« Previous | Next » | All Messages |  CPEU Message Board Home | recommend post |  Ignore Poster

CPEU News Cummins Power Generation, Inc. and BluePoint Energy Form Exclusive Strategic Alliance to Develop and Market BluePoint EnviroGen(TM) Energy Modules Worldwide

EL DORADO HILLS, Calif.--(BUSINESS WIRE)--Chapeau, Inc. d/b/a BluePoint Energy, Inc. (OTC BB: CPEU) today announced that it has entered into a definitive Strategic Alliance Agreement (the “Alliance Agreement”) with Cummins Power Generation (“Cummins”), a subsidiary of Cummins Inc. (NYSE: CMI), a global power leader serving customers in more than 160 countries through a network of 550 company-owned and independent distributor facilities and more than 5,000 dealer locations. The Alliance Agreement calls for, among other things, collaborative product development, joint marketing and selling activities and certain exclusivities between Cummins and BluePoint as defined in the Alliance Agreement.

Under the terms of the Alliance Agreement, among other things: (i) Cummins will contribute its expertise in developing, marketing, selling and distributing Cummins power generation and related products (“Cummins Products”); (ii) BluePoint will contribute its expertise in developing, engineering, packaging and financing combined heat and power (“CHP”) products 1 megawatt and below incorporating its BluePoint Energy EnviroGen™ Energy Module line of CHP products; (iii) BluePoint will integrate, manufacture and supply EnviroGen™ Energy Modules utilizing Cummins Products to be exclusively co-branded as or similar to “BluePoint Energy EnviroGen™ Energy Modules – Powered by Cummins;” and (iv) Cummins will make available for sale through its worldwide distribution network on an exclusive basis, except as otherwise precluded by any previous commitments, alliances or agreements entered into by Cummins, co-branded BluePoint Energy EnviroGen™ Energy Modules – Powered by Cummins. The Alliance Agreement has an initial term of five years but may be terminated prior thereto upon the occurrence or non-occurrence of certain events detailed in the Alliance Agreement.

Both Cummins and BluePoint foresee deriving mutual benefit from this alliance due to the additional credibility, product availability and revenues achieved as an anticipated consequence of the Alliance Agreement.

Kip Schwimmer, Director - Commercial Business, North America at Cummins Power Generation commented "Today, Cummins Power Generation, through our Energy Solutions Business, offers our combined heat and power customers a robust solution with large size packages. For customers requiring packages under one megawatt in size, we believe that BluePoint Energy is an ideal alliance partner given their industry experience, proprietary discount energy purchase agreements and existing relationships with hospitality, retail and industrial customers. We feel that BluePoint gives us the best commercial opportunity to grow market share in this emerging space."

Guy A. Archbold, Chairman and Chief Executive Officer of BluePoint Energy, stated, “This definitive alliance with Cummins Power Generation, a world leader in power generation and engine development, not only establishes a breakthrough in the worldwide development of BluePoint Energy, it simultaneously sets an entirely new benchmark for commercial development in both the cogeneration and distributed generation industries. Never before has an engine generator manufacturer of such stellar reputation aligned itself this closely with a power generation manufacturer such as BluePoint Energy. We are extremely humbled and proud to be so closely associated with a company with so prestigious a history as Cummins Inc. and believe that it positions BluePoint to expand our business globally and to do so rapidly. The potential of this Strategic Alliance Agreement and our future collaboration with Cummins is obviously enormous to BluePoint, marking our Company as a bona fide solutions provider in the world energy market.”

Archbold concluded, “The untapped worldwide potential of distributed energy and the burgeoning cogeneration market is significant and well-chronicled. We are confident that this alliance with Cummins will dramatically accelerate our ability to deliver BluePoint EnviroGen™ Energy Modules – Powered by Cummins to satisfy the increasing domestic and worldwide demand for clean, reliable and cost-efficient onsite energy. Our new and evolving relationship with Cummins not only sets new standards in the packaged cogeneration market below one megawatt, but it also creates a new threshold of excellence within the industry.”

About Cummins Power Generation, Inc.

Cummins Power Generation is an industry leader in introducing advanced low-emissions power generation solutions around the world. With over 80 years’ experience, the company’s global distributor network innovative, reliable and cost-effective solutions for any power need – commercial, industrial, recreational, emergency and residential. Products include alternators, generator-drive engines and temporary or permanent pre-integrated power systems, combining generator sets and power control and transfer technologies. Services range from system design, project management, financing and operation and maintenance contracts to development of turnkey power plants.

Cummins Power Generation is a subsidiary of Cummins Inc. (NYSE: CMI), a global power leader and a corporation of complementary business units that design, manufacture, distribute and service engines and related technologies, including fuel systems, controls, air handling, filtration, emission solutions and electrical power generation systems. Headquartered in Columbus, Indiana, (USA) Cummins serves customers in more than 160 countries through its network of 550 Company-owned and independent distributor facilities and more than 5,000 dealer locations. Cummins reported net income of $550 million on sales of $9.9 billion in 2005. For more information, visit the company’s website at www.cummins.com.

About Chapeau, Inc. d/b/a BluePoint Energy, Inc.

Chapeau, Inc. d/b/a BluePoint Energy, Inc. designs, assembles and sells packaged combined heat and power (CHP) and combined cooling, heat and power (CCHP) modules with ultra-clean emissions employing proprietary technology under the trademark EnviroGen™. Chapeau utilizes its proprietary build, own, operate and maintain discount energy purchase agreement financial model to provide reliable, efficient, clean and cost-effective energy solutions to the end user. For more information, call 916-939-8700 or visit the Company’s website at www.bluepointenergy.com.

The foregoing is news relating to Chapeau, Inc. d/b/a BluePoint Energy, Inc. (the “Company”) and contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. When used in this report, the words “anticipate,” “believe,” “estimate,” “expect” and similar expressions as they relate to the Company or its management, including without limitation, Chapeau, Inc. d/b/a BluePoint Energy, Inc. (as defined herein) and/or the Company’s other subsidiaries, are intended to identify such forward-looking statements. The Company’s actual results, performance or achievements could differ materially from the results expressed in, or implied by these forward-looking statements. For a discussion of additional factors that may affect actual results, investors or interested parties should refer to the Company’s filings with the Securities and Exchange Commission; in particular, its annual report on Form 10-K, most current 10Q and other filings as may be relevant. This does not constitute an offer to buy or sell securities by the Company, its subsidiaries or any associated party and is meant purely for informational purposes.