Westwood MA, August 22, 2005 --Acumentrics Corporation, a leading developer of Solid Oxide Fuel Cells and Uninterruptible Power Supplies for the distributed generation market, announced today the signing of an engineering development contract with Merloni Termosanitari S.p.A. (MTS Group) headquartered in Fabriano, Italy. The overall objective of the agreement is the joint development of at least two commercial Micro Combined Heat and Power (CHP) appliances targeting specific segments of the European heating, cooling and ventilation (HVAC) market. The specific markets are single and two-family homes and multi-family and small-commercial buildings The appliances would supply both heat and electric power and would use Acumentrics tubular Solid Oxide Fuel Cell (SOFC) technology integrated into an MTS heating appliance.
The Agreement covers the whole development of the Micro CHP appliances until their completion and final field tests and will include some of the essential points of a future Commercial Agreement. The project is divided into two phases. Phase One will concentrate on defining specifications and assessing technical feasibility of the proposed system. Phase two will involve the actual building of test units and commercial feasibility testing. The whole process is expected to take three to four years to complete. Upon completion of the project, both Acumentrics and MTS Group would have exclusive distribution rights for the appliances in specified areas of the world.
"This is an exciting step for Acumentrics in our process of finding commercial applications for our tubular SOFC technology." said Gary Simon, the CEO of Acumentrics. " MTS, as a leader in the European HVAC market, brings to us the detailed knowledge and experience that allows a targeted specific application for our technology in a well defined market."
"We are extremely pleased to begin this project with Acumentrics." said Mr. Giorgio Scaloni, the Strategic Marketing Director of MTS Group. "MTS Group has looked at fuel cell technologies throughout the world and has concluded that the Acumentrics technology is the most promising for our applications. We are confident that this effort has the potential to result in a micro-CHP product that will be truly revolutionary."
About Acumentrics: Acumentrics Corporation, a privately owned company founded in 1994 and based in Westwood, Massachusetts. It is a leading solid oxide fuel cell developer of 1 to 10 kilowatt residential and industrial distributed electricity and heat generation products. Acumentricsí unique and patented high temperature tubular solid oxide fuel cell generation units are designed to run directly from natural gas, propane and other hydrocarbon fuels (such as coal-derived hydrogen based fuels) at standard delivery pressures. This unique and distinguishing feature is based on a highly simplified in-tube fuel reforming method that negates the need for complex external or co-packaged high-cost reformation systems. Acumentricsí fuel cells produce essentially zero harmful emissions, noise or vibration, and are being designed for outdoor long-term continuous duty as well as cyclical use. Acumentrics investors and distribution partners include ChevronTexaco (NYSE:CVX), Northeast Utilities (NYSE:NU), General Dynamics (NYSE:GD), NiSource (NYSE:NI), and Sumitomo (TSE: 8053, OTC:SSUMY), Connecticutís Clean Energy Fund, and the Massachusetts Technology Collaborative.
Acumentrics is one of only six companies in the United States to be awarded and begin work under the U.S. Department of Energyís Solid-State Energy Conversion Alliance (SECA) industry program. Advancements made by Acumentrics under the SECA program are included in the 5 kWatt SOFC system built for Cuyahoga. The Acumentrics SECA program is scheduled for 9 years duration. It targets small-scale 3-10 kilowatt SOFC units with a manufacturing cost of $400 per kilowatt at completion. Information on SECA can be found at www.seca.doe.gov
Acumentrics also manufactures a line of battery based uninterruptible power supplies that are designed to enhance power quality. These products are unique in their ability to be deployed in harsh physical and electrical environments and are used extensively for various military and heavy-duty industrial applications. More information about the company can be found on its website www.acumentrics.com
About MTS Group:
The MTS Group is a leading international Group focussed on manufacturing and delivering central heating and domestic water heating solutions. The Group, to which Francesco Merloni is President, made a turnover of more than one billion euro in 2004, with 7.100 employees, 20 factories and it is present in 27 countries through its own subsidiaries. Next to the well known brand ARISTON (that for 40 years is a guarantee of innovative products), MTS Group has completed its portfolio with other brands such as: Elco, Chaffoteaux & Maury, Cuenod and Rendamax. The company has a strong presence in all the European countries and in Asia and ranks in the top five companies in terms of market share.
The MTS Group in its growth and expansion across the world has exhibits a strong work ethic, a sense of personal responsibility, a commitment to socio-economic and civil development and respect for the environment. The company continually attempts to adapt to changes in the competitive environment and ensure wealth creation in the communities it serves and while maintaining a respect for the logic of sustainable development. More information about the Group can be found on its website www.mtsgroup.com