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<DESCRIPTION>ENVIRONMENTAL POWER CORPORATION 8-K
<TEXT>


                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

                Pursuant to Section 13 or 15(d) of the Securities
                              Exchange Act of 1934

       Date of Report (Date of earliest event reported): September 5, 2003
                                                         -----------------



                         Environmental Power Corporation
                         -------------------------------
             (Exact name of registrant as specified in its charter)


Delaware                              0-15472                   04-2782065
--------                              -------                   ----------
(State or other jurisdiction        (Commission                (IRS Employer
of incorporation)                   File Number)             Identification No.)


           One Cate Street, 4th Floor, Portsmouth, New Hampshire 03801
                    (Address of principal executive offices)


                                 (603) 431-1780
              (Registrant's telephone number, including area code)


<PAGE>



Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

(c)  Exhibits

99.  Press Release of Environmental  Power Corporation  ("POWR") dated
     September 5, 2003.

Item 9. Regulation FD Disclosure

The Press Release attached as Exhibit 99 hereto is furnished pursuant to
Regulation FD. It is not filed.

Cautionary Statement

The Private Securities Litigation Reform Act of 1995 (the "Act") provides a
"safe harbor" for forward-looking statements. Certain statements contained in
this press release such as statements concerning planned manure-to-energy
systems which will use our highly efficient and proven anaerobic digestion
technology, that our licensed technology will help clean up the significant
environmental problems, our beliefs as to providing a unique solution, our
projected financial performance, statements containing the words "expects,"
"estimates," "anticipates," "believes," "projects" and variations thereof, and
other statements contained herein regarding matters that are not historical
facts are forward looking statements as such term is defined in the Act. Because
such statements involve risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially include, but are
not limited to, uncertainties involving development stage companies, financing
and cash flow requirements and uncertainties, difficulties involved in
developing and executing on a business plan, difficulties and uncertainties
regarding acquisitions, technological uncertainties, risks relating to managing
and integrating acquired businesses, unpredictable developments (including plant
outages and repair requirements), the difficulty of estimating construction,
development, repair and maintenance costs and timeframes, the uncertainties
involved in estimating insurance and implied warranty recoveries, if any, the
inability to predict the course or outcome of any negotiations with parties
involved with Environmental Power's or Microgy's projects, uncertainties
relating to general economic and industry conditions, the amount and rate of
growth in expenses, uncertainties relating to government and regulatory
policies, the legal environment, intellectual property issues, the competitive
environment in which Environmental Power and Microgy operate and other factors,
including those described in the Company's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2003, as well as other filings with the Securities and
Exchange Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date which they are made.
Environmental Power undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.




<PAGE>




                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                                 ENVIRONMENTAL POWER CORPORATION


September 5, 2003                                 By:

                                                  //R. Jeffrey Macartney
                                                  Treasurer and
                                                  Chief Financial Officer
                                                  (principal accounting officer
                                                  and authorized officer)



</TEXT>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>a4467032ex99.txt
<DESCRIPTION>ENVIRONMENTAL POWER CORPORATION EXHIBIT 99
<TEXT>
                                                                      Exhibit 99

            Environmental Power Corporation Unveils Growth Strategy

     PORTSMOUTH, N.H.--(BUSINESS WIRE)--Sept. 5, 2003--Environmental Power
Corporation (OTCBB: POWR), a leader in the renewable industry with proprietary
technology to convert manure into electricity, announced a growth strategy
designed to achieve performance goals for fiscal 2003 through fiscal 2006.
     The purpose of the Environmental Power's growth strategy is to further
Environmental Power's long-standing objective of increasing shareholder value
and becoming a premier company in the renewable and alternative energy arenas.
     Kam Tejwani, Environmental Power's President and Chief Executive Officer,
stated, "Clearly, an important element of our growth strategy is the growth of
our Microgy Cogeneration Systems subsidiary. We believe that the opportunity for
Microgy is large. Microgy estimates a current market of up to $14 billion for
its equipment, which provides a no-cost or even profitable solution for dairy,
swine and cattle waste management, especially as farmers face tightening
environmental pressures. The major revenue source produced by Microgy's
equipment is renewable energy that we believe will be cost competitive with
conventional power. Additional revenues associated with operations and
maintenance services and incremental/ancillary revenue streams could also be
significant. Further, Microgy could generate cash flows or capital appreciation
to the extent that we retain ownership interest in some projects."
     Mr. Tejwani went on to say, "At the same time, Environmental Power's
management believes it is prudent to diversify sources of growth, through
selected acquisitions of established but growing companies with distinct
advantages in the renewable and alternative energy arenas. We believe that doing
so will not only further enhance our corporate growth prospects, but also will
hedge against the possibility of events adverse to Microgy's interests, provide
more balance among the company's holdings by filling the gap between the mature
Buzzard Power and the still-nascent Microgy, and bring in further management
talent. We intend to focus particular attention on companies with participation
in the solar and wind energy segments, as we believe each of these markets is
experiencing robust growth, with long-term expectations of continued strong
growth. Environmental Power is especially enthusiastic about targeting for
acquisition companies that participate as suppliers within the solar or wind
value chains. Also, Environmental Power is interested in acquisition
opportunities that may be synergistic with Microgy's business."
     Based upon the expected stability of its Buzzard subsidiary and growth
prospects of Microgy, Environmental Power's performance goal is to increase
revenues from an estimated $54 million in 2003 to over $200 million by 2006.
Details regarding Environmental Power's performance goals are presented on a
consolidated basis below:


$ millions
                             2003 (E)   2004 (E)   2005 (E)   2006 (E)

Power generation               $54.1     $56.0      $52.3      $50.0
Product sales                            $25.9      $69.4     $164.9
O&M fees                                  $0.0       $0.4       $1.3
Total revenues                 $54.1     $81.9     $122.2     $216.1

Total operating costs          $49.4     $70.7     $101.4     $172.9

Operating margin                $4.6     $11.3      $20.8      $43.2

Total G&A                       $5.8      $7.9      $10.6      $12.6

Operating income (loss)        -$1.1      $3.4      $10.2      $30.5

Miscellaneous income/expense   -$0.2     -$0.3      -$0.3      -$0.3
Amortization of deferred gain   $0.3      $0.3       $0.3       $0.3
Sale of NOx credits
Sunnyside settlement
Total other income (expenses)   $0.1      $0.0       $0.1       $0.0

Income before income taxes     -$1.1      $3.4      $10.2      $30.6

Taxes                           $0.5      $1.6       $4.1      $11.7

Net income                     -$1.5      $1.9       $6.1      $18.8

Avg. common shares
 outstanding              24,000,000 24,000,000 24,000,000  24,000,000

Earnings per share ($)        -$0.06     $0.08      $0.26      $0.78

Operating margin                   9%      14%        17%        20%
G&A margin                        11%      10%         9%         6%
Profit margin                     -3%       2%         5%         9%


     Joseph E. Cresci, Chairman of Environmental Power, stated, "There are, of
course, many assumptions built into, and risks associated with, our growth
strategy and the achievement of our financial and other goals, including our
ability to obtain sufficient financing, build and manage sufficient staff,
identify appropriate acquisition targets and integrate acquired companies into
our own, as well as other factors set forth in our securities filings.
Therefore, our actual operating results may well fall short of our goals.
Nevertheless, we are confident that our growth strategy represents the right
direction for the company, and we believe that it will be possible to achieve
these goals if we execute successfully on that strategy."

     ABOUT ENVIRONMENTAL POWER CORPORATION

     Environmental Power Corporation (OTCBB: POWR) is an entrepreneurial energy
company established in 1982 with annual revenues in excess of $50 million. The
company focuses on environmentally sound power generation and anaerobic
digestion systems. For more information visit the company's web site at
www.environmentalpower.com

     CAUTIONARY STATEMENT

     The Private Securities Litigation Reform Act of 1995 (the "Act") provides a
"safe harbor" for forward-looking statements. Certain statements contained in
this press release such as statements concerning planned manure-to-energy
systems which will use our highly efficient and proven anaerobic digestion
technology, that our licensed technology will help clean up the significant
environmental problems, our beliefs as to providing a unique solution, our
projected financial performance, statements containing the words "expects,"
"estimates," "anticipates," "believes," "projects" and variations thereof, and
other statements contained herein regarding matters that are not historical
facts are forward looking statements as such term is defined in the Act. Because
such statements involve risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially include, but are
not limited to, uncertainties involving development stage companies, financing
and cash flow requirements and uncertainties, difficulties involved in
developing and executing on a business plan, difficulties and uncertainties
regarding acquisitions, technological uncertainties, risks relating to managing
and integrating acquired businesses, unpredictable developments (including plant
outages and repair requirements), the difficulty of estimating construction,
development, repair and maintenance costs and timeframes, the uncertainties
involved in estimating insurance and implied warranty recoveries, if any, the
inability to predict the course or outcome of any negotiations with parties
involved with Environmental Power's or Microgy's projects, uncertainties
relating to general economic and industry conditions, the amount and rate of
growth in expenses, uncertainties relating to government and regulatory
policies, the legal environment, intellectual property issues, the competitive
environment in which Environmental Power and Microgy operate and other factors,
including those described in the Company's Quarterly Report on Form 10-Q for the
quarter ended June 30, 2003, as well as other filings with the Securities and
Exchange Commission. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date which they are made.
Environmental Power undertakes no obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

     CONTACT: Investor Contact:
              Environmental Power Corporation
              Kam Tejwani, 603-431-1780
              ktejwani@environmentalpower.com
              or
              Media Contact:
              Environmental Power Corporation
              Brecca Loh, 603-431-1780
              brecca@environmentalpower.com

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