Composite Power signs long-term lease with DOE for power plant site

RICHLAND, Wash., Jan. 28, 2002 — Composite Power Corporation announced today the signing of a 50-year lease with the US Department of Energy for a 1,000 acre power plant site located near Richland, Washington.

CEO Roger McCombs stated that CPC is an innovative company with a mission dedicated to a dual strategy for the energy marketplace.

“The lease of the WNP-1 and WNP-4 sites is a major milestone in the realization of our strategic plan in helping to solve national energy problems by developing innovative clean and renewable energy projects” said McCombs.

“While achieving that goal, we will also use this property to develop, manufacture and market the most efficient, technically advanced energy delivery system in the world. Our plans are specifically designed to fulfill major initiatives in President Bush’s National Energy Policy and the Homeland Security Plan.”

Composite Power’s strategic plan is based on the use of these two partially completed nuclear sites to construct an integrated industrial/energy park with a central power complex of multiphase 2500 Megawatts of natural gas-fired generation. The site located along the Columbia River in eastern Washington will provide the cornerstone for CPC’s development of an advanced composite manufacturing center and a large-scale secure data storage facility. The natural gas fired generation will provide the base load power for the site with a large segment of the power being provided to the Northwest Power Grid.

For the past year Composite Power has worked closely with the United States Department of Energy and several years with major utilities.

Additionally, procurement engineering, construction and advanced materials firms such as W. Brandt Goldsworthy & Associates (Torrance, CA), whose arsenal for energy and infrastructure innovations has consistently demonstrated leaps in technology and have been targeted by Composite Power as key partners.

This center supports development for their advanced composite energy delivery system, magnetic levitation wind turbine, large-scale biomass energy production, and clean coal technology. An outline of the key elements of Composite Power’s master plan is located in the Mission Statement on their website at www.compositepower.com


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