The name says it all! (Please excuse Bad English, i am German and not that good with Spelling)
It takes Energy and convertes it into Items (Like EE-Energycondenser).
It should also work like a Recycler and convert the stuff into the required items/blocks or save some power while replicating the item/block. It should take up too H-Voltage and eat like 5-30 eu/t
Here my idea for the recipe:
Note: =Mass Fabricator
EDIT:
It would make things easyer because it combines 2 machines and you dont have to remember all the recipies with the uu mater ;D