PowerCold Reports Collaboration with DTE Energy

March 21, 2002 by Jeff Shepard

PowerCold Corp. announced that its wholly owned subsidiary, Power Sources Inc., has been selected by DTE Energy Technologies to collaborate in developing on-site cogeneration projects in the northeastern US. DTE Energy Technologies, a subsidiary of DTE Energy (Detroit, MI), believes the business can generate $12.0 million through 2003, and at least $20.0 million in projects within three years.

Joe Cahill, president of Power Sources, stated, “This is a highly promising and synergistic relationship that we believe will provide important new revenue and profits for us this year and in the years ahead. Our ability to offer economical and more reliable on-site distributed power systems, combined with our energy-efficient Nauticon evaporative condensers and EV chiller systems, has opened large new markets for us.”

Rick Diloia, district manager of DTE Energy Technologies, said, “The demand for on-site cogeneration units is growing steadily. Businesses need and want reliable power delivered in a cost-effective manner. This is what we are offering.”