Astris Energi, Czech Academy of Sciences Join to Advance Fuel Cell Technology.

Business Editors & Energy Writers

MISSISSAUGA, Ontario, Canada--(BUSINESS WIRE)--Nov. 2, 2001

Astris Energi Inc. (OTCBB:ASRNF), pioneering developers of alkaline fuel cell energy systems, today announced that its European subsidiary, Astris s.r.c., has entered into an important cooperative effort with the Academy of Sciences of the Czech Republic to enhance the advantages already evident in alkaline fuel cell technology.

The Czech Academy of Sciences has a long tradition in electrochemistry, said Jiri K. Nor, president of Astris. Its Institute of Physical Chemistry, better known as the Heyrovsky Institute, bears the name of a key figure in the world of 20th century physical chemistry.

The cooperative work will address the areas of electrode materials and catalyst deposition and stabilization which are of particular interest to Astris as well as the international fuel cell industry, Nor explained.

"Astris scientists and their colleagues at the Academy share the belief that Astris' technology of low-cost alkaline fuel cell electrodes can gain further advantage from new deposition methods and the use of polymers now in existence," he added.

While Astris scientists in the past few years have doubled the power density of its fuel cells, to the highest level in the industry, they believe this project will yield further enhancement of electrode performance parameters.

Astris will work closely with the Academy's Institute of Macromolecular Chemistry, which is world-renowned for its work in polymers and related areas, Nor said. The Institute was founded by Dr. Otto Wichterie, one of whose many inventions, soft contact lenses, are now used around the world.

"We welcome the opportunity to work with Astris. They are at the leading edge of fuel cell technology, and we love challenging projects," commented Dr. Miroslav Bleha, head of the Department of Polymeric Membranes and deputy director of the Institute.

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