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Eaton, HP TO Collaborate On Federally Funded Energy Efficiency Project - Update

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1/13/2010 6:23 PM ET

Wednesday, power management company Eaton Corp. (ETN: Quote) said it was collaborating with HP on a federally funded project to improve energy efficiency in information technology systems. Among the 14 projects chosen by the U.S. Department of Energy, the joint proposal from Eaton and HP was selected as the third-largest grant recipient at $7.4 million.

The company said that the joint project with HP will develop a fully enclosed IT rack system that provides its own internal power and cooling. High voltage and chilled water will act as the primary inputs to the system and it will also accept alternative energy power sources, such as wind and solar power. A major benefit of this system is a 38% reduction in energy use to support a 100 kilowatt IT load, which equals a reduction in carbon dioxide emissions by approximately 400 tons annually.

"With this grant, Eaton and HP's combined expertise will enable us to create an innovative technology solution that increases energy efficiency and meets government mandates to reduce carbon emissions while diminishing the need to build new power plants to support data centers," said Doug Oathout, vice president of Converged Infrastructure, HP.

On January 6, 2010, Energy Secretary Steven Chu announced the U.S. Department of Energy initiative, which includes $47 million for projects across the country to support the development of new technologies that improve energy efficiency in the IT and communication technology sectors. The American Recovery and Reinvestment Act, also known as the Stimulus Program, will fund the research for development and demonstration projects in three subject areas: equipment and software, power supply chain and cooling.

The energy efficiency projects will reduce energy use and carbon pollution, while helping to develop a strong, competitive domestic industry.

Eaton's 2008 sales were $15.4 billion. Eaton has approximately 70,000 employees and sells products to customers in more than 150 countries.

ETN closed Wednesday's last trade at $68.89, up $0.70 or 1.03% on a volume of 1.58 million shares on the New York Stock Exchange.

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by RTT Staff Writer

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