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Catamount Energy Corp. Invests in Fuel Cell Power Generation

Posted on: Friday, 9 March 2007, 15:00 CST

Catamount Energy Corp., a wind energy company, today announced its acquisition of 50% of EPG Fuel Cell, LLC, a developer of power projects based on fuel cell technologies.

Expanding its activities in developing renewable energy projects, Catamount has teamed with Elemental Power Group, LLC of New York, to bring utility-scale, multi-megawatt, ultra-clean power solutions to constrained urban environments.

Fuel Cells are battery-like devices that convert hydrogen and oxygen to electricity electrochemically, without combustion. Power generated by fuel cells is considered highly reliable, ultra-clean, and renewable in many states. Because the facilities are modular in design, they can be engineered into many locations in urban areas. The power produced is clean, very quiet, and distributed to high-demand urban areas, contributing to the supply and stability of local grids with practically zero emissions of pollutants.

"Diamond Castle is using Catamount Energy as its alternative energy platform, and the fuel cell technology provides a complementary addition to our existing wind energy business," said James Moore, CEO of Catamount. "The investment in EPG Fuel Cell puts us in business with an excellent entrepreneur, Rob Babcock, whom we know well and who has established a robust pipeline of project opportunities," Moore added.

EPG Fuel Cell will be owned 50% by Catamount Energy and 50% by its current parent, Elemental Power Group, LLC. The company will be run as a joint venture between its two owners and will seek to expand its development efforts across the U.S. in states that have electricity constrained grids in urban environments that can particularly benefit from the ultra-clean generation that fuel cell projects enable.

"We are very happy to partner with Catamount, a company with a great team and an excellent track record in the wind business," said Robert Babcock, President and CEO of Elemental Power Group. "Working together, the two partners will ensure the successful expansion of this highly efficient distributed renewable generation technology," Babcock said.

About Catamount Energy Corp.:

Catamount is a developer, owner, and operator of wind energy projects and has been in the business of providing clean, cost-competitive electricity in the U.S. and Europe for 19 years.

More information regarding Catamount is available on its web site at www.catenergy.com.

About Elemental Power Group, LLC:

Elemental Power Group, LLC ("EPG") is an independent developer of renewable energy projects located in New York. EPG focuses its activities on non-wind renewable energy technologies, especially solar and fuel cell projects. Through its subsidiary company, EPG-Fuel Cell, LLC, EPG endeavors to identify locations, design, permit, contract, finance, build and operate fuel cell power plants in locations where such technology qualifies as a renewable energy resource. Fuel Cells are one of the few truly "urban renewable" technologies that are commercially available and technologically proven. Running on a variety of fuels, fuel cells produce electricity electrochemically and without combustion. The lack of combustion means that there are practically no harmful emissions from fuel cell power plants and their emissions of carbon dioxide are dramatically reduced. This, coupled with their relatively small footprint, gives them great advantages in energy production over other renewable technologies in an urban environment. For more information on the company, and its activities, please visit on the web www.elemental-power.com.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe,""estimate,""project,""expect," or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in wind and other projects, acceptance of the Companies' products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks. By making these forward-looking statements, the Companies undertake no obligation to update these statements for revision or changes after the date of this release.

Source: Business Wire

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