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AMERICAN FLYWHEEL, HONEYWELL TO SHARE FLYWHEEL, SPACE TECHNOLOGIES; BUILD ELECTRIC CAR BATTERY IN TIME TO MEET 1998 STANDARDS

 BELLEVUE, Wash., March 10 /PRNewswire/ -- American Flywheel Systems (AFS) today announced agreement with Honeywell (NYSE: HON) to build the first AFS flywheel battery for electric cars, according to AFS President and Chief Executive Officer Edward W. Furia.
 Honeywell will provide AFS access to nearly $200 million of proprietary Honeywell space technology, according to Honeywell Chairman and Chief Executive Officer Michael Bonsignor. The program will be conducted at Honeywell's Satellite Systems Operation (SSO), Phoenix.
 Furia said the agreement calls for the first prototype systems within about two years, "more than enough time to allow integration into the 1998 models."
 The announcement comes at a time when U.S. automakers are suing to roll back requirements in some high-pollution areas which call for a percentage of all cars sold to be electric. The automakers claim that existing batteries provide inadequate range and performance to assure consumer acceptance. A U.S. Army-funded feasibility study concluded that AFS flywheel battery-driven cars will be capable of much greater range and performance.
 Furia said the advantages of flywheel power will make possible non- polluting, all-electric cars which will cost about the same to buy (in mass production) and much less per mile to drive than gasoline-powered cars.
 Other AFS Announcements
 -- Newly named to AFS' board of advisors are America's first secretary of energy and two-time presidential cabinet member, Dr. James Schlesinger and former chairman of the President's Council on Environmental Quality Michael Deland. They join AFS advisory board members four-time cabinet member Elliot Richardson, MIT professor and energy expert John Deutch and others.
 -- Named to handle funding and financial planning for AFS is Amsterdam Pacific Corp.(APC), the American investment banking affiliate of the $250-billion Dutch merchant banker ABN AMRO. APC managing director James Boettcher will serve on the board of advisors.
 -0- 3/10/93
 /CONTACT: Laurie Enerson of American Flywheel Systems, 206-454-1818/
 (HON)


CO: American Flywheel Systems; Honeywell Inc. ST: Washington; Arizona IN: AUT SU:

LM-SG -- SE001 -- 4751 03/10/93 06:00 EST
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Publication:PR Newswire
Date:Mar 10, 1993
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