CHILLIWACK, British Columbia--(BUSINESS WIRE)--
IMW Industries announced today that it has signed a long-term agreement
with UTC Power, a unit of United Technologies Corp., to be the exclusive
provider of natural gas reforming and CSA cooling modules for its
PureCell® Model 400 stationary fuel cell production. No contract value
was disclosed for the agreement, which lasts through the end of 2014.
"We have worked with UTC Power to provide best-in-class natural gas
processing technology for its stationary fuel cells and are pleased to
be chosen as sole supplier for its market-leading system," said Brad
Miller, president and CEO of IMW. "This agreement complements our growth
in the expanding market for natural gas compression equipment for
fueling transportation in North America and worldwide."
The PureCell solution from UTC Power uses fuel cell technology to
generate 400 kW of electric power using natural gas as input fuel. In a
fuel cell, no fossil fuel combustion takes place. The only byproduct is
heat that can be easily harnessed to provide space heating or domestic
hot water, or with the addition of an optional absorption chiller, can
produce cooling. More than half of the energy potential in traditional,
centralized power generation goes up the stack as exhaust heat. UTC
Power fuel cell systems convert heat exhaust into cooling and heating,
turning potential waste into useable energy. While central powerplants
achieve energy conversion percentages in the mid-30-percent range, the
PureCell system can attain energy conversion efficiencies as high as 90
percent.
UTC Power is part of United Technologies Corp. (UTC), which
provides energy-efficient products and services to the aerospace and
building industries. UTC is a founding member of the U.S. Green Building
Council and the Pew Center on Global Climate Change and has been named
to the Dow Jones Sustainability Index each year since it was launched in
1999. Based in South Windsor, Conn., UTC Power is the world leader in
developing and producing fuel cells that generate energy for buildings
and for transportation, space and defense applications. For more
information, please visit www.utcpower.com
IMW Industries manufactures and services advanced natural gas
fueling compressors and related equipment that is sold to station
operators and commercial fleets, and has provided more than 1,200
installations in 24 countries. The company operates a manufacturing
facility at its headquarters near Vancouver, BC, Canada, a second
manufacturing facility near Shanghai, China, and a third manufacturing
facility near Ferndale, Washington, USA. IMW is a subsidiary of Clean
Energy Fuels Corp. For more information, visit www.imw.ca
Clean Energy (Nasdaq: CLNE) is the largest provider of natural
gas fuel for transportation in North America and a global leader in the
expanding natural gas vehicle market. It has operations in CNG and LNG
vehicle fueling, construction and operation of CNG and LNG fueling
stations, biomethane production, vehicle conversion and compressor
technology. For more information, visit www.cleanenergyfuels.com
This news release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 that involve risks, uncertainties and
assumptions. Actual results and the timing of events could differ
materially from those anticipated in these forward-looking statements as
a result of several factors. The forward-looking statements made herein
speak only as of the date of this news release and, unless otherwise
required by law, the company undertakes no obligation to publicly update
such forward-looking statements to reflect subsequent events or
circumstances. Additionally, reports and other documents Clean Energy
Fuels Corp. (the company's corporate parent) files with the SEC
(available at www.sec.gov)
contain risk factors, which may cause actual results to differ
materially from the forward-looking statements contained in this news
release.
Clean Energy Media:
Bruce Russell, 310-559-4955 x101
brussell@cleanenergyfuels.com
or
Clean
Energy Investors:
Ina McGuinness, 805-427-1372
ina@mcguinnessir.com
or
IMW
Industries:
Steve Steinebach, 604-393-3387
ssteinebach@imw.ca
or
UTC
Power:
Mike Glynn, 860-727-2431
michael.glynn@utcpower.com
Source: IMW Industries
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