Turbo Genset Inc.
TSX : TGN
LSE : TGN

Turbo Genset Inc.

March 22, 2006 02:00 ET

Turbo Genset Inc. Announces Renewable Energy Initiative with Compact Power

CALGARY, ALBERTA--(CCNMatthews - March 22, 2006) - Turbo Genset (TSX:TGN) (LSE:TGN) today announces that it has signed an agreement to collaborate with Compact Power Ltd in the development of a packaged biomass distributed generation system.

Compact Power has a successful existing biomass processing plant in Avonmouth operating on a wide range of municipal and biological waste products, and is in the process of developing a "green biomass" module for commercial exploitation.

Turbo Genset will supply the generator and inverter technology which, in conjunction with a gas turbine genset and a recuperator provided by other partners, will improve the efficiency and power output of the overall system.

Compact Power uses pyrolysis and gasification technology producing high quality syngas and carbon from hydrocarbon feedstocks. The strategy is based on distributed systems - modular plant delivering economic local solutions optimising energy utilisation and reducing transport impact.

Typical systems will deliver c.2.5 MWe. Plant will be packaged in containers for "plug and play" installation. The first system will be commissioned in 2006.

Commenting on the agreements Michael Hunt, Turbo Genset , CEO said "Renewable energy is an exciting and growing sector which plays well to our strengths in power electronics and generators. The environmental benefits that will be demonstrated by this agreement with Compact Power, will be important in growing this market further."

NOTES TO EDITORS

About Turbo Genset

Turbo Genset designs and manufactures innovative power solutions which provide local, high quality, controllable electrical power. The Group's products are sold into a number of markets but all are based on its core technologies of power electronics and high speed electrical machines.

Forward Looking statements

This news release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events, or performance, and underlying assumptions and other statements that are other than statement of historical fact. These statements are subject to uncertainties and risks including, but not limited to, the ability to meet ongoing capital needs, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition, the need to protect proprietary rights to technology, government regulation, and other risks defined in this document and in statements filed from time to time with the applicable securities regulatory authorities.

Contact Information

  • Turbo Genset Inc.
    Michael Hunt
    Chief Executive Officer
    +44 (0)20 8564 4460
    or
    Turbo Genset Inc.
    Stephen Sadler
    Chief Financial Officer
    +44 (0)20 8564 4460
    Website: www.turbogenset.com
    or
    Gavin Anderson & Company (PR)
    Ken Cronin
    +44 (0)20 7554 1400