Fuel Cell Joint Venture for Transportation

December 13, 2002 [SolarAccess.com] Astris Energi Inc., developers of alkaline fuel cell technology, announced the signing of a Memorandum of Agreement with CareAction, Inc., based in the Montreal suburb of Laval, Quebec, under which Astris will license its technology and CareAction will provide financing and management for a US$15 million technology and consumer product development program, centered on the transportation sector. The objective of this alliance is to develop a range of converted vans, passenger cars, as well as electric and hydrogen fuel cell low-speed vehicles, primarily for the burgeoning, under-served markets represented by seniors and disabled persons.
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