Proton Energy Systems Joins California Fuel Cell Partnership to Demonstrate Hydrogen Fueling Technology
28 November 2000
Proton Energy Systems Joins California Fuel Cell Partnership to Demonstrate Hydrogen Fueling Technology
ROCKY HILL, Conn.--Nov. 28, 2000--Proton Energy Systems, Inc. , a leader in practical application of Proton Exchange Membrane (PEM) electrochemical technology, announced that it has accepted an invitation to join the California Fuel Cell Partnership as an Associate Member. The Partnership is a public-private collaboration of major automakers, fuel cell developers, energy providers and governmental and private facilitating organizations all committed to demonstrate and commercialize fuel cell electric vehicles. The Partnership is expected to place about 70 fuel cell passenger cars and fuel cell buses on the road in California by 2003.In order to facilitate the deployment of fuel cell electric vehicles, the Partnership is investigating the fuel infrastructure required to supply the hydrogen fuel needed by these vehicles. Proton Energy Systems has agreed to make fuel generation equipment based on the company's proprietary FuelGen(TM) hydrogen supply systems available to the Partnership for demonstration purposes. FuelGen hydrogen generators produce pressurized hydrogen from electricity and water in a clean and efficient process using Proton's proprietary advanced PEM electrolysis technology. These systems are designed to provide a practical and cost-effective solution to the hydrogen fuel infrastructure challenge. Because traditional refueling stations are already served by water and power systems, Proton's FuelGen systems offer a low cost approach to meeting the hydrogen fuel infrastructure challenge.
On joining the Partnership, Walter (Chip) Schroeder, Proton's President and CEO remarked, "We are excited to be part of the pathfinding efforts of the Partnership and to be able to work first hand with these world-leading companies to demonstrate how PEM technology is a practical way to make hydrogen at traditional refueling stations. Proton's technology is designed to convert low cost excess electricity as well as renewable energy into high value transportation fuel. Because our technology creates hydrogen at pressure, we believe that we are especially well positioned to meet the needs of early generation fuel cell vehicles on a cost-efficient basis.
The California Fuel Cell Partnership
The Partnership -- which formally began in April 1999 -- includes auto manufacturers (DaimlerChrysler, Ford, GM, Honda, Hyundai, Nissan, Toyota, and Volkswagen), energy providers (BP, Shell, Texaco), fuel cell companies (Ballard Power Systems, International Fuel Cells, and XCELLSiS), and government agencies (the California Air Resources Board, California Energy Commission, U.S. Department of Energy, U.S. Department of Transportation, and the South Coast Air Quality Management District). The team also includes Associate Partners who assist with specific areas of expertise to help meet the Partnership's goals: hydrogen gas suppliers (Air Products and Chemicals, Inc. and Praxair); a methanol fuel supplier (Methanex); hydrogen fueling station developers (Hydrogen Burner Technologies, Pacific Gas and Electric Co., Proton Energy Systems, Inc. and Stuart Energy); and bus transit companies (AC Transit and SunLine Transit Agency).
Proton Energy Systems
Proton Energy Systems, Inc. (www.protonenergy.com) designs, develops and manufactures Proton Exchange Membrane, or PEM, electrochemical products that it employs in hydrogen generating devices and in regenerative fuel cell systems that function as power generating and energy storage devices. Proton's HOGEN(R) and FuelGen(TM) hydrogen generators produce hydrogen from electricity and water in a clean and efficient process using its proprietary PEM technology. Proton is currently manufacturing and delivering late stage development models of its HOGEN hydrogen generators to customers for use in commercial applications, and is currently developing FuelGen hydrogen fueling systems for transportation applications. Proton's UNIGEN(R) regenerative fuel cell systems, which it is currently developing, will combine Proton's hydrogen generation technology with a fuel cell power generator to create an energy device that is able to produce and store the hydrogen fuel it can later use to generate electricity.
This press release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Statements contained herein that are not statements of historical fact may be deemed to be forward-looking information. Without limiting the foregoing, words such as "anticipates," "believes," "could," "estimate," "expect," "intend," "may," "might," "should," "will," and "would" and other forms of these words or similar words are intended to identify forward-looking information. You should read these statements carefully, because Proton's actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors. Factors that could cause results to differ materially from those contained in Proton's forward-looking statements include, but are not limited to, our failure to complete development of our products, failure of our products to achieve commercial acceptance, our inability to expand our production facilities, manufacture our products at commercially acceptable costs or establish distribution relationships, the impact of competitive products and other factors detailed in our Quarterly Report on Form 10-Q filed with the SEC on November 13, 2000.
Proton, HOGEN, FuelGen and UNIGEN are trademarks or registered trademarks of Proton Energy Systems Inc.