SOURCE: Astris Energi Inc.

January 23, 2006 09:15 ET

Astris Energi Announces Collaboration With Queens University and Queen's-RMC Fuel Cell Research Centre

MISSISSAUGA, ON -- (MARKET WIRE) -- January 23, 2006 -- Astris Energi Inc. (OTC BB: ASRNF) announced today that projects have been initiated with Queen's-RMC Fuel Cell Research Centre (FCRC) and the Queen's Fuel Cell Team (QFCT).

The Queen's Fuel Cell Team (QFCT) is developing a fuel cell system to power a golf car that is based on the Astris POWERSTACK™ MC250 which QFCT purchased. The Astris fuel cell was selected due to price and availability when compared to other comparable fuel cells on the market.

The Queen's-RMC Fuel Cell Research Centre (FCRC) is Canada's leading university-based research and development organization addressing the key technology challenges to the adoption of fuel cell applications. The initial project between Astris and FCRC is funded in excess of 57% by a grant from Materials and Manufacturing Ontario (MMO) and is expected to be followed up by future projects that address commercialization and manufacturing of Astris' fuel cell technology.

"We are delighted to be working with Astris Energi both in research and in educating students," said Dr. Jon Pharoah, Professor at Queen's University and Researcher at the FCRC. "The Queen's Fuel Cell Team gives excellent exposure not just to fuel cells, but to the entire system required to deliver a product using fuel cell technology. Students spanning all years of the engineering program are excited to be working on the project."

"We are excited to have started these projects and are looking forward to working with the professionals that are accessible to us through the Fuel Cell Research Centre," said Peter Nor, Vice President Marketing and Corporate Development of Astris Energi. "We are grateful to Materials and Manufacturing Ontario for supporting the initial research project as it allows Astris to access the strong fuel cell knowledge base in Ontario and it leverages the funds that we are able to commit to continued research and development."

About Astris Energi Inc.

Astris is committed to becoming a leading provider of affordable stationary and motive power fuel cells and components. Additional information is also available at the company's website at www.astris.ca.

About Queen's Fuel Cell Team (QFCT)

The Queens Fuel Cell Team exists to promote hands-on engineering work in planning, design and evaluation of fuel cell technologies. It is dedicated to developing professional skills among students of all disciplines and will be committed to the exploration of better ways to take advantage of/make use of, store and utilize Earth's energy resources.

About Queen's-RMC Fuel Cell Research Centre (FCRC)

The Queen's-RMC Fuel Cell Research Centre (FCRC) is Canada's leading university-based research and development organization in partnership with industry dedicated to advancing the knowledge base for addressing the key technology challenges to the adoption of fuel cell applications. www.fcrc.ca

About Materials and Manufacturing Ontario (MMO)

Materials and Manufacturing Ontario (MMO) is an Ontario Centre of Excellence committed to making connections between the best university research and the needs of Ontario industry. MMO supports university research in materials and manufacturing, develops partnerships, trains qualified graduate students with an industrial orientation, and transfers knowledge and technology to industry. www.mmo.on.ca

Forward-Looking Statements

Any statements in this release that are not statements of fact may be considered "forward-looking statements" as that term is defined under securities laws in the United States and Canada. Forward-looking statements are only predictions and may differ materially from actual events or results.

Contact Information

  • For further information, please contact:
    Peter Nor
    VP of Marketing and Corporate Development
    905-608-2000
    Astris Energi Inc.
    www.astris.ca