SOURCE: Electro Energy Inc.
July 16, 2008 09:30 ET
RETRANSMISSION: Electro Energy to Provide Battery for Fuel Cell Bus Project
DANBURY, CT--(Marketwire - July 16, 2008) - Electro Energy Inc. (NASDAQ: EEEID), a leading
provider of advanced battery technologies and associated systems, announced
today that it has been selected to supply a customized battery pack
utilizing its patented Bipolar Wafer Cell Nickel Metal Hydride technology
to the Georgetown University Methanol Fuel Cell Transit Bus Integration and
Test Project.
EEI will partner with other distinguished team members, such as EV America,
to develop the bus design as well as the battery and fuel cell integration
and test plan to deliver a methanol fuel cell transit bus. In addition to
supplying the customized battery pack utilizing its patented Bipolar Wafer
Cell Nickel Metal Hydride technology, Electro Energy will also provide
engineering and technical expertise.
Georgetown University, under a Grant from the Federal Transit
Administration, is developing the next-generation liquid fueled (methanol)
fuel cell power plant to be integrated and tested on a heavy-duty hybrid
electric transit bus. The Fuel Cell System (FCS) is envisioned to be
sufficient to power a 30-foot hybrid electric transit bus when optimized
for operation with an energy storage system on the bus. The fuel cell
system will include a fuel cell, fuel processor (methanol), controls, air
treatment, cooling system, and water management subsystems.
The objectives of the program are to integrate the fuel cell system into a
modern, 30-foot transit bus hybrid platform, and to demonstrate the
methanol fuel cell bus in varying venues and environments within several
transit agencies.
About Electro Energy Inc.
Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in
1992 to develop, manufacture and commercialize high-powered, rechargeable
bipolar wafer cell nickel-metal hydride batteries for use in a wide range
of applications. Its Colorado Springs operation is AS9100/ISO9001 certified
and supplies aerospace-grade high quality nickel cadmium batteries and
components for satellites, aircraft and other specialty applications. EEEI
is developing high power lithium rechargeable batteries utilizing the
Company's proprietary bipolar wafer cell design. Its Gainesville, Florida
facility is the largest lithium ion battery manufacturing plant in the US
with annual capacity of over 30 million 18650 cylindrical cells, the
standard cell used in the electronics industry. For further information,
please visit www.electroenergyinc.com.
Certain statements in this news release may contain forward-looking
information within the meaning of Rule 175 under the Securities Act of 1933
and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to
the safe harbor created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and objectives of
the companies, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will prove to
be accurate and actual results and future events could differ materially
from those anticipated in such statements. Factors that could cause actual
results to differ materially from those in the forward-looking statements
include, among other things, the following: general economic and business
conditions; competition; unexpected changes in technologies and
technological advances; ability to commercialize and manufacture products;
results of experimental studies; research and development activities;
changes in, or failure to comply with, governmental regulations; and the
ability to obtain adequate financing in the future. This information is
qualified in its entirety by cautionary statements and risk factors
disclosure contained in certain of Electro Energy Inc.'s Securities and
Exchange Commission filings available at http://www.sec.gov.