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, 1996 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 22, 1996
BIOTEN GENERAL PARTNERSHIP
THIRD QUARTER 1996
(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). Due to additional time needed to finish construction of the CPP,
the start-up date has been revised. It is now anticipated that the CPP
will begin start-up operations and final testing in December 1996 -
January 1997. 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.
(ii) EUA Energy advanced $753,000 in loans to BIOTEN in the third quarter of
1996. On a cumulative basis EUA Energy has invested $5,212,451 in
BIOTEN, which includes amounts funded under the Research and Development
Agreement prior to the formation of the Partnership.
(iii) Services were provided by 3 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, 1996.
BIOTEN GENERAL PARTNERSHIP
CONDENSED BALANCE SHEET
September 30, 1996
(Unaudited)
(In Thousands of Dollars)
ASSETS
Fixed Assets:
Equipment, net $4,343
Land 10
Total fixed Assets 4,353
Current Assets:
Cash and temporary Cash Investments 106
Prepaid expenses 22
Total Current Assets 128
Other Assets:
Intangible assets 752
TOTAL ASSETS $5,233
LIABILITIES AND PARTNERSHIP CAPITAL
Current Liabilities:
Due to partners $ 395
Payroll taxes payable 11
Total Current Liabilities 406
Other Liabilities:
Due to partners 2,912
Total Liabilities 2,912
Partners' Capital:
Partners' Capital - EUA Bioten 1,840
Partners' Capital - Bioten LLC 75
Total Partners' Capital 1,915
Total Liabilities and Partnership Capital $5,233
CONDENSED INCOME STATEMENT
For the Quarter ended and year to date September 30, 1996
(Unaudited)
(In Thousands of Dollars)
QUARTER ENDED YTD
Operating Income $0 $0
Operating Expenses:
General and Administrative Expenses 81 145
Total Operating Expenses 81 145
Operating Income (Loss) (81) (145)
Net Income (Loss) ($81) ($145)
STATEMENT OF CASH FLOWS
For the Six Months Ended September 30, 1996
(Unaudited)
(In Thousands of Dollars)
Operating Activities:
Net Income (Loss) $(145)
Net change in current assets and liabilities 10
Net Cash (used in) Operating Activities (135)
Investing Activities:
Capital Expenditures (1917)
Net cash (used in) Investing Activities (1917)
Financing Activities:
Capital Contributions 2012
Net cash provided from Financing Activities 2012
Net increase in cash (40)
Cash at December 31, 1995 146
Cash at September 30, 1996 $106
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