ENVIRONMENTAL <POWR.O> FILES FOR OFFERING
Environmental Power Corp said it filed a
statement with the Securities and Exchange Commission for the
offering of two mln shares of its common.
    All shares are being sold by the company and Drexel Burnham
Lambert Inc is the sole manager of the offering.
    Environmental said 400,000 dlrs of the net proceeds will be
used to pay a portion of the purchase price of the capital
stock of <Milesburg Energy Inc> and the remainder to repay up
to one mln dlrs in short-term debt and general coporate
purposes.
 Reuter
