Astris Recognized for Increasing Shareholder Value

Fuel Cells Today, Oct 17, 2003

Mississauga, Ontario-based alkaline fuel cell technology developer Astris Energi, Inc. recently announced that, according to data contained in the "2003 Fuel Cell Industry Survey" prepared by PricewaterhouseCoopers, Astris was the only one of 16 publicly traded North American fuel cell companies reporting an increase in shareholder value during 2002, "posting a gain of 249 percent over the 2001 figure."

Astris said the survey also revealed that while still a development-stage company, its "modest" revenues rose 553 percent in 2002, "the largest percentage gain in the group."

"In the last decade, a majority of investment has concentrated on [proton exchange membrane fuel cell technology], yet problems still persist -- mainly the cost of the cell and the complexity of the system," said Astris. "With substantially less funding, Astris technology has addressed some of these cost and operational issues."

Contact: Anthony Durkacz, Astris, phone 905-608-2000, website http://www.astrisfuelcell.com.

(EIN STAFF: 10/15)

Copyright (c) 2003 by EIN Publishing, Inc.