Nextek Power Systems Attracts Green Investment


Hauppauge, NY July 19, 2004- Nextek Power Systems, Inc., the provider of unique Direct Coupled® power solutions, announced today the closing of a lead investor in the company’s Series C Convertible Preferred Shares by one of the Peter Martin Wege Trusts.

Nextek has developed and commercialized the first generation of a key power appliance that will one day be universal: the power router (animation at: www.directcoupling.com). It is an essential device that enables the integration of multiple sources of power, both those of distributed generation and the utility grid. Like the development of network computing, this product brings a new level of connectivity to the world’s electrical infrastructure by creating local area networks for power which include energy storage.

As world energy usage continues to grow, and the limits of fossil fuels become more obvious in terms of supply and environmental sustainability, the wider adoption of the Nextek power module could not be more timely. This patented device changes the economic profile of alternative energy sources by allowing local sources of power to be used first, when, where and how they are available. This modular power system seamlessly integrates with the existing power grid via the patented router allowing the high efficiency use of alternative energy sources such as solar PV, wind turbines, fuel cells and most other forms of distributed generation in concert with secure, stored electricity.

Nextek’s lead investor in the Series C, like the Wege Foundation, was financed with shares of Steelcase Incorporated (NYSE: SCS). The author of the book Economicology, Peter Wege, organized the Foundation to promote fundamental principles that marry ecology and economy to support sustainable growth. Peter’s son, Jonathan Wege, who is the chairman of the Broadleaf Foundation, has joined Nextek’s Board of Directors in connection with the investment. He added “Nextek is promoting efficient, sustainable energy sources which are critical to environmental health and offer great opportunity for economic growth. This partnering of philosophy and technology should prove to be invaluable to individuals, industry and the environment”.

CONTACT- Nextek Power Systems, Inc., Paul Savage CEO (631) 750-1000; pauls@nextekpower.com

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