Powerco US and EPRIsolutions sign contract to evaluate an advanced Stirling Engine for distributed home energy use

EL DORADO HILLS, Calif., Nov. 8, 2001 — Powerco US, Inc., a subsidiary of Ocean Power Corp., and EPRIsolutions, a subsidiary of the Electric Power Research Institute, formalized their existing agreement for firm equipment delivery and testing beginning in the middle of 2002.

This effort begins the commercialization process for Ocean Power with their 3 kW Stirling engine that will be evaluated for market readiness in the United States. It follows a similar program in Europe that has been underway for the last 12 months. The Stirling engine can be used to generate electricity and heat for individual homes.

“Ocean Power is pleased to see the EPRIsolutions program begin now when in the United States, and especially California, plans are underway to meet and deliver energy for growing demand,” said Joe Maceda, president of Ocean Power.

David Moard, president of Powerco, a subsidiary of Ocean Power recently formed to commercialize and expand their distributed energy products, added, “Stirling engines are among only a few technologies that can be used in residential applications as an appliance to meet electrical and heating needs.” Moard goes on to say, “there has never been a better time to bring clean new energy products to the market than today as customers are faced with rising prices and an unreliable supply of power to their homes and offices.”

Ocean Power Corp. has been developing a portfolio of distributed energy equipment that, in addition to Stirling engines, includes solar energy and waste to energy.

EPRIsolutions plans to test and validate the 3 kW Stirling engine at its test facility in Knoxville, Tenn. to assess the technology readiness, power quality, and reliability of the system for meeting end-user needs. “This may lead to eventual deployment of pre-commercial market entry systems with member utilities,” noted Dan Rastler, area manager, Distributed Resources.

More information on EPRIsolutions can be found at www.eprisolutions.com.

Ocean Power Website: www.pwre.com.

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