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Catamount Energy Invests in Fuel Cell Power Generation

by Staff Writers
Rutland, VT (SPX) Mar 20, 2007
Catamount Energy has announced its acquisition of 50% of EPG Fuel Cell, a developer of power projects based on fuel cell technologies. Expanding its activities in developing renewable energy projects, Catamount has teamed with Elemental Power Group, of New York, to bring utility-scale, multi-megawatt, ultra-clean power solutions to constrained urban environments.

Fuel Cells are battery-like devices that convert hydrogen and oxygen to electricity electrochemically, without combustion. Power generated by fuel cells is considered highly reliable, ultra-clean, and renewable in many states.

Because the facilities are modular in design, they can be engineered into many locations in urban areas. The power produced is clean, very quiet, and distributed to high-demand urban areas, contributing to the supply and stability of local grids with practically zero emissions of pollutants.

"Diamond Castle is using Catamount Energy as its alternative energy platform, and the fuel cell technology provides a complementary addition to our existing wind energy business," said James Moore, CEO of Catamount.

"The investment in EPG Fuel Cell puts us in business with an excellent entrepreneur, Rob Babcock, whom we know well and who has established a robust pipeline of project opportunities," Moore added.

EPG Fuel Cell will be owned 50% by Catamount Energy and 50% by its current parent, Elemental Power Group, LLC. The company will be run as a joint venture between its two owners and will seek to expand its development efforts across the U.S. in states that have electricity constrained grids in urban environments that can particularly benefit from the ultra-clean generation that fuel cell projects enable.

"We are very happy to partner with Catamount, a company with a great team and an excellent track record in the wind business," said Robert Babcock, President and CEO of Elemental Power Group. "Working together, the two partners will ensure the successful expansion of this highly efficient distributed renewable generation technology," Babcock said.

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