MISSISSAUGA, Ontario, July 27, 2004 -- Astris Energi Inc. (OTCBB:ASRNF), the world's leading alkaline fuel cell (AFC) technology company, today announced that Independent Equity Research Corp. has published a research report on the company, rating the stock a "Speculative Buy".
Independent Equity Research Corp., operating as eResearch, is a leading source of continuous, independent research on publicly traded companies for both individual and institutional subscribers. eResearch delivers in-depth stock research with a focus on small and micro-cap stocks.
eResearch's report on Astris was written by Senior Analyst David Cohen, CFA, who has 20 years of experience as an investment analyst at First Marathon Securities Limited, Research Capital Corporation, McNeil, Mantha Inc. and Wood Gundy. In 1993, he was ranked as the number one consumer products analyst by Brendan Woods. Cohen received his CFA charter in 1984 and is the holder of an MBA degree.
The conclusions and opinions expressed in the report are those of eResearch, based on its own independent research, and on briefings with Astris. Astris does not endorse any of the opinions, forecasts, conclusions or recommendations by analysts.
The complete 12-page research report is available on the company's website at www.astris.ca.
About eResearch
eResearch (Independent Equity Research Corp.) is an independent equity research firm focused on under-covered, under-followed North American equities. It has based its business model on that of the bond rating agencies and receives fees from its subscribers and the companies it covers. It does not trade in the securities of the companies it covers or accept any stock related compensation for its research services. It conducts no investment banking or investor relations services for the companies it covers. eResearch's sole business is equity research over which it retains complete editorial control.
About Astris Energi Inc.
Astris is a late-stage development company committed to becoming the leading provider of affordable fuel cells and fuel cell generators internationally. Over the past 21 years, more than $17 million has been spent on the development of Astris' AFC. The company is commencing pilot production of its POWERSTACK(tm) MC 250 technology in 2004. Astris is the only publicly traded company in North America focused exclusively on the alkaline fuel cell. Additional information is also available at the company's website at www.astris.ca.
Forward-Looking Statements
Any statements in this release that are not statements of fact may be considered "forward looking statements" as that term is defined under securities laws in the United States and Canada. Forward-looking statements are only predictions and may differ materially from actual events or results.