DCHT news
PALM BEACH, Fla.--(BUSINESS WIRE)--Aug. 3, 1999-- RAM Capital Management of Palm Beach Florida, has initiated an investment opinion on DCH Technology, Inc., (OTC BB:DCHT - news), calling them a significantly undervalued special situation. DCH is a manufacturer of hydrogen sensors, and PEM fuel cells.
Both technologies are licensed from US Department of Energy National Laboratories.
DCH Chief Scientist, Dr Mark Daugherty, joined DCH in June 1998, directly from the Los Alamos National Laboratory to commercialize the patented circular fuel cell stack. July 19, 1999, the DCH fuel cell was chosen by NorthWest Power Systems, (NYSE: IDA - news), as part of a $3.5 million dollar order from Bonneville Power Administration.
This is a highly significant breakthrough for DCH, as it officially puts them in the residential fuel cell arena. The overall fuel cell industry is currently estimated at $900 million and rapidly growing. DCH has positioned itself to supply both sensors and fuel cells to this rapidly growing industry.
We believe that this and other events in the last 4 months, including the expansion of DCH's production facilities in both California and Wisconsin, when properly factored in, are not being reflected in the current share price.
With fuel cell industry peers trading with market caps ranging from $160 million to over $2 Billion, we feel DCHT at only $9 million market cap, is significantly undervalued which is the basis for our opinion. Also of importance is that DCH has a steadily growing industrial equipment business serving the $100 million annual
hydrogen sensor market.
With the filing of their Form 10 expected any day, we believe sustainable appreciation in the stock will be warranted as hydrogen technology becomes more widely accepted, and DCH's role in several important demonstrations is truly understood.
These are the events of the last 4 months; May 12, 1999, DCH was selected by the US Dept of Energy to lead a team of 22 companies, including AlliedSignal, Pacific Marine and the American Bureau of Shipping to implement hydrogen energy in the maritime sector.
March 26, DCH formed a strategic alliance with Xybernaut Corp. (Nasdaq:XYBR - news), to integrate and deploy the wearable computer, fitted with DCH hydrogen sensors, targeting the rapidly growing $2 Billion gas detection industry.
March 4, DCH formed a strategic alliance with AlliedSignal, (NYSE:ALD, NYSE:HON). AlliedSignal will be developing aerospace systems integrating DCH technology for missions ranging from active corrosion control and nuclear safety to the development of hydrogen powered vessels.
Disclaimer
RAM Capital Management is not a Registered Investment Advisor or a Broker/Dealer. RAM has prepared this report independently of DCH and from sources believed to be factual, but does not guarantee its accuracy or completeness. This is not an offer to sell or the solicitation of an offer to buy. These forward-looking
statements are based on current expectations and differences can be expected. Any opinions expressed are subject to change without further notice, and may not necessarily be reprinted in future publications or elsewhere. The reader assumes responsibility for any loss arising from any use of this report or its contents. Pursuant to Section 17(b) of the 1933 Act, RAM advises the readers of this electronic document that it has received a fee of 100,000 free-trading common shares and
$5,000 on Feb 7, 1999, and Dec. 1998 for services, and expects to receive additional compensation in the future. RAM may profit in the event the shares of DCH increase in value. These positions may be liquidated from time to time even after RAM, has made positive comments on the Company.
Contact:
RAM Capital Management, Boca Raton
Steven Oshinsky, General Manager, 561/338-3390
www.RAMCapitalManagement.com
MrOshinsky@aol.com
Or
DCH Investor Relations, Valencia, Calif.
661-775-8120, ext. 11
DCHTinvest@aol.com
dcht.com |
