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Palcan Fuel Cells Launches Production With Initial Orders For Its Fuel Cell Stacks
Palcan Fuel Cells Launches Production With Initial Orders For Its Fuel Cell Stacks
Published 08-14-03
Submitted by Palcan Fuel Cells Ltd.
Voller Energy
The order forward books production and ordered 100 units of Palcan's 120-watt proton exchange membrane fuel cell stacks for delivery over the next twelve months. This will effect the initial deployment of Voller's Portapak VE100, a portable generating unit and battery charger. The Portapak VE100 is targeted towards the mobile customer that has an immediate need for independent power to recharge (on the fly) either a laptop computer, cellular telephone, power tool or other similar device. The Portapak VE100 is capable of providing electricity in remote off-grid locations to power up lighting, cooking and personal communications devices leaving minimal thermal footprint.
Voller Energy (www.voller-energy.com) is an integrator of portable fuel cell systems for industrial and military use. The company is privately held and is located in the UK. Distributors supply Voller Energy products in Germany, Italy and the United States.
Nagase & Co., Ltd.
The Company is also pleased to report initial sales of US$55,000 from Nagase Corporation Ltd resulting from a recent marketing agreement signed between the two companies for the promotion, marketing and sales of Palcan's products in Japan. This first sale through Nagase follows our recent signing of a joint venture distribution agreement for Japan. "We are pleased with the level of interest Nagase Corporation Ltd. has generated to date, in light of their short tenure, and look forward to a solid relationship in the future," states Dr. Shen. Dr. Shen will be traveling to Nagase headquarters in Tokyo, Japan the week of August 11, 2003 to further refine marketing strategies.
Nagase Group (www.nagase.co.jp/english/) provides its customers with trading, marketing, R&D, manufacturing and processing functions in four key business areas: Chemicals, Plastics, Electronics and Health Care. Founded in 1832, the international conglomerate has annual revenues in excess of US$4-billion.
About Palcan
The Company is a leading developer and manufacturer of low output 100 watt to 5 kilowatt proton exchange membrane (PEM) fuel cells and metal hydride hydrogen storage products. The Company's proprietary and patent pending technologies form the core of the PalPacTM Power Products, a unique and integrated fuel cell power system. The Company's PalPacTM fuel cell systems are a reliable and clean environmental alternative to replace batteries and small internal combustion engines in global consumer products such as electric 2 and 3 wheeled scooters, NEV's such as closed circuit vehicles for airports, amusement parks, golf courses and airports, bicycles, wheelchairs, stationary, marine, and portable power products. The Company's manufacturing, research and development facilities are located in Burnaby, British Columbia.
"John Shen"
John Shen, Ph.D.
President & CEO
Certain matters discussed in this press release may contain forward-looking statements that may involve risk and uncertainties. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including but not limited to; product development delays, the ability to attract and retain business partners, competition from other fuel cell manufacturers, competition from existing power technologies, and the ability to provide the capital required for product development, operations and marketing. Investors are encouraged to review the Company's filings on SEDAR at www.sedar.com.
The TSX Venture Exchange has neither reviewed nor approved of the contents of this new release
