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Proton Energy Systems Announces Sale of Commercial Products.

ROCKY HILL, Conn.--(BUSINESS WIRE)--Nov. 18, 1998--Proton Energy Systems, Inc., Rocky Hill, has entered into an agreement with Idaho Power, a wholly owned subsidiary of IDACORP (NYSE:IDA), for the sale of an advanced Proton Exchange Membrane (PEM) hydrogen generator system. This large-scale system utilizes PEM technology to produce high purity and high-pressure hydrogen and oxygen from water and electricity. Delivery of the unit is scheduled for late 1998 or early 1999.

PROTON has several demonstration units in service; the agreement with Idaho Power represents one of the company's first commercial sales. PROTON systems have been in development for nearly two years, and have undergone extensive successful testing. Idaho Power intends to use the system to evaluate its suitability for a number of commercial and energy-related applications.

Walter (Chip) Schroeder, PROTON's president stated that "this important step with Idaho Power confirms the convergence between PEM technology and the electric power marketplace. Idaho Power is a leader in its industry, with very low cost hydroelectric power and a strong interest in renewable power systems. PROTON's hardware offers the means to convert electricity into chemical energy (as hydrogen). The hydrogen can then be stored and used either as a commodity chemical or as a fuel to regenerate power. In the latter mode, our system offers a solution to the problem of how to make electricity at night from a solar power system."

PROTON's system, labeled a HOGEN (for Hydrogen/Oxygen GENerator), will make 300 standard cubic feet per hour of hydrogen utilizing 50 kW of power and about two gallons of water per hour.

PROTON Energy Systems Inc. located in Rocky Hill, CT, is focused on commercializing PEM technology. For the past three decades, PEM technology has been widely deployed in a variety of military and aerospace life-support functions. Founded in 1996, PROTON has raised nearly $ 8 million of venture capital and now employs 21 people.
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Publication:Business Wire
Geographic Code:9MALA
Date:Nov 18, 1998
Previous Article:Essef Reports Record Financial Results for Fiscal 1998 and Stock Buyback.
Next Article:Proton Energy Systems Awarded NASA Advanced PEM Fuel Cell Contract.

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