Composite Power Signs MOU with Premium PowerSeptember 05, 2002 by Jeff Shepard
Composite Power Corp. (CPC, Las Vegas, NV) signed a Memorandum of Understanding (MOU) with Premium Power Corp. (PPC) that will lead to the manufacture and distribution of PPC's PowerBlock integrated power management system, a hybrid fuel cell product combining power electronics with large-scale, advanced battery, energy storage for high value and mission-critical power quality and reliability applications.
PPC agreed to negotiate a master distributor contract with CPC allowing for the supply of PowerBlock systems for use by CPC in their proposed transmission pilot project and to support their Secure Data Storage Center, which is planned for development on the Hanford WNP-1 site in Richland, WA. Both parties plan to finalize the agreement by year's end.
"This agreement is a major step forward as we work to bring manufacturing capabilities for advanced technology to the Tri-Cities," said P. Roger McCombs, CEO of Composite Power. "It will provide an important foundation for our WNP-1 and 4 site reuse plans."