EPRI forms international subsidiary

Palo Alto, Calif., January 14, 2002 —The Electric Power Research Institute (EPRI) announces the formation of EPRI Worldwide Holdings Inc. (EPRIww), a wholly-owned taxable subsidiary, to support the growing international market for energy R&D.

The new organization, which operates as a U.S. holding company, has appointed Don Baker, former vice-president of EPRI International, as its president and chief executive officer.

“Participation in EPRI by international customers has grown rapidly, and international clients now represent over 10% of EPRI’s total business, with 62 members and more than 130 funders,” said Baker.

Formation of the new company derives from EPRI’s mission to serve the global electricity enterprise as the premier collaborative scientific and technology leader, says EPRI president and CEO, Kurt Yeager. To address this challenge, EPRI has developed a business strategy built around the concept of an integrated family of companies that currently numbers seven entities.

According to Baker, EPRIww provides a more effective legal entity for dealing with the growing international market. Subsidiaries of the new company can be located in other parts of the world to provide local technical managers and improve access to EPRI technology. In fact, the first EPRIww subsidiary, EPRI Worldwide S.A., has already been established in Brussels, Belgium.

“Customers have told us that local technical support is critical to maintaining and growing our relationship,” Baker said. “Through EPRI Worldwide S.A., we will develop opportunities to adapt EPRI technology and increase collaboration to meet the needs of our European clients.”

EPRI, headquartered in Palo Alto, Calif., was established in 1973 as a center for public interest energy and environmental research. EPRI’s collaborative science and technology development program now spans nearly every area of power generation, delivery and use. More than 1,000 energy organizations and public institutions in 40 countries draw on EPRI’s global network of technical and business expertise.

For information about EPRI’s programs, visit the EPRI Destinations website at http://www.epri.com/destinations/.

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