Company Announces It Is Developing Low-Cost Hydrogen Production System
HOUSTON--(BUSINESS WIRE)--American Security Resources Corporation (OTCBB:ARSC) announced that it is developing a technology to formulate hydrogen that will change the economics of producing hydrogen sufficient to enable the hydrogen economy.
In an interview on AudioStocks.com (www.audiostocks.com), ARSC CEO Frank Neukomm revealed that the company's subsidiary Hydra Fuel Cell Corp. was successfully upgrading an experimental method of producing hydrogen originally developed at a U.S. university.
Ben Schafer, CTO of Hydra Fuel Cell Corp., speaking on The Bill Chippas Show, (www.billchippasshow.com) said that currently the cost of producing a kilogram of hydrogen was around $7 to $8. Using this new technology, the cost of producing hydrogen could drop below $2 per kg, which is the DOE threshold to make hydrogen competitive with established energy sources.
Bob Farr, President and COO of ARSC, stated,"We expect the ability to produce hydrogen on demand using this technology will be a much bigger business for us than the fuel cell business."
American Security Resources Corporation
ARSC is a holding company actively seeking to acquire companies and technologies that will advance the development of clean energy. ARSC, through its Hydra subsidiary, is developing high volume, mass producible hydrogen fuel cells. For more information, please see: www.americansecurityresources.com
Safe Harbor Statement
This news release contains certain "forward looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.
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