Magnetek Signs Joint Development Pact with Clipper Windpower
LOS ANGELES, CA - August 20, 2003 - Magnetek Inc. (NYSE: MAG), the world's leading manufacturer of power conditioners for commercial fuel cells, has agreed to provide advanced power conditioners for Clipper Windpower Inc., Carpinteria, CA. While specifics of the agreement have not been announced, both parties agree this will be a mutually beneficial relationship.
Magnetek's power conditioners will transform the fluctuating power produced by the wind turbine generators into the steady flow of alternating current (ac) power required to feed the utility grid.
Clipper Windpower designs and manufactures utility-scale wind turbine drivetrain systems utilizing variable speed technology. These D-GEN® Drivetrain systems represent the latest innovation from Clipper, whose management and engineering teams have been collectively responsible for three generations of turbine advancement since 1980.
The D-GEN Drivetrain utilizes an innovative design incorporating multiple generators to reduce gearbox size and stress. This patented design is expected to revolutionize power transfer and control in large wind turbines.
During the past decade, Magnetek has delivered power conditioners up to 375 kilowatts for more than 160 commercial fuel-cell installations totaling nearly 32 megawatts, including the world's two largest fuel cell plants in Anchorage, Alaska and Long Island, New York. The Clipper Windpower program is a key milestone in Magnetek's alternative energy strategy, which includes power-conditioning products for solar photovoltaic inverters, micro-turbine power conditioning systems (PCS), and energy storage system PCS, as well as wind and fuel cells power conversion systems.
Magnetek manufactures digital power supplies and systems used in a broad range of applications requiring highly reliable, precise, energy-efficient power. It operates manufacturing and research facilities in North America, Europe and Asia, employs approximately 1,470 people and reported revenue of $188 million for fiscal 2002, ended on June 30, 2002.
More information about Clipper Windpower is available at http://www.clipperwind.com.
Director, Marketing Communications
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectations regarding sales of and markets for its products and services, such as power conditioners for alternative energy sources such as wind turbines. These forward-looking statements are subject risks and uncertainties, many of which cannot be predicted or quantified and are beyond the Company's control. Future events and actual results may differ materially from those set forth in, contemplated by, or underlying these forward-looking statements.