GreenVolt Power Purchases Manufacturing Facility for Alkaline Fuel Cell Unit Production

1.3kW unit to go on sale third quarter of 2001 with 5kW modular unit to be unvieled in 2nd Quarter of 2001.

Published: 19-Dec-2000

ORILLIA, Ontario--(BUSINESS WIRE)--Dec. 18, 2000--GreenVolt Power Corp (OTCBB: GVLT) today announced that it has purchased a 10,000-square-foot manufacturing facility in anticipation of introducing and commencing full-scale production of its portable 1.3 Kilowatt alkaline fuel cell unit.

Terms of the cash purchase were not disclosed.

As recently announced, GreenVolt expects to introduce commercially an attractively priced 1.3-kilowatt alkaline fuel cell unit in the third quarter of 2001. A pre-production model of a 5-kilowatt alkaline fuel cell unit, with a modular design capable of supplying up to 350 kilowatts of energy, is expected to be unveiled during the second half of 2001.

Thomas Faul, president and chief executive officer of GreenVolt Power, stated, "The purchase of this facility, which was tailor made for our purposes, provides unique advantages for GreenVolt as we enter the next important phase in the company's development. Equally important is the fact that the property has received Phase II environmental site certification from Rubicon Environmental Inc. indicating it is one hundred percent free of contamination."

He noted that the building, located on a 1.6 acre lot at a very desirable industrial park complex in Orillia, Ontario, was designed to provide a uniform temperature and humidity environment. Faul added that building enhancements include: a multi-air purification system to provide a dust-free atmosphere and the best possible conditions for manufacturing alkaline fuel cell units; a separate welding room with a dedicated exhaust system; an installed computer system infrastructure with wiring and telephone lines shielded by steel tubing; a testing room designed for testing to ultimate limits, reinforced by armor-plated walls and shatter-proof glass; and a double-alarm system fortified by eight-foot-high fencing around the perimeter, installed for maximum security.

The company's 1.3 kilowatt alternative fuel cell unit is designed to provide an uninterrupted power supply to users that cannot tolerate a disruption in electric grid power. Its potential customer base includes: hospitals, financial institutions, government facilities, data processing centers and individuals who desire an auxiliary power source in the event of an emergency or in remote location applications.

Background:

Fuel cells are electrochemical devices that enable the chemical energy of fuels to be converted directly into electricity, thereby avoiding the fundamental loss of efficiency and emission of air pollutants associated with traditional power sources.

Based upon a concept first demonstrated in 1839 by William R. Grove, a British scientist who discovered that the electrochemical union of hydrogen and oxygen generated electricity, NASA continues to use these two chemical elements in an alkaline fuel cell power source that began with Project Gemini in 1965.

Technically speaking, a fuel cell is an electrochemical device that combines oxygen from the air and hydrogen to produce electricity. Like conventional batteries or electrochemical cells, fuel cells generate electricity from reduction/oxidation reactions at the electrodes of the cells. They produce electricity as long as hydrogen and air are supplied.

About the Company:

GreenVolt Power Corp, a development stage company, is initially focused on the commercialization of alternative, efficient and affordable sources of energy through the utilization of unique frost-proof and emission-free modular alkaline fuel cell ("AFC") systems and products, with a future commitment also to explore other alternative energy sources. An abundant, renewable power source, the AFC is designed to produce direct current electric power for use in stationary and portable power applications without pollution. For additional information, please visit the company's Web site at www.greenvolt.com.

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