Proton Energy Systems Launches HOGEN(R) H Series Hydrogen Generator
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WALLINGFORD, Conn., Dec. 2 /PRNewswire-FirstCall/ -- Proton Energy Systems, Inc. (Nasdaq: PRTN), a leader in on-site hydrogen generator products and regenerative fuel cell technology, plans to unveil its HOGEN H Series hydrogen generators at the POWER-GEN International convention in Las Vegas on December 9, 2003. The latest and most advanced of Proton's generators, the H Series provides customers with a safe, pure and reliable hydrogen supply. Similar to its predecessors in the HOGEN product line, the H Series hydrogen generators are a proven alternative to delivered hydrogen, producing ultra-pure hydrogen 24/7 at an output capacity of 80-240 standard cubic feet per hour at a fraction of the cost of cylinder or tube trailer gas. Combining low cost on-site gas production with the elimination of time to order, receive, move and secure delivered gas, the HOGEN H Series hydrogen generator can dramatically reduce cost and increase productivity. Designed to meet the demands of higher volume customers in the power generation, semiconductor, electronics, and heat-treating fields, the H Series generators also offer the flexibility to incorporate additional cell stack modules, which produce hydrogen from electricity and water, to further increase hydrogen output without increasing the unit's compact footprint. Proton plans to place four units at four different power generation plants providing hydrogen for generator cooling, starting early next year as part of its final field-testing program. Proton intends to accept orders upon launch for expected delivery in the summer of 2004. According to Proton Energy Systems President Dr. Larry Sweet, "The H Series is a major push to widen our penetration of the on-site hydrogen generation market. Previously, there were many potential customers interested in our technology, but outside the capacity range of our existing product lines. These units offer customers exceptional value in financial payback and safety improvements." "The H Series will also contribute to our continuing efforts to demonstrate the game-changing concept of turning electricity into fuel for fuel cells. The increased output of the new product series makes it ideal for fueling multiple vehicles," Sweet said. POWER-GEN International is the premier conference for power generating and electric utility companies. Proton Energy Systems, Inc. ( http://www.protonenergy.com ) designs, develops and manufactures Proton Exchange Membrane, or PEM, electrochemical products that it employs in hydrogen generating devices and in regenerative fuel cell systems that function as power generating and energy storage devices. Proton's HOGEN(R) and FuelGen(TM) hydrogen generators produce hydrogen from electricity and water in a clean and efficient process using its proprietary PEM technology. This press release contains forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Statements contained herein concerning Proton's goals, guidance, revenue projections and other statements that are not statements of historical fact may be deemed to be forward-looking information. Without limiting the foregoing, words such as "anticipates," "believes," "could," "estimate," "expect," "intend," "may," "might," "should," "will," and "would" and other forms of these words or similar words are intended to identify forward-looking information. Proton's actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors. Proton disclaims any obligation to update these forward-looking statements. Factors that could cause results to differ materially from those contained in Proton's forward-looking statements include, but are not limited to, our failure to complete development of our products, failure of our products to achieve commercial acceptance, our inability to expand our production facilities, manufacture our products at commercially acceptable costs or establish distribution relationships, the impact of competitive products, failure to complete the Northern merger or realize the anticipated benefits of the merger, and other factors detailed in our Form 10-Q for quarter ended September 30, 2003 and other filings made from time to time with the SEC. PROTON(R), HOGEN(R), UNIGEN(R), FUELGEN(TM), HIPRESS(TM) and TRANSFORMING ENERGY(TM) are trademarks or registered trademarks of Proton Energy Systems, Inc. CONTACT: General Info Analysts |