Alternate Energy Corp. Technology Solves Key Problems Keeping Fuel Cell Vehicles From The Consumer Market
LAS VEGAS--Sept. 25, 2003--| Company's Proprietary Technology Overcomes Price, Distribution, And Safety Obstacles |
The Alternative Energy Corporation (OTCBB:ARGY) made automotive industry in-roads this week when it purchased technology that will enable the company to offer safe and affordable hydrogen to fuel cell vehicle owners all over the world.
In an arena plagued with false starts, the fuel cell vehicle industry has long awaited a fuel solution that reflects the safety and affordability found in traditional gas-powered vehicles. AEC's inexpensive hydrogen technology is expected to help make hydrogen-fueled engines outperform in these two primary areas.
According to AEC chairman Blaine Froats, "We are eager to introduce our technology to the fuel cell car market. Adoption of hydrogen-fueled cars by the general public has always been held back by a number of serious challenges; cost, perception of safety and hydrogen distribution. Fuel cell vehicles and the hydrogen fuel that runs them have been too expensive and out-of-reach for the average consumer. In addition, whether it be true or not, the public's perception of compressed hydrogen tanks as being unsafe is a barrier. Shifting people's attitudes away from these issues has been very difficult for all involved, so at an early stage of development we decided to avoid these challenges by simply going around them. "
In plain terms, the company's technology, which saw its first successful fuel cell testing last week, submerges a number of its specialized fuel plates in water to create the affordable hydrogen. The system is designed to produce the hydrogen only when the fuel cell requires it. Effectively, the hydrogen produced is consumed as quickly as it is made. Since there is no longer a requirement to store the hydrogen, its safety can be compared more closely to a typical car battery versus that of a high-pressure propane tank in a car trunk.
In addition, though the hydrogen production unit has yet to be tested on a fuel cell vehicle (except a golf cart), engineering estimates indicate the plates to have outstanding longevity. Because the attrition rate of the on-board plates is very small, the frequency of "re-fueling" is greatly reduced and is more comparable to a quarterly oil change versus a weekly fill-up.
"This technology is very promising as it would completely avoid the huge hurdle of having to build a nationwide filling station infrastructure, as plate replacement can be handled by any mechanic that is authorized to install our technology. As for the fuel cell automakers - they still have the challenge of building safe, affordable cars with performance characteristics that the consumer expects. We are simply making their product more appealing by lowering their fuel/operational costs safely," says Froats.
With emissions restrictions for automobiles becoming more stringent every year, the demand for non-polluting vehicles is increasing at an exponential rate. However, the extremely high prices and poor performance characteristics of early offerings such as the GM Impact and the Chrysler TE Van left them on showroom floors all over America. Buyers were unwilling to pay exotic luxury car prices for vehicles that could not outperform bottom-of-the-line economy cars.
While many automakers have tested the waters with hybrid vehicle concepts, these cars still produce the same emissions that the conventional cars generate; they just produce less of them. Hydrogen powered vehicles only produce air and clean water as by-products. In addition, hydrogen powered vehicle engines are typically silent or at least very quiet.
According to The Energy Site CEO Mick Barron, "This could be really huge for the automotive industry in general and AEC in particular. Their timing is right on with this and the public is primed and ready."
About Alternate Energy Corporation (AEC):
Founded in March of 2000, AEC is a leading developer of cost-effective, environmentally responsive fuels and electric power solutions. The company's mission is to contribute to an environmentally sound, alternative energy future. The company is the patent holder of power recovery and fuel-cell-quality hydrogen production technologies for residential, commercial and industrial use.
Additional information is also available at the company's website at www.cleanwatts.com or www.alternateenergycorp.com