Here's a little news on the competition, CORPORATE UPDATE -- SEPTEMBER 1998
DCH Chief Scientist Speaks at 10th Annual WMC Strategic Energy Conference
Dr. Mark A. Daugherty, Chief Scientist for DCH Technology, spoke at the 10th
Annual WMC Strategic Energy Conference in Madison, Wisconsin on September
23, 1998. His presentation was titled, Viability and Industrial Applications
of Fuel Cells.
The slides from his presentation can be viewed on the DCH Technology website
at: dch-technology.com
TJ/H2b Analytical Services Uses DCH Equipment for Power Transformers
DCH Technology and TJ/H2b Analytical Services signed an agreement to use the
Robust Hydrogen Sensor to monitor power transformers. This new system will
provide a very affordable solution to a traditionally expensive problem.
Certain levels of hydrogen in transformer cooling oil can be indicative of
imminent failure. TJ/H2b will design and market a product utilizing the DCH
sensor to provide accurate, low cost, in-situ monitoring of large,
high-voltage transformers.
This market has been estimated initially at over $100 million in the United
States alone.
TJ/H2b, with facilities across the United States, is a full service
analytical testing firm specializing in diagnostic evaluation of electrical
equipment. The firm provides its services to electric utilities, industrial
power consumers, electrical service companies and manufacturers of
electrical equipment.
DCH to Instrument Innovative Hydrogen Production Process
CryoFuel Systems, Inc. of Redmond, Washington has specified DCH monitoring
equipment and control electronics for its electron-arc hydrogen production
system being co-developed with Idaho National Engineering and Environmental
Laboratory. Hydrogen production monitoring and safety is a market which is
expanding at several times the rate of the electric utility marketplace.
Financial Audit Completed; Form 10 to be Submitted
The first step toward becoming a reporting company with the SEC was
completed this month by DCH Technology. The 1997 financial statement audit
was completed by the accounting firm Lucas, Horsfall, Murphy and Pindroh in
Pasadena, California. After the third quarter (September 30) financial
statements become available, the Form 10 documents will be submitted to the
SEC by DCH's legal counsel, Foley & Lardner, to the SEC.
The Securities and Exchange Act requires a public company to file certain
periodic reports, unless the company does not meet certain size
requirements. In these cases, the reporting obligation is suspended.
DCH decided to voluntarily become a "reporting" company, at its own expense,
even though it is under no legal obligation to do so. The company has chosen
this route so that its current and potential shareholders will be able to
obtain reports from the SEC on the company's operations, its financial
condition, its competitive position, its officers, directors and certain
major shareholders.
In addition to providing a measure of information to its shareholders, this
will also allow several brokerage firms to buy and sell DCH stock (many
firms have internal policies which do not allow trading of non-reporting
companies).
DCH to be Listed in S&P's Corporation Records
Since 1917, Standard & Poor's has published Corporation Records. This
document is a resource used by investors and brokers alike to obtain
specific information about public companies, including subsidiaries,
property information, backlog, principal business, capitalization, stock
data, earnings and financial data. Including print subscriptions and
electronic distribution, the circulation of Corporation Records is over
1,110,000 (including brokers, corporations and libraries).
DCH Technology filed with Standard & Poor's Corporation Records. The company
will be listed, along with the data listed above, as soon as S&P has
verified the accuracy of DCH's submissions to the publication. The data
listed in the publication will also be posted in S&P's website.
In addition, DCH will be displayed in S&P's Stock Guide Database (electronic
database on over 9,000 companies, with over 47 data items on each stock
listed) and Marketscope (an online, real-time filtered news and advisory
service, providing financial statistics and text on over 8,600 companies).
DCH will notify shareholders when the listing is completed.
1999 US Hydrogen Conference will Feature DCH Products
DCH Technology will feature its Robust Hydrogen Sensor and PEM Fuel Cell at
the 10th Annual U.S. Hydrogen Meeting of the National Hydrogen Association.
This will be the fourth year in a row that DCH has supported the annual meeting.
This year's theme will be: Hydrogen: Setting the Standard for a Global
Energy System. The meeting will take place at the Sheraton Premier Hotel at
Tyson's Corner in Vienna, Virginia on April 7 - 9, 1999.
J&H Marsh & McLennan to Participate in Maritime Hydrogen Technology
Development Group (MHTDG)
The Global Marine & Energy Group of J&H Marsh & McLennan informed DCH that
it will participate in the MHTDG. This company has extensive resources in
the marine and energy insurance brokerage industry and is ideally suited to
act as insurance broker and risk management consultant to the group.
This division of J&H Marsh & McLennan has annual placements of nearly $2.5
billion in marine and energy premiums; as such, their knowledge of and
influence with virtually every major commercial marine and energy market in
the world is unparalleled.
UPDATE -- SUMMARY OF DCH PRODUCTS AND TECHNOLOGIES
Robust Hydrogen Sensor Technology -- Products based on the Robust Hydrogen
Sensor technology licensed from Sandia National Laboratories are now in
production and shipping to customers from the DCH facility in Valencia,
California. Currently, the company has 28 contracts in-house for this product.
Thick Film Hydrogen Sensor Technology -- In development under a Cooperative
Research and Development Agreement with the US Department of Energy, and
licensed from Oak Ridge National Laboratory, the Thick Film Hydrogen Sensor
technology is expected to be introduced to the market in 1999.
PEM Fuel Cell Technology -- DCH Technology's Chief Scientist, Dr. Mark A.
Daugherty, is working closely with Los Alamos National Laboratory on this
technology. A "productized" (i.e., economically viable prototype)
demonstrator showcased at the US National Hydrogen Meeting in April 1999.
___________________________
David Walker, DCH Technology, Inc.
Tel: (805) 775-8120
Fax: (805) 257-9398
E-mail: davew@dch-technology.com
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