Wärtsilä and Versa Power agree to jointly dev...

Wärtsilä Corporation, Trade and Technical Press release, 3 June 2011

Solid oxide fuel cell modules to be integrated in stand-alone energy-generation
and marine products

Wärtsilä, the leading provider of power solutions to both the marine and energy
markets, and Versa Power Systems (VPS), a leading developer of environmentally
friendly, high-power solid oxide fuel cells (SOFC), today announced a co-
operative agreement to develop and integrate Versa Power's SOFC technology into
Wärtsilä products.

A key target of the agreement is to develop commercial Wärtsilä fuel cell
products that generate power and heat for various applications in the
distributed energy and marine markets. The agreement allows Wärtsilä to
integrate VPS fuel cell stack modules, especially for larger power range
products. For VPS, the agreement provides a dedicated partner with the ability
to commercialize fuel cell products in large markets around the globe.

"VPS is leading the development of large SOFC stacks, and the company's
capabilities support Wärtsilä's strategy of developing large SOFC systems for
the distributed power and marine markets. The agreement with VPS strengthens
Wärtsilä's ability to provide its customers with clean and highly efficient
power solutions. Demand is developing rapidly and the commercial potential for
such products is very promising," says Erkko Fontell, Director, Fuel Cells,
Wärtsilä.

"Solid oxide fuel cells have low emissions, yet they produce relatively large
amounts of electricity for their size," says Robert Stokes, CEO of Versa Power
Systems. "Combining the expertise of our two companies will help meet the
growing commercial demand for compact, high-efficiency products."


An essential element in Wärtsilä's strategy

Advancing and commercializing fuel cell products is part of Wärtsilä's long-term
development strategy. Offering customers environmentally sound and sustainable
energy production technologies is an essential part of the company's strategy.
This co-operation with VPS supports the commercialization of fuel cell products
by strengthening the development and supply partnerships.

Wärtsilä has already launched successful pilot projects using fuel cell
technology supplied by Topsoe Fuel Cell A/S headquartered in Denmark, and this
co-operation will continue as planned. In 2008, Wärtsilä delivered a unique fuel
cell unit that operates on landfill gas and produces electricity and heat for
the city of Vaasa in Finland. In the summer of 2010, a WFC20 fuel cell unit was
installed onboard the Undine, a car carrier owned by Sweden's Wallenius Lines,
for tests associated with the METHAPU project. Additionally, Wärtsilä has
developed 50 kW WFC50 power units for internal validation.

Fuel cells are electro-chemical devices that combine a fuel source gas with
oxygen to produce electricity, heat, and water. The absence of combustion
processes significantly reduces harmful emissions of nitrogen and sulphur oxides
(NOx and SOx) and particulate emissions are essentially zero. As electricity is
generated directly and involves no intermediate mechanical or thermal processes,
fuel cells can also be more efficient than conventional combustion-based
technologies.

Fuel cells are considered to be one of the most exciting energy technologies for
the future. Power solutions based on fuel cell technology are expected to offer
significant benefits in power generation applications as well as in the shipping
industry, where international emission regulations are becoming increasingly
stringent.

For further information, please contact:

Erkko Fontell
Director, Fuel Cells
Wärtsilä
Tel: [phone]
[e-mail]

Tuula Franck
Senior Manager, Media and Stakeholder Relations
Wärtsilä Corporation
Tel: [phone]
[e-mail]

Mark Richards
Investor and Partner Relations
Versa Power Systems
Tel: [phone]
[e-mail]

Jack Jackson
Media Relations
Versa Power Systems
Tel: [phone] x-715
[e-mail]

Wärtsilä in brief

Wärtsilä is a global leader in complete lifecycle power solutions for the marine
and energy markets. By emphasising technological innovation and total
efficiency, Wärtsilä maximises the environmental and economic performance of the
vessels and power plants of its customers. In 2010, Wärtsilä's net sales
totalled EUR 4.6 billion with more than 17,500 employees. The company has
operations in 160 locations in 70 countries around the world. Wärtsilä is listed
on the NASDAQ OMX Helsinki, Finland.

www.wartsila.com


VPS in brief

Versa Power Systems  is a premier developer of environmentally friendly solid
oxide fuel cells (SOFC), a clean-tech source of power to generate electricity in
an array of applications. SOFC systems operate at very high efficiency with
virtually no emissions, making them valuable in conserving natural resources and
mitigating energy production's impact on the ecosystem. Versa Power's successes
in scaling up SOFC technology have been funded under the U.S. Department of
Energy's Solid State Energy Conversion Alliance (SECA) program and through
financial support of its corporate investors. The company's technology is
integrated in projects by partners ranging from government agencies (the U.S.
Departments of Energy and Defense) and private sector aerospace and energy
concerns to organizations focused on energy (EPRI and GTI). Headquartered in
Littleton, Colo., the firm also maintains development facilities in Calgary,
Alberta.

www.versa-power.com







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Source: Wärtsilä Oyj Abp via Thomson Reuters ONE

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