Methanol Fuel Cell Car: "Fit for practical use"

DaimlerChrysler Necar 5 called "next generation" methanol-powered fuel cell vehicle.

Published: 07-Nov-2000

VANCOUVER, Nov. 7 /PRNewswire/ - DaimlerChrysler today unveiled Necar 5, the next generation methanol-powered fuel cell vehicle, and declared it to be "fit for practical use". Necar 5 is more powerful and reliable than previous versions, provides a dramatic reduction in greenhouse gases and virtually eliminates tailpipe emissions. In its press release, DaimlerChrysler described methanol as "an ideal liquid storage medium for hydrogen: it is a liquid at normal temperatures and can be transported, stored and handled much like gasoline or diesel fuel."

Methanex supports the fuel cell industry through its participation in the California Fuel Cell Partnership and Fuel Cells Canada as well as through a Cooperation Agreement with DaimlerChrysler and other key industry participants. Mr. Pierre Choquette, President and CEO of Methanex, commented, "Necar 5 represents a significant milestone towards the commercialization of methanol-based fuel cell technology. Methanex is committed to working towards establishing a stable supply of environmentally friendly and competitively priced methanol to allow for the wide spread commercialization of this exciting new technology."

Methanex is the world's largest producer and marketer of methanol. Methanol is widely considered to be a leading fuel candidate for many fuel cell applications. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX" and on the Nasdaq National Market in the United States under the trading symbol "MEOH." Methanex can be visited at www.methanex.com.

Information in this news release may contain forward-looking statements. By their nature, such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements. They include the ability to commercialize technical and scientific developments in the fuel cell industry and the commercial feasibility of using methanol in fuel cell applications.

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