Environmental Power Corp.’s Microgy subsidiary reports additional digester project agreement


PORTSMOUTH, N.H., Jan. 22, 2004 — Environmental Power Corp., a specialist in the renewable energy industry with proprietary technology to convert manure into electricity, announced that its subsidiary, Microgy Cogeneration Systems, Inc., had signed an additional agreement with an entity owned by Norswiss Dairy, Inc. of Rice Lake, Wisconsin, pursuant to which Norswiss will purchase a digester system based on Microgy’s proprietary, highly efficient anaerobic digestion technology to process manure produced by their dairy operations.

This agreement follows the recent signings in January of similar agreements with Wild Rose Dairy and Five Star Dairy, bringing to three the number of Microgy’s digester systems under agreement for purchase.

Like the earlier agreements, the Norswiss agreement is part of Microgy’s continuing efforts under its relationship with Dairyland Power Cooperative (“Dairyland”). The Dairyland Board of Directors has approved the Norswiss project. Microgy’s agreement with Norswiss also provides Microgy with the right to operate and maintain the digester for the duration of its operational life.

Andy Livingston, Microgy’s President, stated, “The execution of the agreement with Norswiss shows that Microgy’s execution on its business plan is gaining momentum. There are now three farms which have seen the advantages of adopting our digester technology, and we expect many more to follow.”

ABOUT ENVIRONMENTAL POWER CORPORATION

Environmental Power Corporation (OTCBB: POWR) is an entrepreneurial energy company established in 1982 with annual revenues in excess of $50 million. The company focuses on environmentally sound power generation and anaerobic digestion systems. For more information, please visit the company’s web site at www.environmentalpower.com.


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