HILLSBORO, Ore. — ClearEdge Power, a manufacturer of fuel cell systems, announced that it has reached an agreement to acquire UTC Power, a unit of United Technologies Corp., which also develops and manufactures fuel cells.

“We are excited about the strategic combination of ClearEdge Power and UTC Power to address the demand for clean, continuous, distributed power solutions,” said David B. Wright, ClearEdge Power president and CEO. “The wealth of talent, intellectual capital, and technology platforms enables us to provide highly innovative product and service solutions to our customers.”

The transaction is subject to customary closing conditions. Closing is expected early in 2013.

ClearEdge Power provides its fuel cell solutions to commercial, institutional, and residential customers. For more information, visit www.clearedgepower.com.

Publication date: 12/24/2012