Teledyne Energy Systems Receives Contract Modification to Deliver Prototype Fuel Cell Power System to DOE
LOS ANGELES - January 28, 2002 - Teledyne Technologies Incorporated (NYSE:TDY) today announced that Teledyne Energy Systems, Inc. (TES) executed a contract modification to deliver a prototype Proton Exchange Membrane (PEM) fuel cell power system to the U.S. Department of Energy under the continuation of work begun by Energy Partners, Inc.
The prototype system will be rated at 7 kW and fueled by natural gas. Scheduled for delivery late in 2002, the unit will be used by the Department of Energy to evaluate the operating characteristics of PEM fuel cell systems under operating conditions similar to those encountered by both vehicle and stationary power plants. The unit will be self-contained with all systems necessary for operation on natural gas. It will also have a state-of-the-art data acquisition system to aid in data collection and analysis.
"We are pleased to continue the work begun by Energy Partners for the Department of Energy," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "Participation in this project will help us gain valuable data and understanding on system design and performance necessary to deliver viable commercial products."
The primary objective of the project is to scale up TES's 3 kW natural gas Stationary Power Unit prototype design to provide at least 7 kW of power. Secondary objectives include improving the system's transient response ability, evaluating various power conditioning options, improving system packaging, and conducting tests in cooperation with the Department of Energy.
Fuel cells produce electricity as a result of the chemical combination of hydrogen and oxygen contained in air. Under development by both the transportation and power industries, they provide higher efficiency and significantly lower pollution emissions than conventional car engines or power plants.
About Teledyne Energy Systems, Inc.
Teledyne Technologies combined its Energy Systems business unit with the assets and intellectual property of Energy Partners, Inc., to create majority-owned Teledyne Energy Systems, Inc. Teledyne Energy Systems (TES) is a leading global provider of on-site gas and power generation systems based on proprietary fuel cell, electrolysis and thermoelectric technologies. In addition, TES is pursuing new product opportunities in the fuel cell testing, vehicle refueling and PEM fuel cell markets. TES is recognized for product lines that are reliable, simple to install and easy to use. More information about Teledyne Energy Systems may be found at www.teledynees.com.
About Teledyne Technologies Incorporated
Teledyne Technologies Incorporated (NYSE:TDY) is a leading provider of sophisticated electronic components, instruments and communications products, systems engineering solutions, and aerospace engines and components and on-site gas and power generation systems. Teledyne Technologies has operations in the United States, the United Kingdom and Mexico. More information about Teledyne Technologies may be found on the Company's Web site at www.teledyne.com.
This press release contains forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from these forward-looking statements. Many factors, including product shipments, funding and the continuation of programs could change the anticipated results. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Teledyne Technologies' periodic filings with the Securities and Exchange Commission, including its 2000 Annual Report on Form 10-K, and Forms 10-Q.