GVLT LIST stock news.
GreenVolt Power to Unveil First Commercial Fuel Cell Deriving Electrical
Energy From Metal, Water, Salt and Air
Product Suitable for Emergency Power Supply Requirements
ORILLIA, Ontario--(BUSINESS WIRE)--March 15, 2001--GreenVolt Power Corp. (OTCBB:GVLT - news) today announced the introduction of a portable fuel
cell that utilizes an electrolyte composed of water and table salt to produce up to 10 amperes of current at 13.5 volts DC for 50 hours on a single set of replaceable
anodes.
The lightweight unit, weighing less than five pounds, is self- contained and designed to operate without an external fuel supply source by utilizing energy contained in
its lightweight metal anodes. The cathodes are constructed of a proprietary catalyzed carbon membrane.
``The introduction of this patented innovative product, with an expected selling price of $120, represents a significant milestone for GreenVolt and is a major
breakthrough in fuel cell technology,'' said Thomas Faul, chief executive officer of GreenVolt Power.
The product is compact, measuring 5 inches wide, 6.25 inches high and 13.5 inches long, and will offer a practical, efficient, portable and ecologically neutral source
of electric power.
``The total energy output is comparable to a typical automobile battery, but is one-tenth the weight, easily portable and particularly appropriate for emergency
automotive applications or as a power source to campers and boaters. The output voltage has been designed to automobile standards and allows owners to take
advantage of numerous automotive accessories such as lights, fans and AC inverters,'' Faul said.
The company has initiated marketing efforts for the MP-135 fuel cell unit and is now accepting orders. GreenVolt also noted that the company is on schedule in its
efforts to develop and commercially introduce a portable 1.3 to 1.5 kilowatt fuel cell unit in the third quarter of 2001. This product is designed to provide an
uninterrupted power supply to users that cannot tolerate a disruption in electric grid power.
Background
Fuel cells are electrochemical devices that enable the chemical energy of fuels to be converted directly into electricity, thereby avoiding the fundamental loss of
efficiency and emission of air pollutants associated with traditional power sources.
Based upon a concept first demonstrated in 1839 by William R. Grove, a British scientist who discovered that the electrochemical union of hydrogen and oxygen
generated electricity, NASA continues to use these two chemical elements in an alkaline fuel cell power source that began with Project Gemini in 1965.
Technically speaking, a fuel cell is an electrochemical device that combines oxygen from the air and hydrogen to produce electricity. Like conventional batteries or
electrochemical cells, fuel cells generate electricity from reduction/oxidation reactions at the electrodes of the cells. They produce electricity as long as hydrogen and
air are supplied.
About the Company
GreenVolt Power, a development-stage company, is initially focused on the commercialization of alternative, efficient and affordable sources of energy through the
utilization of unique frostproof and emission-free modular alkaline fuel cell (``AFC'') systems and products, with a future commitment also to explore other alternative
energy sources.
An abundant, renewable power source, the AFC is designed to produce direct current electric power for use in stationary and portable power applications without
pollution. For additional information, visit the company's Web site at www.greenvolt.com.
This news release contains forward-looking statements relating to future results of the company as defined in the Private Securities Litigation Reform Act of 1995.
Actual results may differ materially as a result of certain risks and uncertainties. These risks and uncertainties include but are not limited to: the successful
commercialization of its alternative fuel cell technology; its ability to acquire and develop both new and existing forms of alternative energy technology; market
acceptance and demand; pricing pressures and other competitive factors, as well as other risks and uncertainties, including but not limited to those detailed from time
to time in the company's Securities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and the company
undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.
Contact:
Bel-Air Group Inc., Beverly Hills, Calif.
Philip Fox, 310/273-3220
or
PondelWilkinson MS&L, Los Angeles
Gary Maier, 310/207-9300 |
