In January 1998, Universal Electric Power Corp. was founded on the premise that an attractively priced and environmentally friendly family of turbine/generators will revive America's hydropower development industry and provide a means of economically constructing clean energy systems worldwide. Of all the technologies available today for building power plants and adding increased capacity to existing plants, Universal Electric Power Corp. (UEP) offers a turbine/generating system that produces electricity at a lower cost per kilowatt-hour (KWh) than any other process. Through its patented advanced hydroelectric turbine, UEP provides renewable resource energy, which is more economical than fossil fuels, nuclear and all other renewables, including traditional hydroelectric technologies. In addition to its low cost and high performance, the UEP system is friendly to the environment. UEP provides existing operators of hydroelectric facilities the opportunity to boost output immediately and dramatically, at payback periods of approximately three years. UEP also offers the opportunity to cost-effectively convert non-power producing dams into significant power generators. Universal Electric's business model derives from a simple concept: traditional hydropower projects are prohibitively expensive to license and build, but inexpensive to operate as compared to thermal-powered plants. UEP has solved the problem of high up-front costs, with an above-ground system that does not require major civil construction and engineering, yet retains the benefits of hydroelectric power, including extremely low marginal costs and utilization of renewable energy resources.