TUSTIN, Calif., Aug. 22, 2002 (PRIMEZONE) -- Pacific Fuel Cell Corp. (OTCBB:PFCE) is pleased to announce today that it has signed an agreement with the University of California to do research and build a fuel cell prototype based upon PFCE's proprietary carbon nano-technology.
A major purpose of the project is to sharply reduce the amount of platinum needed for the fuel cell's operation.
Matching funds will be provided by the State of California.
George Suzuki, PFCE President, stated: "This research is planned as the first step in an aggressive plan to position PFCE in the forefront of a tidal wave that will carry fuel cells to prominence as the major, non-polluting, energy source."
Pacific Fuel Cell Corp. is an emerging Fuel Cell technology company aggressively developing low cost fuel cells for production, using proprietary technology to severely reduce or eliminate the need for platinum as a catalyst. PFCE is actively pursuing the acquisition of related intellectual property to further establish its position in the Fuel Cell Industry. The company is executing its plan to carve out a major position in this exciting and lucrative industry.
Certain matters discussed in this news release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and, as such, may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this news release.