Astris Energi Secures Funds to Complete Fuel Cell Development Project
24 March 2000
Astris Energi Secures Funds to Complete Fuel Cell Development Project
MISSISSAUGA, Ontario, Canada--March 24, 2000--Astri Energi Inc. (OTCBB: ASRF) a pioneer developer of small vehicle and portable fuel cell systems, Friday reported that it has generated internally all the funds needed for its current program to produce a commercial fuel-cell-driven golf cart as an example of its system's capabilities.The project is expected to be completed within a year, according to Jiri K. Nor, the company's president and technical leader.
Astris Energi, with 17 years' experience in fuel cell development and design, is now specializing in 1 to 5-kilowatt power systems which are suitable not only for golf carts but also for the millions of other small vehicles, including, in-plant transporters, airport ramp vehicles, retirement community carts and portable electric power generators.
Much of the work on the golf cart project will be performed at the company's subsidiary facility in the Czech Republic, which has extensive experience in designing and manufacturing the cathode and anode plates which are key elements in the Alkaline Fuel Technology (AFC) utilized by Astris, according to Nor. Prototype 1 and 4-kilowatt systems have already been produced there, he added.
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 Federal security laws. Forward-looking statements are subject to risks, uncertainties and other factors, including but not limited to, those described in Astris Energi's filings with the Securities and Exchange Commission. Such forward-looking statements are only predictions and may differ materially from actual future events or results.