GVLT List stock news:
GreenVolt Power to Present at Fuel Cell Conference in San Antonio
Commercial Fuel Cell Deriving Electrical Energy From Metal, Water, Salt and Air to be Demonstrated
ORILLIA, Ontario--(BUSINESS WIRE)--April 2, 2001--GreenVolt Power Corp. (OTCBB:GVLT - news) today said that it will make a presentation at a fuel cell
conference sponsored by a technical research organization to be held in San Antonio, Texas at the Omni Hotel tomorrow, April 3, 2001, at 10:30 mountain time.
As part of its presentation, GreenVolt will demonstrate the company's new PM-60 portable fuel cell that utilizes an electrolyte comprised of water and table salt to
produce up to two amperes of current at six volts DC for up to 50 hours powering a dual purpose lamp on a single set of replaceable anodes.
The lightweight unit, weighing less than five pounds and priced at approximately $85, 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 company recently
initiated marketing efforts for three sizes of such fuel cell units and is now accepting orders.
``Our patented innovative product represents a significant milestone for the company and is a major breakthrough in fuel cell technology. We look forward to
demonstrating the product, which is well-suited for emergency power supply requirements, at the conference tomorrow,'' said Thomas Faul, chief executive officer of
GreenVolt 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 Corp., a development stage company, is initially focused on the commercialization of alternative, efficient and affordable sources of energy through
the utilization of unique frost-proof 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 M. Fox, 310/273-3220
or
PondelWilkinson MS&L, Los Angeles
Gary S. Maier, 310/207-9300 |
