Hamilton Sundstrand Expands its Green Energy Thrust

Jan 02, 2008, 00:00 ET from Hamilton Sundstrand

    WINDSOR LOCKS, Conn., Jan. 2 /PRNewswire/ -- Hamilton Sundstrand, a
 subsidiary of United Technologies Corp. (NYSE:   UTX), and US Renewables
 Group have agreed to commercialize the concentrated solar power tower
 technology and corresponding molten salt storage system developed by
 Rocketdyne through a new entity known as SolarReserve.
 
     SolarReserve will hold the exclusive worldwide license to market and
 operate utility-scale Concentrated Solar Power (CSP) projects using molten
 salt technology and equipment developed and manufactured by HS Rocketdyne.
 This renewable technology will enable utility-scale solar power generation.
 It is designed to meet a utility's needs with a single installation capable
 of producing up to 500 MW of peak power.
 
     United Technologies acquired Rocketdyne in 2005.
 
     "US Renewables has invested in geothermal, biomass and other renewable
 generation, and has wanted to invest in solar, but we had not found the
 appropriate technology until we learned of HS Rocketdyne's tower technology
 with molten salt storage," said Lee Bailey, managing director of US
 Renewables Group (USRG). "Due to the unique ability of the product to store
 the energy it captures, this system will function like a conventional
 hydroelectric power plant, but with several advantages. We will have the
 capability to store the sun's energy and release it on demand. This product
 is more predictable than water reserves, the supply is free and
 inexhaustible, and the environmental impact is essentially zero."
 
     HS Rocketdyne's CSP tower and molten salt storage system technology was
 originally demonstrated in conjunction with the U.S. Department of Energy
 at the Solar Two facility in Barstow, Calif. The unique component of the HS
 Rocketdyne power tower is the central receiver. This high heat flux
 hardware represents a unique combination of liquid rocket engine heat
 transfer technology and molten salt handling expertise. HS Rocketdyne is a
 world leader in liquid metal and molten salt heat transfer systems, and is
 the prime contractor for the International Space Station electric power
 system.
 
     According to David P. Hess, president of Hamilton Sundstrand, "this is
 a perfect blend of world-class engineering, power project development
 expertise and the entrepreneurial business structure required to bring a
 proven capability to the marketplace. We're convinced that this renewable
 technology will make a positive impact for future generations, and we're
 confident the SolarReserve business structure will expedite our efforts to
 address this national priority."
 
     Terry Murphy, former director of Advanced Power Systems at HS
 Rocketdyne, will serve as president and chief executive officer of
 SolarReserve. He will lead the commercialization effort to ensure a
 seamless integration of this technology into the commercial marketplace.
 
     US Renewables Group, LLC (USRG) is a company organized to manage a
 series of private equity funds (including USRG Power & Biofuels Fund I, LP
 and USRG Power & Biofuels Fund II, LP) that acquire, develop and operate
 renewable energy and clean fuel assets. To date, the firm has approximately
 $575 million under management, and has invested in geothermal, biomass,
 landfill methane, ethanol, biodiesel and associated infrastructure. USRG
 has offices in Los Angeles and New York. For more information, visit
 www.usregroup.com.
 
     With 2006 revenues of $5 billion, Hamilton Sundstrand employs
 approximately 18,000 people worldwide and is headquartered in Windsor
 Locks, Conn. Among the world's largest suppliers of technologically
 advanced aerospace and industrial products, the company designs,
 manufactures and services aerospace systems and provides integrated system
 solutions for commercial, regional, corporate and military aircraft. It
 also is a major supplier for international space programs.
 
     United Technologies Corp., of Hartford, Conn., provides a broad range
 of high-technology products and support services to the aerospace and
 building systems industries.
 
 
Contact: Dan Coulom Randy Steinberg Hamilton Sundstrand SolarReserve Windsor Locks, Conn. Los Angeles, Calif. 860-654-3469 310-403-8996

SOURCE Hamilton Sundstrand
    WINDSOR LOCKS, Conn., Jan. 2 /PRNewswire/ -- Hamilton Sundstrand, a
 subsidiary of United Technologies Corp. (NYSE:   UTX), and US Renewables
 Group have agreed to commercialize the concentrated solar power tower
 technology and corresponding molten salt storage system developed by
 Rocketdyne through a new entity known as SolarReserve.
 
     SolarReserve will hold the exclusive worldwide license to market and
 operate utility-scale Concentrated Solar Power (CSP) projects using molten
 salt technology and equipment developed and manufactured by HS Rocketdyne.
 This renewable technology will enable utility-scale solar power generation.
 It is designed to meet a utility's needs with a single installation capable
 of producing up to 500 MW of peak power.
 
     United Technologies acquired Rocketdyne in 2005.
 
     "US Renewables has invested in geothermal, biomass and other renewable
 generation, and has wanted to invest in solar, but we had not found the
 appropriate technology until we learned of HS Rocketdyne's tower technology
 with molten salt storage," said Lee Bailey, managing director of US
 Renewables Group (USRG). "Due to the unique ability of the product to store
 the energy it captures, this system will function like a conventional
 hydroelectric power plant, but with several advantages. We will have the
 capability to store the sun's energy and release it on demand. This product
 is more predictable than water reserves, the supply is free and
 inexhaustible, and the environmental impact is essentially zero."
 
     HS Rocketdyne's CSP tower and molten salt storage system technology was
 originally demonstrated in conjunction with the U.S. Department of Energy
 at the Solar Two facility in Barstow, Calif. The unique component of the HS
 Rocketdyne power tower is the central receiver. This high heat flux
 hardware represents a unique combination of liquid rocket engine heat
 transfer technology and molten salt handling expertise. HS Rocketdyne is a
 world leader in liquid metal and molten salt heat transfer systems, and is
 the prime contractor for the International Space Station electric power
 system.
 
     According to David P. Hess, president of Hamilton Sundstrand, "this is
 a perfect blend of world-class engineering, power project development
 expertise and the entrepreneurial business structure required to bring a
 proven capability to the marketplace. We're convinced that this renewable
 technology will make a positive impact for future generations, and we're
 confident the SolarReserve business structure will expedite our efforts to
 address this national priority."
 
     Terry Murphy, former director of Advanced Power Systems at HS
 Rocketdyne, will serve as president and chief executive officer of
 SolarReserve. He will lead the commercialization effort to ensure a
 seamless integration of this technology into the commercial marketplace.
 
     US Renewables Group, LLC (USRG) is a company organized to manage a
 series of private equity funds (including USRG Power & Biofuels Fund I, LP
 and USRG Power & Biofuels Fund II, LP) that acquire, develop and operate
 renewable energy and clean fuel assets. To date, the firm has approximately
 $575 million under management, and has invested in geothermal, biomass,
 landfill methane, ethanol, biodiesel and associated infrastructure. USRG
 has offices in Los Angeles and New York. For more information, visit
 www.usregroup.com.
 
     With 2006 revenues of $5 billion, Hamilton Sundstrand employs
 approximately 18,000 people worldwide and is headquartered in Windsor
 Locks, Conn. Among the world's largest suppliers of technologically
 advanced aerospace and industrial products, the company designs,
 manufactures and services aerospace systems and provides integrated system
 solutions for commercial, regional, corporate and military aircraft. It
 also is a major supplier for international space programs.
 
     United Technologies Corp., of Hartford, Conn., provides a broad range
 of high-technology products and support services to the aerospace and
 building systems industries.
 
 
Contact: Dan Coulom Randy Steinberg Hamilton Sundstrand SolarReserve Windsor Locks, Conn. Los Angeles, Calif. 860-654-3469 310-403-8996 SOURCE Hamilton Sundstrand