IPT and Planergy Partner for Distributed Generation

February 11, 2002 by Jeff Shepard

International Power Technology Inc. (IPT, San Jose, CA) announced a strategic alliance with Planergy International (Richmond, CA). Under the memorandum of understanding agreement, the companies plan to cooperate in the development of turnkey, inside-the-fence, distributed generation projects nationwide with a specific focus on the California market.

“IPT brings to the table the experience and pedigree that Planergy is looking for in channeling partners,” said Dennis Roundtree, vice president of distributed generation for Planergy. “IPT possesses the unique combination of cogeneration project development and plant operations and management capabilities that will be of significant value to Planergy in our efforts to develop distributed generation projects in California.”

“We are very impressed with Planergy’s experience, capabilities and market foresight. Planergy seems to be in the right place at the right time,” said Randy Turley, president and CEO of IPT. “We are very excited about being part of Planergy’s efforts to develop inside-the-fence power projects. Distributed generation has never made more economic sense in California than it does today and we are convinced that Planergy has the commitment and the capability to deliver integrated power solutions to large industrial and institutional customers.”