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<DESCRIPTION>ENVIRONMENTAL POWER 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): December 22, 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 December
     22, 2003

Item 9. Regulation FD Disclosure

The Press Release attached as Exhibit 99 hereto is furnished pursuant to
Regulation FD.

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, including 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 on 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>




                                    SIGNATURE


         Pursuant to the requirements of section 13 or 15 (d) 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
                                /s/ Donald A. Livingston
                                ------------------------
                                Executive Vice President




</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>a4538950ex99.txt
<DESCRIPTION>EXHIBIT 99 PRESS RELEASE
<TEXT>
                                                                 Exhibit 99

Environmental Power Corporation's Microgy Subsidiary Executes
Agreement for Construction and Sale of First Digester Project

    PORTSMOUTH, N.H.--(BUSINESS WIRE)--Dec. 22, 2003--Environmental
Power Corporation (OTCBB: POWR), a leader in the renewable energy
industry with proprietary technology to convert manure into
electricity, announced that its subsidiary, Microgy Cogeneration
Systems, Inc. ("Microgy"), had signed an agreement with an entity
owned by Wild Rose Dairy, LLC of LaFarge, Wisconsin ("Wild Rose"),
pursuant to which Wild Rose will purchase from Microgy the first
digester system in North America based on Microgy's proprietary,
highly efficient anaerobic digestion technology, proven at more than
25 locations in Europe.
    The Wild Rose project represents the first facility in connection
with Microgy's relationship with Dairyland Power Cooperative
("Dairyland"), under which Microgy expects to construct approximately
$60 million of projects in Dairyland's service territory. The Wild
Rose digester system will use manure from Wild Rose's dairy operations
to create and supply biogas to a 0.775 MW generator to be constructed
by Microgy and owned by Dairyland. The Dairyland Board of Directors
has approved the Wild Rose project, and Dairyland and Wild Rose are
expected to execute a biogas supply agreement in the immediate future.
Microgy's agreement with Wild Rose also provides Microgy with the
right to operate and maintain the digester for the duration of its
operational life.
    Robert Thelen, owner of Wild Rose, stated, "I am deeply impressed
by Microgy's technology. It represents an elegant solution to a number
of challenges faced by farms like Wild Rose. By installing Microgy's
digester technology on my farm, I expect to be able to operate in a
more environmentally-friendly fashion while also creating a valuable,
income-producing asset."
    Andy Livingston, Microgy's President, stated, "The execution of
this agreement with Wild Rose represents a significant step forward
for Microgy's business. We are excited about working with Robert
Thelen, a forward-thinking leader in the Wisconsin dairy industry, and
are confident that, working together, we will create a model for farms
throughout Dairyland's territory to enjoy the benefits of this
technology."
    Kam Tejwani, Chief Executive Officer of Environmental Power,
stated, "The Wild Rose project represents our first commercialization
of Microgy's technology in North America, as well as the first
realization of a project from our $152 million sales pipeline. We
believe that our backlog of projects ready to enter construction will
increase substantially even as we continue to increase our sales
pipeline by identifying additional market opportunities."

    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, our sales pipeline, our
projected financial performance, statements containing the words
"expects," "estimates," "anticipates," "believes," "projects" and
variations thereof, and other statements contained in this press
release 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, uncertainties regarding project
financing, the lack of binding commitments and the need to negotiate
and execute definitive agreements for the construction and financing
of projects, 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 September 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 that 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: Environmental Power Corporation
             Investor Contact:
             Kam Tejwani, 603-431-1780
             President and Chief Executive Officer
             ktejwani@environmentalpower.com
             or
             Media Contact:
             Kate Dolan, 603-431-1780
             Media & Public Relations
             kdolan@environmentalpower.com
             www.environmentalpower.com


</TEXT>
</DOCUMENT>
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