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HINSDALE, Ill., July 19, 2002 -- Americas Power Partners Inc. announced Thursday that it has signed a multi-year Utility Requirements Agreement with H. J. Heinz Co. and its strategic partner Armstrong Service, Inc. to own, operate, maintain and enhance the utility plant and systems for two plants located at King of Prussia, PA and Fremont, OH. APP has signed three Utility Agreements to-date with H. J. Heinz Company.
The contracts are 25 years in length and will include all utility costs, including electric power, fuel, operations, maintenance, water, wastewater and compressed air services. "The outsourcing of the utilities provides H. J. Heinz with an onsite energy partner that can focus on improving systems reliability, utility production and distribution systems to 'Best in Class' performance levels.
Americas Power Partners is currently reviewing additional multi-plant sites to improve utility systems for H. J. Heinz," stated Gordon Mendelson, President and COO.
Americas Power Partners is an independent power producer engaged in the business of acquiring, developing, owning and managing the operation of energy systems including cogeneration plants which produce electricity and thermal energy for sale under long term contracts with industrial, commercial, and government users.
"The company believes that the development of cogeneration projects will provide the customer with the advantages of reliability and energy cost savings from captive distributed generation facilities and will focus on acquiring additional cogeneration projects less than 100 megawatts," stated Mark Margason, Chairman and CEO.
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