Astris Energi Applies for Bulletin Board Listing, Slates First U.S. Demo of Fuel Cell-Powered Golf Car

    MISSISSAUGA, Ontario, Canada--May 16, 2001-- Astris Energi Inc. (OTC: ASRF) Wednesday reported two major steps forward.
    First, the company has filed for listing of its common stock on the Bulletin Board Service in the United States, and second, it has scheduled the initial U.S. demonstration of its alkaline fuel cell-powered golf car, the first such vehicle in the world.
    Gordon Emerson, chief financial officer and director, said recent certification of Astris as a full-reporting company cleared the way for Bulletin Board listing and all required documentation was submitted May 11. Early approval is anticipated, he added.
    Astris, a pioneering developer of alkaline fuel cell power systems, also announced that it has accepted an invitation to demonstrate its fuel cell-driven golf car in the United States May 31 at the State Capitol in Minneapolis-St.Paul, Minn. during a major conference of clean transportation and alternative fuel advocates from around the country.
    The Astris golf car, with its fuel cell energy system, was successfully showcased for the first time last week at a private showing for some 70 invited guests at a golf and country club near Toronto.
    The system generates electric power by combining hydrogen gas with oxygen from the air, is noiseless, odorless and produces no pollutants, Emerson explained, adding that the only by-product is pure water.
    The same fuel cell "engine" is suitable for powering a wide range of similar small vehicles, including material movers in plants and people movers everywhere. Astris also has completed and field tested a somewhat larger alkaline system that can supply electricity, heat and hot water for individual homes, motor homes or boats.

    NOTE: Any statements contained in this release that are not statements of fact may be considered "forward-looking statements" as that term is defined under U.S. Federal security laws. Forward-looking statements are only predictions and may differ materially from actual events or results.

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