TechSys Fuel Cells to China and South America

TechSys, Inc. has announced that Fuel Cell Companies, Inc., (FCCI), a private company based in Mahwah, New Jersey, has signed an agreement enabling it to become the exclusive manufacturer and distributor for TKSS’s solid oxide fuel cell products in the Republic of China and portions of South America.

FLORHAM PARK, New Jersey – May 6, 2002 [] Pursuant to the agreement, FCCI will assume all costs for manufacturing, marketing and distributing the solid oxide fuel cells in the licensed territories and is required to meet certain performance thresholds, including significant financial milestones, to maintain the license. “Given the accelerated pace of development of our solid oxide fuel cell, including the recent publication of a patent for the solid oxide fuel cell technology, it is important for us to forge the relationships that will bring our product to market and prepare the groundwork that will ease the transition from research and development to sales and marketing,” said Keith Blakely, President and COO of TechSys. “These licenses represent the first of many steps we intend to take to build the infrastructure necessary to move toward commercialization of these products.” “We are excited about the opportunity to join the TechSys team in bringing the world efficient, affordable and ecologically friendly power,” said Richard Janowski, President of FCCI. “Through our licenses, we intend to offer these developing countries a fast, cost effective and environmentally conscious method of delivering power to populations both within and outside of the traditional power grid.”
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