GVLT news is awesome:
(BSNS WIRE) Greenvolt Power's Unique Reverse Fuel Cell Makes Hydrogen on th
Greenvolt Power's Unique Reverse Fuel Cell Makes Hydrogen on the Spot -- Fits
in with Bush-Cheney Energy Plan
Business Editors
ORILLIA, Ontario--(BUSINESS WIRE)--May 22, 2001--
Refcell(TM) Uses Less Energy to Produce Hydrogen and Oxygen
From Water and Alleviates Need for Costly, Inefficient
Transport of Hydrogen Gas
Greenvolt Power Corp (OTCBB:GVLT), a development stage company
specializing in alternative energy sources, today announced its new
Refcell(TM), a reverse fuel cell that can be energized by wind or
photovoltaic power sources and is capable of splitting water into its
component gasses (hydrogen and oxygen) for multiple, cross-industry
needs.
Whereas fuel cells catalytically combine hydrogen and oxygen into
water to generate electricity, the Refcell(TM) separates the two
gasses, essentially releasing them for other purposes. The advent of
the Refcell(TM), which can also supply the hydrogen needed to fuel
other fuel cells, has cross-industry implications and answers the fuel
needs of any company that needs hydrogen and oxygen.
The Greenvolt announcement is serendipitous in light of President
Bush's recent energy plan, which, though controversial, points to a
near-future need for a "hydrogen economy". The plan also mentions
possible use of hydrogen in furnaces, as well as fuel for all major
modes of transport. In addition, the report suggests tax breaks for
buyers of fuel cell-powered and hybrid gas-electric vehicles.
"We're very pleased that the Bush government has recognized the
value of hydrogen as an ecologically convenient and efficient fuel,"
stated Thomas Faul, President and CEO of Greenvolt Power Corp, whose
new Refcell(TM) produces hydrogen from water, the earth's most
abundant natural resource, and alleviates the need for costly,
inefficient transport of liquid and/or highly compressed hydrogen.
Bush's attention to hydrogen, he continued, "is a great boon to
the whole question of reduction of carbon dioxide emissions and we are
very encouraged that the government is considering supporting such
activities."
As a result of the energy task force's recommendations, fuel cell
companies' stock has shown a sharp rise in the past few days. FuelCell
Energy (FCEL:Nasdaq) was up $5.41, or 6.3% to $90.69, while PlugPower
(PLUG:Nasdaq) jumped $4.32 or 14.8%, to $33.46. Ballard Power Systems
(BLDP:Nasdaq) was up 0.7% to $57.84 while H Power Corp. stock rose
$2.32 to $12.97, a 22% increase.
How Greenvolt Refcell(TM) Meets Energy Demand
Typically, hydrogen and oxygen are electrically separated from
water with water-alkali electrolyzer devices. The GVLT Refcell(TM)
requires 20% less electrical energy and features a system weight and
bulk that is 6 to 9 times smaller than equivalent devices. In addition
to considerable energy savings, the explosion-proof Refcell(TM) also
boasts long-term durability while lowering generating costs and
requiring substantially less in system capital. This is due in part to
the fact that water produced in the hydrogen and oxygen-driven fuel
cell is re-used by the Refcell(TM), and both gasses can be delivered
to storage pressure vessels at 80 to 3000 psi without the need for
compressors.
The Refcell(TM) is ecologically neutral, uses no alkali or
asbestos and requires only distilled water to produce 99.5% pure
hydrogen and oxygen.
"After studying a number of hydrogen -- and oxygen-producing
technologies, we believe we have settled on the best solution," stated
Faul. "It is less costly, and it is proven, compact, light,
competitively priced -- and it is available now. We now have a simple
and immediate 'fuel supply' for our Alkaline Fuel Cells as well as for
most other types of fuel cells."
Commercial Market Applications
The Refcell(TM) has broad applicability and can be used to provide
a high purity supply of oxygen for:
-- laboratory and basic research
-- medical and hospital applications
-- altitude chambers, space vehicles and submersibles (pre-compressed
oxygen)
Also useful as a sensor for hydrogen and other gasses, the
Refcell(TM) can supply hydrogen for:
-- technical uses and scientific research
-- production of ceramic components in electronics
-- fueling fuel cells
-- hydrogen welding and certain types of metallurgical processing
-- dividing hydrogen isotopes to remove deuterium and hyson out of
cooling circuits of nuclear reactors
Additional uses involving simultaneous supply of hydrogen and
oxygen include storage of surplus energy generated by PVA (solar
panels) and/or wind propeller-driven generators.
The Refcell(TM) comes in three different sizes: the Ref-25, which
can deliver up to 100 liters/hr. of hydrogen and up to 50 liters/hr.
of oxygen; the Ref-500, which will deliver up to 2500 liters/hr. of
hydrogen and up to 1250 liters/hr. of oxygen; and the Ref-1700, with
delivery capability of up to 100,000 liters/hr. of hydrogen and up to
50,000 liters/hr. of oxygen. Greenvolt Power Corp welcomes inquiries
via email: tlfaul@encode.com or telephone: 705-326-1117. Or send to:
71 Line 15 S. R.R.I., Orillia, Ontario L3V 6H1, Canada.
About Greenvolt Power Corp
Greenvolt Power Corp, a development stage company, focuses 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 eye on exploring other alternative energy sources such
as Solid Polymer fuel cells and Magnesium Air Water fuel cells.
An abundant, renewable power source, fuel cells are designed to
produce non-polluting, direct current electric power for use in
stationary and portable power applications. For additional
information, visit the company's website at www.greenvolt.com.
This press 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.
--30--jlm/in*
CONTACT: Promark Inc.
Ken Lowman, 215/923-8600
or
Greenvolt Power Corp.
Thomas Faul, 705/326-1117
Website: www.greenvolt.com
KEYWORD: INTERNATIONAL CANADA
INDUSTRY KEYWORD: ENERGY
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