ZeTek Power, Ltd. Announces Improved Fuel Cell
Technology At Lower Costs
NEW YORK--(BUSINESS WIRE)--July 13, 1999--ZeTek Power, Ltd. announced today
the development of a new power catalyst for fuel cells based on cobalt, which significantly
improves fuel cell technology while reducing their cost. Cobalt replaces platinum as a power catalyst, freeing fuel cells from the
high cost and limited availability of the precious metal. As a result, cobalt will allow unlimited production at a lower cost.
The catalyst, developed by university research departments in the U.S. and France and funded jointly by ZeTek Power, Ltd.
and the European Commission, is the first time a non-noble metal catalyst has been used as a principle power producer in fuel
cells, which is considered an important energy source for the next century.
Fuel cells offer zero emissions and provide electrical power generation across all forms of power needs from transport vehicles
to stationary energy generation and marine applications, among other uses.
Nicholas Abson, Chief Executive Officer of ZeTek Power, Ltd. said, ''This critical breakthrough means we can deliver
commercially realistic clean power to everything from vehicles to homes and businesses, from black cabs to Venice water taxis.
It is a marvelous breakthrough offering real hope for a clean environment at great savings.''
ZeTek Power, Ltd. through its subsidiary Zevco, developed the world's first fuel cell Taxi, a London Black Cab in July last
year and has since sold the first commercially purchased fuel cell powered vehicle, a three ton van, to the city of Westminster.
Further sales are underway to the Royal Mail, Marks and Spencer and other blue chip users.
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