Distributed Energy Systems Corp. creates and delivers products and solutions to the energy marketplace, giving users control over their energy cost, quality and reliability. Distributed Energy is the parent company of two established businesses: Proton Energy Systems, Inc. (Proton) and Northern Power Systems, Inc. (Northern). Proton develops technology related to hydrogen production and fuel cell applications. Northern designs and integrates projects that meet critical energy needs with an array of proven technologies, including renewables, combustion and batteries. For the year ended December 31, 2003, Distributed Energy's contract revenue from government-sponsored agencies accounted for approximately 29% of total revenue. During 2003, sales to British Petroleum Exploration totaled approximately 18% of total revenue.