SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
- ---------------------------------------------
In the Matter of :
:
EUA ENERGY INVESTMENT CORPORATION :
(EUA ENERGY) :
BOSTON, MA : Certificate of
: Notification
: Pursuant to Rule 24,
: Interim Report
:
(70-8617) :
:
(Public Utility Holding Company Act of 1935):
- ---------------------------------------------
In accordance with the terms and conditions of Rule 24 under
the Public Utility Holding Company Act of 1935, and the Order of
the Commission dated June 21, 1995 Release No. 35-26314 (the "Order")
authorizing transactions as more fully described in the Application-
Declaration as amended (the "Application"), the undersigned hereby encloses
herewith for filing pursuant to the above-referenced Order are the balance
sheet, the income statement, and the statement of cash flows of BIOTEN
Partnership for the period ended September 30, 1995, and other information
required to be filed by said Order.
Very truly yours,
EUA ENERGY INVESTMENT CORPORATION
By: /s/ Clifford J. Hebert, Jr.
Clifford J. Hebert, Jr.
Treasurer
Dated: November 27, 1995
BIOTEN GENERAL PARTNERSHIP
THIRD QUARTER 1995
(i) BIOTEN is currently involved in the research, development, and marketing
of a biomass-fired combustion turbine power generating facility. Current
operations consist of the development of a commercial prototype plant
(CPP). It is anticipated that the CPP will begin start-up operations and
testing in late December 1995. There are no current sales. Revenues are
anticipated to come from the sale of commercial plants modeled after a
successfully completed CPP. In addition a small amount of revenues may
come from the sale of electricity generated by the CPP.
The BIOTEN General Partnership was formed on June 26, 1995. The balance
sheet and statement of cash flows include information from inception of
the partnership through September 30, 1995. The income statement year to
date also includes activity from inception. The income statement quarter
ended includes activity from July 1, 1995 through September 30, 1995.
(ii) EUA Energy advanced $660,000 in capital contributions to BIOTEN in the
third quarter of 1995. On a cumulative basis EUA Energy has invested
$2,192,451 in BIOTEN, which includes amounts funded under the Research
and Development Agreement prior to the formation of the Partnership.
(iii) Services were provided by 2 EUA Service Corporation staff personnel in
the following areas:
a. Marketing and planning
b. Budgeting and funding requirements
c. Construction management & scheduling
(iv) BIOTEN's Financial Statements through September 30, 1995.
BIOTEN GENERAL PARTNERSHIP
CONDENSED BALANCE SHEET
September 30, 1995
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Equipment, net $1,209
Total fixed Assets 1,209
Current Assets:
Cash and temporary Cash Investments 86
Total Current Assets 86
TOTAL ASSETS $1,295
PARTNERSHIP EQUITY
Partnership Equity:
Partnership Equity - EUA BIOTEN $1,219
Partnership Equity - NCRSCo 76
Total Partnership Equity 1,295
CONDENSED INCOME STATEMENT
For the Quarter ended and year to date September 30, 1995
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
Research and Development Expenses 169 260
General and Administrative Expenses 95 224
Total Operating Expenses 264 484
Operating Income (Loss) (264) (484)
Net Income (Loss) ($264) ($484)
STATEMENT OF CASH FLOWS
For the Period Ended September 30, 1995
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Pre-tax Net Income (Loss) ($484)
Net Cash (used in) Operating Activities (484)
Financing Activities:
Equity Contributions 1,350
Net cash provided from Financing Activities 1,350
Investing Activities:
Capital Expenditures (780)
Net cash (used in) Investing Activities (780)
Net Cash Provided 86
Supplemental schedule of non-cash investing and financing activities:
Contribution of equipment, land, and buildings
in exchange for increased partnership equity $428
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