Tuesday March 3, 12:49 pm Eastern Time
Company Press Release
SOURCE: Electric Fuel Corporation
Electric Fuel Corporation Awarded Defense Contract
NEW YORK, March 3 /PRNewswire/ -- Electric Fuel Corporation (Nasdaq: EFCX - news) announced today that it has been awarded a contract from Israel's Ministry of Defense to develop an advanced zinc-air battery for a propulsion system. The first phase of the contract runs through the end of 1998.
The feasibility demonstration, pre-development contract will be overseen by the Company's new Defense and Safety Division and will include creating a prototype and demonstration project. The agreement marks the Company's third zinc-air defense contract since it began development of high-energy, high-power zinc-air products for defense applications.
''Once again we have the opportunity to demonstrate the versatility of our technology for practical, leading-edge applications,'' said Yehuda Harats, President and CEO of Electric Fuel.
Last month, Electric Fuel announced the creation of three parallel business units, Electric Vehicle, Consumer Electronics, and Defense and Safety Products, to expand the applications of its zinc-air battery technology.
Other projects underway within the Defense and Safety Products Division include a development contract with the U.S. Army's Communication-Electronics Command (CECOM) to develop an advanced portable zinc-air battery. The Company is also involved in a development program with STN Atlas Elektronic GmbH, a major German defense and marine industry contractor, for the development of a primary, high-power, zinc-oxygen battery for torpedoes.
Electric Fuel Corporation, with corporate offices in New York City and manufacturing and R&D facilities in Jerusalem, Israel and in Auburn, Alabama, is pioneering the use of zinc-air battery technology for electric vehicle, consumer electronic products, and industrial applications.
SOURCE: Electric Fuel Corporation
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