UTC Power Acquires Architectural Energy Corp. of Boulder, Colorado

SOUTH WINDSOR, Conn., Oct. 7, 2008 – UTC Power, a United Technologies Corp. (NYSE:UTX) company, today announced it has acquired Architectural Energy Corp. (AEC), a privately held energy engineering firm that offers services and products to optimize the energy and environmental performance of buildings.  

Financial terms of the agreement were not disclosed.

Headquartered in Boulder, Colo., AEC employs approximately 110 people and has satellite offices in San Francisco, Nashville and Chicago. Customers include building owners, architects, construction companies, corporations, municipalities and state entities, plus governmental and non-governmental organizations.

According to the World Building Council for Sustainable Development, of which UTC is a member, buildings consume about 40 percent of the world’s energy.

“Architectural Energy Corp.’s nationally recognized capabilities in providing energy efficiency services and products to achieve sustainable, high-performance environments throughout a building’s life cycle are a great fit for UTC Power,” said Ken Fox, UTC Power vice president, on-site power solutions. “This acquisition supports our strategy of building a national energy and sustainability services organization to help our customers reduce energy consumption and climate impact while providing a more healthy and productive environment for their workforce. We got off to a strong start last year with the acquisition of Dome-Tech Inc., based in Edison, N.J., and AEC further expands our geographic coverage and capabilities in this critically important area."

Charles Braunstein, Dome-Tech founder, will oversee a newly formed UTC Power Energy & Sustainable Services organization made up of Dome-Tech and AEC. “I am excited about AEC and how it adds to our strong offering in energy conservation and expands our capabilities in LEED (Leadership in Energy and Environmental Design), sustainable design consulting, and building diagnostic software. AEC’s geographical footprint will allow us to expand into key areas of the country, while providing our customer base with a more cost-effective solution. We look forward to working with such a strong, industry-leading company." 

Donald Frey, an AEC principal, said, “We are excited about joining the UTC Power team and about expanding our ability to hasten the transition to a sustainably built environment."

“Together, we will offer a broad set of energy efficiency and sustainability services to assist our customers in improving the energy and environmental performance of their new and existing buildings,” added Michael Holtz, another AEC principal.

UTC Power, a United Technologies Corp. (NYSE:UTX) company, is a full-service provider of environmentally responsible power solutions. With 50 years of experience, UTC Power is the world leader in developing and producing fuel cells for on-site power, transportation, space and defense applications, as well as a leader in innovative, renewable energy solutions and combined cooling, heating and power solutions for the distributed energy market.