TUSTIN, Calif., Sept. 24, 2002 (PRIMEZONE) -- Pacific Fuel Cell Corp. (OTCBB:PFCE) is pleased to announce that the Company has filed its application for a market listing in Germany to introduce PFCE to the European investment community. PFCE has met admission requirements and has been accepted for listing on the Berlin Stock Exchange. By listing on the Berlin exchange we offer European investors the opportunity to trade the company's highly liquid shares. European investors are trading American shares much more often, and in continually larger amounts.
With this new listing, PFCE will have a presence among all European investors, both institutional and retail. "We take pride in having passed the exchange's admission requirements, and appreciate the implied confidence in our Company," stated President and CEO, George Suzuki. In this context, the Company plans to carry out an intensive program to acquaint European investors with the Company with the goal of generating joint venture and acquisition opportunities. This is largely in response to the ever-present interest in advanced fuel cell technology displayed throughout Europe. The Europeans, and particularly the Germans, are among the leaders in appreciating efficient, environmentally friendly, alternative energy sources.
PFCE stock began trading September 23, 2002 on the Berlin exchange with the ticker symbol "PFU:BE" and the German security number (WKN) 934596.
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 refining its technology with the help of the University of California and financial support from the State of California and is proceeding with its plan to build a prototype. PFCE is actively pursuing the acquisition of related intellectual property and manufacturing capability 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.