Astris Energi and Alternate Energy have acquired the rights to a reportedly unique and low-cost technology for the production of hydrogen gas required for fuel cell operation.Mississauga, Ontario – August 7, 2003 [SolarAccess.com] The proposed joint venture plans to combine these fuel cell and hydrogen technologies to produce and sell complete stationary electric power systems for the vast household and business markets. Since 1983, Astris Energi has been developing alkaline fuel cell electric generators. They now have has three such power systems they say are fully tested and ready for commercialization. While most fuel cell companies are aiming for the eventual car-truck-bus market or large utility type generating stations, Astris has specialized in 1kW to 10 kW systems which have global market potential. The company also anticipates linking modules together in larger units for broader applications. The company’s development and manufacturing affiliate in the Czech Republic completed and delivered a 1 kW portable system for extensive testing by the Czech military, a 4 kW power unit capable of providing electricity, heat and hot water for individual homes, motor homes and boats, and a 2 kW fuel cell engine capable of powering golf cars, in-plant delivery vehicles and other small vehicles, airport ramps and retirement communities, each with a market running into the millions. The company is now demonstrating the world’s first fuel cell-powered golf cart. According to Jiri K. Nor, President and CEO of Astris Energi, the golf cart has been operating on power supplied by a two kW Astris alkaline fuel cell engines since early 2001. Astris decided to partner with or license major manufacturers in each field to realize the full potential of the available global markets for the technology. Astris reports that over the past two years, the company has yielded exceptional progress worldwide in alkaline fuel cell technology. Astris also claims that their stock should soon enjoy the substantial appreciation experienced by other fuel cell developers, none of which has three separate field-tested systems ready to “go commercial.” “The fuel cell industry has long awaited a cost effective method of extracting the high quality hydrogen gas required to run the fuel cell,” said Blaine Froats, Chairman of Alternative Energy Corporation. “The merging of a reliable alkaline fuel cell (Astris) with a low-cost supply of hydrogen (AEC) is expected to provide the market with an affordable fuel cell for the consumer. The prospective joint venture with Astris will place our two companies in the forefront of the industry.” The joint venture operation will begin in sixty days, following completion of hydrogen quality tests using the new AEC process.