News and Press Releases

Marley Receives DOE Grant to Test Carbon Foam Heat Exchangers

Marley Cooling Technologies and Ceramic Composites to Test for Power Plant Cooling. U.S. Department of Energy Awards Industry Leaders $750,000 Research Grant.

CHARLOTTE, N.C. - October 13, 2004 - SPX Corporation (NYSE:SPW) today announced that its Cooling Technologies and Services business will partner with Ceramic Composites, Inc. (CCI) to research and develop an innovative heat transfer technology that could significantly decrease energy consumption and enhance water conservation within the power industry. The research, which will explore the use of high thermal conductivity carbon foam in air-cooled steam condensers for power plant cooling, is made possible through a two-year $750,000 research grant awarded by the U.S. Department of Energy, National Energy Technology Laboratory.

Working in collaboration with Ceramic Composites, a leading developer of advanced ceramic and composite materials, SPX Cooling Technologies and Services will use a portion of the grant to research the application of carbon foam within its proven air-cooled condenser technology. The benefits of such a system could include the minimization or elimination of organism intake, warm water discharge, wet or hybrid tower evaporation, pumping system maintenance, materials of construction corrosion, and internal power consumption through fans and pumps. In addition, the implementation of this state-of-the-art technology will allow power plants to better meet the standards of the Clean Water Act §316(b), which requires new and existing power plants to prevent adverse environmental impacts to aquatic organisms.

“Over the past several years, the majority of our research and development efforts have centered on technology innovations that conserve water and reduce waste,” said Jay Caraviello, President of SPX Cooling Technologies and Services. “This grant provides a great opportunity for us to work with the Department of Energy, in collaboration with Ceramic Composites, to examine the many ways in which the power industry and the environment can benefit from our technologies.”

SPX Cooling Technologies and Services is a global leader in products and services related to thermal engineering for power plants and industries. With world-renowned brands including Balcke, Hamon Dry Cooling, Marley and Rothemülle, the company manufactures and markets a wide range of equipment for use in applications including wet cooling, dry cooling, heat exchange, air pollution control and associated services. The company serves its customers through an extensive network of direct sales, distribution partners and service representatives worldwide.

SPX Corporation is a global provider of technical products and systems, industrial products and services, flow technology, cooling technologies and services, and service solutions. The Internet address for SPX Corporation’s home page is http://www.spx.com.

Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The words “believe,” “expect,” “anticipate,” “estimate,” “guidance,” “target” and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.