Initial Product Targeting Uninterrupted Power Supply Market
ORILLIA, Ontario Dec. 4, 2000 — GreenVolt Power Corp. (OTCBB:GVLT) today announced that it has successfully completed basic testing of its 1.3-kilowatt alkaline fuel cell technology and expects to introduce a pre-production model at a number of trade shows beginning in April 2001. The portable 1.3-kilowatt alkaline fuel cell unit, which the company expects will be commercially available in the third quarter of 2001, is designed to provide an uninterrupted power supply to users that cannot tolerate a disruption in electric grid power. Its potential customer-base includes: hospitals, financial institutions, government facilities, data processing centers and individuals who desire an auxiliary power source in the event of an emergency or in remote location applications. Thomas Faul, president and CEO of GreenVolt Power, stated, “We are pleased with the spring of 2001 launch of our 1.3-kilowatt portable alkaline fuel cell module, and we will be the first to introduce an attractively priced alkaline fuel cell to the marketplace. The market for alternative stationary power requirements serving the residential and commercial sectors is clearly significant. “We look forward to commencing production in 2001, as well as future introductions of other innovative products that complement our fuel cells.” He noted that a pre-production model of a 5-kilowatt alkaline fuel cell unit is expected to be unveiled during the second half of 2001. “It will be a modular fuel cell unit that can be installed in multiples, supplying up to 350 kilowatts of energy,” Faul added.