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Technology Stocks : Distributed Energy Systems Corp. (DESC)

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To: Rutgers who wrote (13)1/13/2005 4:05:10 PM
From: Rutgers  Read Replies (1) of 122
 
DESC Receives University of Nevada, Las Vegas Research Foundation Phase II Contract Award for Hydrogen Filling Station

biz.yahoo.com

WALLINGFORD, Conn., Jan. 13 /PRNewswire-FirstCall/ -- Proton Energy Systems, Inc., a subsidiary of Distributed Energy Systems Corp. (Nasdaq: DESC - News) and a leader in hydrogen generation technology and products, announced today a contract award valued at nearly $1.2 million with the University of Nevada, Las Vegas Research Foundation, or UNLVRF. This is a follow-on to the Phase I contract under which Proton and the UNLVRF team are developing a hydrogen filling station capable of operating on solar power for installation in Las Vegas, Nevada.

The project, funded by the U.S. Department of Energy, will help to further the goal of a future hydrogen economy. U.S. Senator Harry Reid supports this project and others in Nevada. "We need to continue to pursue projects that will lead us to energy independence and hydrogen is the clean fuel that can make that happen. Utilizing solar energy to produce hydrogen reduces the need to utilize fossil fuels in hydrogen production. This is where we want to be in the future," said Senator Reid.

The goal of Phase II is to produce hydrogen at higher pressures using Proton Exchange Membrane, or PEM, water electrolysis technology. The project will also address the challenges presented with integrating renewable energy sources with water electrolysis. Proton will design, build and test the higher-pressure hydrogen generator using its patented HIPRESS(TM) cell stack module. Proton will modify the Phase I filling station to accommodate the high-pressure hydrogen generator. The project, valued at $1.2 million after Proton cost share, is expected to be complete by December 2005.

According to Proton Energy's Sr. Vice President Rob Friedland, "This Phase II effort represents an important element along the development pathway to higher pressure electrolysis for fueling. We are delighted to remain teamed with UNLVRF to continue our pursuits towards the renewable fueling vision. We also express our appreciation to Senator Harry Reid for his continued support in advancing the hydrogen economy."

This contract is helping to validate the modular fueling station design and the results to date from this project have been very encouraging. Phase II of this U.S. Department of Energy (DOE) sponsored grant for high-pressure PEM electrolysis technology is intended to promote more reliable, cost- effective hydrogen fueling products in the future.

Tom Williams, Executive Director of UNLVRF stated, "We are proud to work with such knowledgeable professionals in the field of hydrogen production. Our researchers and students are fortunate to have such valuable resources at their disposal."
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