Skeljungur Ltd. and DCH Launch Commercial Fuel Cells Initiative
VALENCIA, Calif., March 5 /PRNewswire/ -- DCH Technology, Inc. (Amex: DCH), a leading innovator of hydrogen fuel cells and safety devices, announced they have signed an agreement with Skeljungur Ltd. (The Shell Distributors in Iceland) under which the energy provider will distribute DCH fuel cells in Iceland as part of a six-month market opportunity assessment. Skeljungur Ltd. will then act as the distributor of DCH fuel cells to markets identified.
DCH further announced they have signed an agreement with Icelandic New Energy (INE), a commercial consortia that includes several global and Iceland businesses, to provide hydrogen fuel to users of DCH fuel cells from a hydrogen depot the INE has constructed in Reykjavik, the nation's capitol. The depot will provide hydrogen at consumer pricing significantly less than that typically available from today's industrial and commercial vendors.
Both announcements are part of an INE strategy to launch a hydrogen-based economy in Iceland -- in harmony with the nation's government strong commitment to eliminate the use of fossil fuels, and as a model for implementing hydrogen energy infrastructures worldwide. Other consortia members include Norsk Hydro, one of the world's largest manufacturers of hydrogen-generating equipment, and VistOrka.
"The market study will allow Icelanders to become intimately involved with fuel cells, and the clean energy they provide," said INE Chairman Torsteinn Sigfusson. "They will learn how they work, how easy they are to fuel, and thus how easy and safe they are to meet their portable power needs.
"Skeljungur's understanding of the needs of local consumers is the key to building a fuel cell business. They have the service and customer orientation necessary to translate market requirements into fuel cell features and functions that the public will embrace and use and thus collectively build momentum towards an Icelandic hydrogen economy."
The DCH Enable(TM) fuel cell technology can be readily packaged in various shapes and sizes to meet the needs of specific product-power applications. The fuel cells selected for the study are the latest design of the Enable(TM) 12-watt unit, which are about the size of a soda can and weigh just over a pound. They will be fueled by either compressed hydrogen gas or canisters of hydride to allow the market to understand the flexibility required to use hydrogen power today.
The INE depot will generate hydrogen through electrolyzers, equipment that splits and segregates the hydrogen and oxygen atoms found in water, with the only emission pure oxygen. DCH hydrogen sensors will monitor the depot for safety, and the DCH Center For Hydrogen Safety(TM) will serve as safety consultant for fuel storage and delivery.
"This is the first time ever that a wholly commercial enterprise is comprehensively addressing the hydrogen energy market as a viable business," said DCH Chairman David Haberman. "Skeljungur Ltd. and the INE are demonstrating the leadership that validates Iceland's commitment to, and ultimately success in, using hydrogen energy. DCH is extremely pleased to the only provider of fuel cells, hydrogen sensors, and hydrogen safety services to this initiative."
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h the Securities and Exchange Commission.
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