" TerraWatt Power is a wholly-owned subsidiary of Advanced Energy Conversion, LLC (AEC), an engineering company with expertise in developing systems solutions using power electronics, embedded controls and mechatronics. Founded in 1997 by David Torrey, PhD, AEC grew out of the electric power engineering program at Rensselaer Polytechnic Institute, Troy, NY. The focus at AEC is to find solutions to market-based problems by improving energy efficiency, reducing emissions and increasing functionality. AEC’s activities are composed of two separate business units: the Contract Engineering Division and TerraWatt Power, the Products Division. TerraWatt Power was created three years ago in response to opportunities created by developments in the energy markets. The goal of TerraWatt Power is to drive company revenues and profits by developing and bringing to market, proprietary products based on the expanding technology portfolio being generated by AEC’s contractual R&D activities. Currently, the first product created by TerraWatt Power — the innovative ecoJoule® 2500 inverter, which is used in solar installations — is being introduced to the market. The other half of AEC, the Contract Engineering Division provides state and federal government clients, as well as leading corporate clients, with consulting and contract R&D work in energy conversion applications. Such clients include: Sandia National Laboratories/American Electric Power; U.S. Department of Energy; Dana Corporation; NYSERDA/Niagara Mohawk Power Corporation; Eastman Kodak; General Motors; Railpower Hybrid Technologies; Vairex Corporation; Espey Electronics & Manufacturing Corporation; Lockheed Martin; and the U.S. Navy, among others. The Contract Engineering Division has served to generate a base of revenue for the Company as well as to expand a portfolio of proprietary technology and patents. It has also provided our Company with a well respected reputation for our technical expertise and performance reliability in the marketplace. "

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