South Windsor, Conn. (May 3, 2005) -- UTC Power, a division of United Technologies Corporation (NYSE: UTX), today announced that the Connecticut Department of Public Utility Control (DPUC) issued a decision approving the PureCycle™ 200 power system as a Class I renewable resource. The DPUC's decision means that the zero-emission unit can help electric distribution companies and suppliers meet their obligations under the state's Renewable Portfolio Standard (RPS), which requires them to include a certain amount of renewable energy in their portfolios.
"In approving the PureCycle™ 200 as a Class I renewable resource, Connecticut joins a growing number of states that recognize and value the economic and environmental benefits of waste-heat-to-electricity power generation," said UTC Power President Jan van Dokkum. "This decision validates the PureCycle™ 200 as a renewable energy source of the highest standard."
Waste heat represents a zero-emission, free source of energy. The U.S. Department of Energy estimates that "America's power producers, buildings and industrial sectors annually vent 29 quadrillion BTUs of thermal energy into the atmosphere, lakes and rivers." This is almost equal to the energy consumed by the entire U.S. transportation system. UTC Power's PureCycle™ 200 system recycles waste heat to create up to 200 kilowatts of free, zero-emission electricity using the proven thermodynamic principle of organic Rankine cycle (ORC).
When PureCycle™ 200 units are registered with the appropriate authorities, their owners will be eligible to participate in the Renewable Energy Credit (REC) market. RECs are tradable certificates that prove the energy source generated clean power. The value of RECs is determined by market demand and recently traded at $35 per megawatt hour in the Connecticut market. PureCycle™ is the second UTC Power product designated as a Class I renewable energy source in Connecticut, joining PureCell™ 200, the company's flagship 200-kilowatt stationary fuel cell. More than 275 PureCell™ 200 units have been sold worldwide, with seven million hours of operation and unmatched durability and reliability. Plans call for an advanced PureCell™ product to be launched in 2007.
United Technologies, based in Hartford, Conn., is a diversified company that provides high technology products and services to the commercial building industry and the military and commercial aerospace industry. Its UTC Power division, based in South Windsor, Conn., is a full-service provider of clean power solutions. With more than 40 years of experience, UTC Power is the leading developer and producer of fuel cells for on-site power, transportation and space applications.
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