Teledyne Energy Systems Completes Initial Testing of 3-Kilowatt Prototype Stationary Fuel Cell Power System
LOS ANGELES - September 27, 2001 - Teledyne Technologies Incorporated (NYSE: TDY) today announced that Teledyne Energy Systems, Inc. has successfully completed operational tests of its prototype 3-kilowatt natural gas fueled stationary fuel cell power system. The test results demonstrated the performance necessary to meet power generation requirements for the residential and telecommunications markets.
The 3-kilowatt unit is an alpha prototype of an integrated power system incorporating necessary fuel processing, fuel cell and control systems required for independent operation. The prototype unit will support the development of commercial products offering uninterruptible and backup power generating capabilities for telecommunications, premium residences, and remote premium power applications.
"Completion of the stationary prototype is an important milestone for Teledyne Energy Systems as we transition our electrochemical experience and integration with Energy Partners into effective fuel cell products for the market," said Robert Mehrabian, chairman, president and chief executive officer of Teledyne Technologies. "This unit provides the basis for a strong product commercialization effort covering a variety of power ranges and fuels planned for 2002."
Similar in size to a typical residential refrigerator, the prototype fuel cell power system unit has several key features for its target markets, including excellent transient response across the entire power range, the ability to operate without makeup water by fully reclaiming the water produced in the onboard reactions, and the ability to use standard consumer grade natural gas directly from the meter.
Teledyne Energy Systems will continue extensive testing of the prototype unit through 2001. Teledyne Energy Systems development plans include follow-on units in 2002, including a variety of power output specifications.
About Teledyne Energy Systems, Inc.
Teledyne Technologies recently combined its Energy Systems business unit with assets and intellectual property of Energy Partners, Inc., to create majority-owned Teledyne Energy Systems, Inc., (TES). 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.teledyneenergysystems.com.
About Teledyne Technologies Incorporated
Teledyne Technologies Incorporated (NYSE: TDY), headquartered in Los Angeles, Calif., is a leading provider of sophisticated electronics and communications products, systems engineering solutions, and aerospace engines and components. 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 government programs, success of transition from prototype development to manufacturer of products, customers' acceptance of TES' products, technological developments of competitors and economic conditions 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.