ClearEdge Power Announces Agreement to Acquire UTC Power

HILLSBORO, Ore.--(BUSINESS WIRE)--ClearEdge Power, a manufacturer of scalable, continuous on-site power systems, today has reached agreement to acquire UTC Power.

“The wealth of talent, intellectual capital, and technology platforms enables us to provide highly innovative product and service solutions to our customers.”

“We are excited about the strategic combination of ClearEdge Power and UTC Power to address the demand for clean, continuous, distributed power solutions”, said ClearEdge Power President and CEO, David B. Wright. “The wealth of talent, intellectual capital, and technology platforms enables us to provide highly innovative product and service solutions to our customers.”

The transaction is subject to customary closing conditions; closing is expected early in 2013.

About ClearEdge Power

ClearEdge Power provides distributed energy generation solutions to commercial, institutional and residential customers. The company designs, manufactures and sells a family of continuous on-site power systems that uses fuel cell technology to efficiently deliver predictable, clean and cost-effective power and heat. This enables customers to increase independence from the electricity grid, save money and reduce greenhouse gas emissions. For more information, please visit http://www.clearedgepower.com