HydroGen Corporation Achieves Key Milestones On Path To Commercial Launch of PAFC System.Two milestones include completion of its Versailles, PA pressurized pres·sur·ize tr.v. pres·sur·ized, pres·sur·iz·ing, pres·sur·iz·es 1. To maintain normal air pressure in (an enclosure, as an aircraft or submarine). 2. test facility and the successful operation of 2.5-kilowatt PAFC PAFC Phosphoric Acid Fuel Cells PAFC Plymouth Argyle Football Club (UK) PAFC Port Adelaide Football Club fuel cell stack at full rated capacity No additional technological breakthroughs are necessary in order for HydroGen to deliver full-scale commercial demonstration plants during 2007 CLEVELAND -- HydroGen Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : HYDG), a manufacturer of multi-megawatt air-cooled phosphoric acid fuel cell Phosphoric acid fuel cells (PAFC) are a type of fuel cell that uses liquid phosphoric acid as an electrolyte. The electrodes are made of carbon paper coated with a finely-dispersed platinum catalyst, which make them expensive to manufacture. (PAFC) systems, today announced the completion of its 2.5-kilowatt PAFC test facility and successful operation of a 2.5-kilowatt fuel cell stack at full-rated capacity. This achievement, reached in less than one week after the commissioning of the test facility, replicates the technology originally developed by Westinghouse Corporation and the Department of Energy (DOE) at a cost of approximately $150 million, and which is now being brought to market by HydroGen. "The completion of this test facility and operation of this fuel cell stack represent two key operational milestones in the commercialization of our PAFC technology," said Dr. Leo Leo, in astronomy Leo [Lat.,=the lion], northern constellation lying S of Ursa Major and on the ecliptic (apparent path of the sun through the heavens) between Cancer and Virgo; it is one of the constellations of the zodiac. Blomen, HydroGen Corporation's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "This demonstration supports both our ongoing manufacturing and plant construction efforts and we are pleased with the operation and performance results." The recently commissioned, pressurized test facility duplicates the operating conditions and control methods of the company's full-scale, 400-kilowatt demonstration and test plants currently under construction, as well as planned multi-megawatt systems based on standard 2 megawatt meg·a·watt n. Abbr. MW One million watts. meg  a·watt Power Islands. Reaching this key milestone demonstrates that no additional technological breakthroughs are necessary in order for HydroGen to deliver full-scale commercial demonstration plants during 2007. HydroGen targets its air-cooled PAFC systems toward applications where under-utilized hydrogen is available to quickly become cost-competitive with grid-supplied electricity. The Company expects to reach one of its next significant milestones, the installation and operation of a 400-kW full-scale commercial demonstration power plant at ASHTA Chemicals Inc's chlor-alkali manufacturing plant in Ashtabula, Ohio
Ashtabula is a city in Ashtabula County, Ohio, United States, and the center of the Ashtabula Micropolitan Statistical Area (as defined by the United States Census Bureau in 2003). , during 2007. To support this project, HydroGen is utilizing a $1,250,000 award that the State of Ohio Department of Development previously provided to the Company. Plant Tour Webcast: On December 12th, management recapped the corporate highlights for 2006 and discussed its strategies for the coming year. To listen to a replay of this webcast, please go to www.hydrogenllc.com to register, download and install any necessary software. The replay of the event will be available until December 31, 2006. For those wishing to access the replay by telephone, please dial 719-457-0820 or 888-203-1112 (Replay Passcode: 4011351); the replay will be available from 5:00 PM ET, December 12th through 11:59 PM ET Tuesday, December 19th. About HydroGen Corporation HydroGen Corporation is a manufacturer of multi-megawatt fuel cell systems utilizing its proprietary 400-kilowatt phosphoric acid fuel cell (PAFC) technology. Utilizing fuel cell technology originally developed by Westinghouse Corporation, HydroGen Corporation offers a multi-megawatt, zero-emission power generation product that supports the growth of industrial distributed energy. The company targets market applications where hydrogen is currently available and other drivers favoring the adoption of fuel cells are present. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to 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. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding HydroGen's anticipated economically competitive fuel cell systems. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as fluctuations in demand for HydroGen's products, HydroGen's ability to maintain strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of HydroGen's liquidity and financial strength to support its growth, and other information that may be detailed from time to time in HydroGen's filings with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. HydroGen undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion