SRT Group Announces Major Agreement with National Power PLC
19 July 1999
SRT Group Announces Major Agreement with National Power PLC
System to Provide Low-Cost Hydrogen for Future Hydrogen-Fueled Vehicles
MIAMI, Fla., July 19 -- SRT Group, Inc., a leader in
developing hydrogen and renewable energy-storage systems, announced today it
has finalized a cooperative agreement with National Power PLC
(London Stock Exchange: NPR), a major electric power-generating company in the
United Kingdom, to develop a low-cost reversible fuel cell for its hydrogen
production and electrical energy-storage system.
This agreement comes just two months following the General Motors and
Toyota alliance to develop a clean-fuel vehicle and California Governor Gray
Davis' announcement that DaimlerChrysler, Ford, Ballard, ARCO, Shell and
Texaco will partner to demonstrate clean transportation technology in
California.
The SRT/NP team is developing the reversible fuel cell under one of two
cooperative agreements that SRT has with the U.S. Department of Energy (DOE).
The agreements announced in May valued at US$7.7 million, are significant
steps toward realizing hydrogen as a transportation fuel and fuel-cell based
distributed power.
"The push for this type of product is coming from both the consumer and
industry, with substantial financial support from the U.S Department of
Energy," said Robin Parker, President of SRT Group, Inc. "All recognize the
problems in dealing with pollution and realize that something has to be done
to improve the existing situation and to provide an alternative for emerging
economies worldwide."
The SRT/NP system links low-cost, off-peak power generating capacity and
hydrogen production through an energy-storage system. This dual use of the
system permits the production of inexpensive hydrogen while co-providing a
reduction in on-peak energy costs. Analysis of the system revealed potential
costs to be highly competitive compared with conventionally delivered hydrogen
and on-peak generating systems.
Neil P. Rossmeissl, DOE Hydrogen Program Manager explained, "For hydrogen
to successfully serve in the marketplace it must be competitive with other
conventional fossil fuels and the technology to use it must be safe, reliable
and customer friendly." Rossmeissl added, "The SRT technology can meet all of
these requirements, it's unfortunate that the technology is not already
commercial."
National Power is a major electrical company in the UK and is currently
launching its Regenesys(TM) large-scale energy-storage system; the SRT cell
will use a variation of this technology.
The SRT/NP system will provide distributed high-quality, reliable
electricity without the need for more transmission lines or power plants, and
produce and dispense hydrogen to refuel the transportation vehicles that are
now under development by all major vehicle manufactures.
Parker added, "Automakers around the world are scrambling to be the first
to produce cars that burn hydrogen in fuel cells to provide clean, non-
polluting power. There is just one catch; hydrogen is too expensive today to
compete with gasoline. The SRT/National Power team aims to change all that."
Furthermore Parker stated, "The introduction of distributed energy storage
provides a timely solution to utility capacity shortages and transmission
overloads which prompted the recent Northeastern electric blackouts. Energy
storage coupled with hydrogen production should be an important part of any
utility's future generating mix."
Note:
Robin Z. Parker, President of SRT, and his father, noted Miami architect
Alfred Browning Parker, have pursued the dream of developing inexpensive and
clean energy systems since the oil embargo of the 70s. Their prime candidate
became hydrogen, an ideal fuel for a variety of reasons. Because hydrogen and
oxygen make up water, there is a practically endless supply. Hydrogen as a
fuel is highly energetic, it's the primary fuel for space flight -- and yet it
burns, reforming water, virtually pollution free.
Founded in 1984 and based in Miami, SRT is a leader in the development of
hydrogen and renewable energy-storage systems. SRT holds numerous patents on
this technology at a time when a variety of hydrogen fuel-cell partnerships
are emerging in the transportation and utility sectors. Its commercial
application of proprietary technology contributes to the founders' desire to
improve the world's energy infrastructure to the benefit of its environment.
National Power PLC develops, acquires, owns and operates power plants
worldwide. It a leading electric power generating company in the United
Kingdom, where it owns 16,133 megawatts, and internationally where it has
ownership interests in plants with gross generating capacity of 21,000
megawatts. National Power can be reached on the Internet at
http://www.national-power.com .