SOURCE: UltraCell

UltraCell

December 30, 2009 09:00 ET

UltraCell Awarded $1 Million From the Ohio Third Frontier Fuel Cell Program

Award Supports Fuel Cell Industry Leadership; Company to Further Expand U.S. Manufacturing, Add Jobs

LIVERMORE, CA--(Marketwire - December 30, 2009) - UltraCell Corporation, a leading producer of portable fuel cells, has been awarded $1 million from the state of Ohio through the Ohio Third Frontier Fuel Cell Program. Announced by state officials earlier this month, UltraCell will use the funds to help move more of its UltraCell XX55™ manufacturing operations to the Dayton region.

The Ohio Third Frontier Fuel Cell Program accelerates the development and growth of the fuel cell industry in Ohio by direct financial support to organizations seeking to investigate near-term specific commercial objectives or adapt or modify existing components that can reduce the cost of fuel cell systems or address technical and commercialization barriers.

"Innovative companies like UltraCell are working hard to ensure alternative energy sources become a reality not just for the markets they serve, but for local communities like Dayton that benefit from their advancement and the businesses they build," said Mike McKay, Manager of the Technology Business Assistance Office in the Ohio Department of Development's Technology and Innovation Division.

"We're pleased to have the continued support of the Ohio Third Frontier Fuel Cell Program," said UltraCell CEO Keith Scott. "We remain steadfast in our commitment to the state of Ohio and our Dayton operations and grateful for the state's financial award which further underscores their trust in our products and growth strategy."

Also earlier this month, UltraCell announced that it had secured $3 million in federal stimulus funds from the U.S. Department of the Air Force as part of the American Recovery and Reinvestment Act of 2009. The funds will be applied towards the "50W Soldier Portable Fuel Cell System" program, created to support the design and development of reliable, efficient portable fuel cells for dismounted warfighters deployed in Afghanistan and other arenas across the globe. Under the program, UltraCell will build 65 fuel cell systems based on its XX55 Reformed Methanol Fuel Cell (RMFC).

About UltraCell

UltraCell is a leading producer of fuel cell systems for mobile devices. With an exclusive license with Lawrence Livermore National Laboratories for micro fuel cell technology, the company has developed new technologies and intellectual property in the field of methanol-based fuel cells. Its patented, award-winning portable fuel cell, the XX25™, achieved Technology Readiness Level (TRL) 7 status, a significant U.S. Army milestone and certification for military use and commercial production. For more information about UltraCell, please visit http://www.ultracellpower.com/.

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