Los Angeles, CA., April 5, 2002
– Magnetek, Inc. (NYSE: MAG) today announced that it will provide power conditioners for the world's largest fuel cell installation. The 1.4-megawatt plant, which will provide primary power for a Verizon call-routing center on Long Island, New York, is comprised of seven PC25TM fuel cells built by UTC Fuel Cells, a unit of United Technologies Corp.(NYSE: UTX).
MagneTek's digital power conditioners are essential fuel cell subsystems, which Magnetek designs and builds for UTC. They convert the direct current (Dc) produced by the fuel cells' electrochemical reaction into precisely controlled alternating current (Ac), which is required to run the critical Verizon call-routing center. The fuel cells, each of which produces 200 kilowatts of electricity and 900,000 Btus of usable heat, will provide primary electrical power for the facility.
Verizon, one of the world's leading telecommunications companies, will install the fuel cells at a 332,000 square-foot facility in Garden City that delivers local phone service to some 40,000 customers on a 24-hour basis. The facility is also home to more than 1,000 Verizon employees who handle various functions, including answering customer calls.
Magnetek also supplied the power conditioners for six UTC Fuel Cells units at the Connecticut Juvenile Training School in Middletown, which will continue to reign as the world's largest fuel cell installation until the Verizon plant is competed. The training school installation, a six-cell, 1.2-megawatt microgrid, provides electric power to all the buildings on campus.
UTC Fuel Cells has manufactured the PC25 power plant since 1991 and has delivered more than 245 to customers in 19 countries on five continents. Those power plants have together accumulated nearly 5 million hours of operation. Magnetek has supplied power conditioners for a majority of the units.
UTC Fuel Cells is the world leader in fuel cell production and development for commercial, transportation, residential and space applications, and is the sole supplier of fuel cells for U.S. manned space missions.
With thousands of installations and millions of hours of operation, Magnetek is the world's leading manufacturer of power conditioners and voltage regulators for fuel cells and distributed power generators.
Magnetek, Inc. manufactures digital power products used in telecommunications, data processing and storage, medical electronics, transportation, motion control, home appliances, power generation and other applications requiring highly reliable, precise, energy-efficient power. Listed on the New York Stock Exchange (NYSE: MAG), the Company operates manufacturing and research facilities in North America, Europe and Asia, employs approximately 1,700 people, and reported revenue of $298 million for fiscal year 2001, ended on June 30, 2001.
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* A fuel cell is an electrochemical device that combines hydrogen, or hydrogen-rich fuel, and oxygen to produce electricity, heat and water. Fuel cells operate without combustion, making them almost pollution free. While a traditional generating system produces as much as 25 pounds of pollutants to generate 1,000 kilowatt-hours of electricity, the PC25 power plant produces less than an ounce.
TM PC25 is a trademark of UTC Fuel Cells, a unit of United Technologies Corp.
The foregoing announcement contains forward-looking statements that are subject to risks and uncertainties which, in many cases, are beyond the control of the company. These include but are not limited to economic conditions in general, business conditions in energy and electronic equipment markets, competitive factors such as pricing and technology, risks associated with acquisitions and divestitures, and the risk that the company's ultimate costs of doing business exceed present estimates. Further information on factors that could affect Magnetek's financial results can be found in the Company's filings with the Securities and Exchange Commission.