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Delphi News Release |
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News Release
FOR
RELEASE:
Feb. 2, 2005 CONTACT:
Barb Barkley DELPHI TO MANUFACTURE AND MARKET NEW HEAT EXCHANGER FOR WATER-FUELED AIR CONDITIONING SYSTEMS Product Named One of 2004’s Most Significant Technologies by R&D Magazine TROY, Mich. -- Delphi Corp. (NYSE: DPH) has signed an agreement with Idalex Technologies of Arvada, Colorado, to be the world’s exclusive manufacturer of heat and mass exchangers (HMX) for cooling air using a recently discovered thermodynamic cycle called the Maisotsenko Cycle (M-Cycle). With this action, Delphi expands its strategy of directing its competencies beyond the automotive market. The Coolerado Cooler, marketed by Idalex subsidiary Coolerado Corporation, is the first product introducing the HMX and the first product Delphi will supply with the technology. The Coolerado Cooler is used in a variety of applications and environments for residential, commercial and industrial facilities. It was recognized in 2004 by R&D Magazine’s 100 Awards program as one of the year’s most technologically significant products introduced to the world. The HMX is the key component in the air conditioner that uses water as the medium for cooling. In addition, the air conditioner does not use a compressor or chemical refrigerants, and the only electricity required is for a fan to move air. The HMX works by saturating a working air stream with water that incrementally pulls heat away from both the product and working air streams through unique flow path geometries. The result is unprecedented economical and energy efficient cooling. Under the agreement, Delphi will manufacture the HMX product for Idalex and other customers to incorporate into their air conditioning products. Delphi expects to begin production for Coolerado in the third quarter of 2005. Delphi and Idalex are exploring other market applications for HMX such as commercial, industrial and military applications. “This is a very exciting new technology with which we are pleased to be associated,” said Ray Johnson, thermal solutions business line executive, Delphi Thermal & Interior. “The Coolerado product offers energy efficiency and environmental benefits that could be possible in other thermal applications. We will be moving very quickly with Idalex and other customers to realize more of this technology’s great potential.” Idalex Chief Scientist and the M-Cycle’s namesake, Dr. Valeriy Maisotsenko, said, “We are very excited to have Delphi, a world leader in air conditioning and thermal technology, embrace the M-Cycle with us.” He added, “We are confident this alliance will be of great historical significance.” "The HMX product, when used in certain comfort cooling applications like Coolerado, represents at least a threefold improvement in terms of both energy efficiency and reduced environmental impact compared to most conventional systems used today,” said Coolerado President Rick Gillan. “Demand for the Coolerado Cooler is very high, with daily inquiries coming in from around the world. With a manufacturing and technology giant like Delphi now building the HMX products, supply will begin to meet demand.” For more information about Delphi and its operating subsidiaries, visit Delphi's Virtual Press Room at www.delphi.com/media/. For more information regarding the technology, visit Coolerado at www.Coolerado.com. # # # FORWARD LOOKING STATEMENTS All statements contained or incorporated in this press release which address operating performance, events or developments that we expect or anticipate may occur in the future (including statements relating to future sales or earnings expectations, savings expected as a result of our global restructurings or other initiatives, portfolio restructuring plans, volume growth, awarded sales contracts and earnings per share expectations or statements expressing general optimism about future operating results) are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management’s current views and assumptions with respect to future events. Important factors, risks and uncertainties which may cause actual results to differ from those expressed in our forward-looking statements are discussed in detail in our filings with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2003 and our disclosures filed regarding the status of the ongoing internal investigation being conducted by the audit committee of the Company’s board of directors. In particular, the achievement of projected levels of revenue, earnings, cash flow and debt levels will depend on our ability to execute our portfolio and other global restructuring plans in a manner which satisfactorily addresses any resultant antitrust or labor issues and customer concerns, any contingent liabilities related to divestitures or integration costs associated with acquisitions, and other matters; the success of our efforts to diversify our customer base and still maintain existing GM business; the continued protection and exploitation of our intellectual property to develop new products and enter new markets; and our ability to capture expected benefits of our cost reduction initiatives so as to maintain flexibility to respond to adverse and cyclical changes in general economic conditions and in the automotive industry in each market we operate, including customer cost reduction initiatives, potential increases in warranty and raw material costs, pension contributions, healthcare costs, disruptions in the labor, commodities or transportation markets caused by terrorism or war and other changes in the political and regulatory environments where we do business. Delphi does not intend or assume any obligation to update any of these forward-looking statements. |
Coolerado LLC ● 4700 West 60th Avenue, Unit 3 ● Arvada, CO, USA ● 80003
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