H Power Installs First-Ever Fuel Cell-Based, Residential Electric Cogeneration Unit At Major Utility.Business Editors CLIFTON, N.J.--(BUSINESS WIRE)--Nov. 13, 2000 Installation at Canada's Hydro-Quebec's LTEE LTEE Limitee (French: Limited Company) R&D Facility Is World's First; Can Provide All Electricity and Hot Water Needs For An Average Household H. Frank Gibbard, chief executive officer of H Power Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HPOW), announced that the company has completed the installation and start up of a prototype propane, fuel cell-based, residential electric cogeneration unit for testing at the LTEE laboratory in Shawinigan, Quebec Shawinigan is a city located on the Saint-Maurice River in the Mauricie area in Quebec, Canada. It has a population of approximately 51,904 people (2006). There is a large hydroelectric complex at Shawinigan Falls nearby. , an electricity end-use R&D division of Hydro-Quebec, Canada's largest electric utility. This is the first propane-powered fuel cell cogeneration unit ever installed at an electric utility. H. Frank Gibbard said, "This installation is clearly a milestone for H Power's fuel cell technology, representing another giant step toward commercialization. Hydro-Quebec will evaluate our residential cogeneration unit, which can supply all the electricity and hot water needs for an average household. "Fuel cell cogenerators," he added, "are an environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] , safe, efficient and highly reliable source of electricity. Our systems operate without the usual infrastructure that all utilities use to distribute electricity. Being able to supply an uninterrupted flow of electricity, without power lines and free from outages caused by storms and other acts of nature is a big plus for utilities, especially when serving customers in rural and remote locations. Hydro-Quebec is leading the industry with its interest in fuel cell cogenerators." H Power is also in ongoing discussions with several major electric utilities to explore the use of fuels cells as an alternative energy source. The company has already sold fuel cell systems for stationary and portable applications to the U.S. Government, state agencies, and numerous domestic and multinational corporations
About Hydro-Quebec Hydro-Quebec is a crown corporation that provides multi-energy residential, commercial and institutional services. Hydro-Quebec is a world leader in generating hydroelectric energy. Its transmission network is the most extensive in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and includes some 32,000 kilometers of lines. Hydro-Quebec's power stations, dams and substations are located in a territory some 1,500,000 square kilometers in area. Through its subsidiary, Capitech, Inc., Hydro- Quebec has invested in H Power and internationally in various investment and construction projects and conducted technical assistance projects in some eighty countries. About H Power Corp. H Power Corp., is a leading fuel cell development company and one of the first providers to complete commercial sales of a proton-exchange membrane (PEM (Privacy Enhanced Mail) A standard for secure e-mail on the Internet. It supports encryption, digital signatures and digital certificates as well as both private and public key methods. Not widely used, work on PEM later evolved into S/MIME. See MIME. ) fuel cell system. PEM fuel cells generate electricity efficiently and cleanly from the electrochemical electrochemical /elec·tro·chem·i·cal/ (-kem´i-k'l) pertaining to interaction or interconversion of chemical and electrical energies. e·lec·tro·chem·i·cal adj. reaction of hydrogen and oxygen. Hydrogen can be stored as a compressed gas or, at lower pressures in metal hydride hydride Any of a class of compounds in which hydrogen is combined with another element. There are three basic types of hydrides: saline, metallic, and covalent. Saline hydrides, such as sodium hydride (NaH) and calcium hydride (CaH2 powders, or is derived from conventional fuels such as natural gas or propane; oxygen is drawn from the air. H Power's fuel cells are designed to provide electricity for a wide range of stationary, portable and mobile applications including residential cogeneration products for rural, remote homes, and backup power An additional power source that can be used in the event of power failure. See UPS and backup.  A Half Minute of Backup This roomful of lead acid batteries stands ready to drain itself entirely in less than a minute. units for mobile applications. For additional information, please visit our website at www.hpower.com. Certain expectations and projections regarding the future performance of H Power discussed in this news release are forward-looking and are made under the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These expectations are based on currently available competitive, financial and economic data along with the Company's operating plans and are subject to future events and uncertainties. Management cautions the reader that the following factors, amongst others, may cause H Power's plans to differ or results to vary from those expected, including the impact of competition, pricing, market demand and marketplace acceptance, and other risks set forth from time to time in H Power's filings with the Securities and Exchange Commission, including, but not limited to the risks set forth in H Power's Registration Statement on Form S-1. H Power undertakes no obligation to publicly release the results of any revisions to forward-looking statements, which may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The events highlighted herein should not be assumed to be items that could affect the future performance of the Company. |
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