SOURCE: Electro Energy Inc.

July 14, 2008 11:15 ET

Electro Energy to Provide Battery for Fuel Cell Bus Project

DANBURY, CT--(Marketwire - July 14, 2008) - Electro Energy Inc. (NASDAQ: EEEID), a leading provider of advanced battery technologies and associated systems, announced today that it has been selected to supply a customized battery pack utilizing its patented Bipolar Wafer Cell Nickel Metal Hydride technology to the Georgetown University Methanol Fuel Cell Transit Bus Integration and Test Project.

EEI will partner with other distinguished team members, such as EV America, to develop the bus design as well as the battery and fuel cell integration and test plan to deliver a methanol fuel cell transit bus. In addition to supplying the customized battery pack utilizing its patented Bipolar Wafer Cell Nickel Metal Hydride technology, Electro Energy will also provide engineering and technical expertise.

Georgetown University, under a Grant from the Federal Transit Administration, is developing the next-generation liquid fueled (methanol) fuel cell power plant to be integrated and tested on a heavy-duty hybrid electric transit bus. The Fuel Cell System (FCS) is envisioned to be sufficient to power a 30-foot hybrid electric transit bus when optimized for operation with an energy storage system on the bus. The fuel cell system will include a fuel cell, fuel processor (methanol), controls, air treatment, cooling system, and water management subsystems.

The objectives of the program are to integrate the fuel cell system into a modern, 30-foot transit bus hybrid platform, and to demonstrate the methanol fuel cell bus in varying venues and environments within several transit agencies.

About Electro Energy Inc.

Electro Energy Inc., headquartered in Danbury, Connecticut, was founded in 1992 to develop, manufacture and commercialize high-powered, rechargeable bipolar wafer cell nickel-metal hydride batteries for use in a wide range of applications. Its Colorado Springs operation is AS9100/ISO9001 certified and supplies aerospace-grade high quality nickel cadmium batteries and components for satellites, aircraft and other specialty applications. EEEI is developing high power lithium rechargeable batteries utilizing the Company's proprietary bipolar wafer cell design. Its Gainesville, Florida facility is the largest lithium ion battery manufacturing plant in the US with annual capacity of over 30 million 18650 cylindrical cells, the standard cell used in the electronics industry. For further information, please visit www.electroenergyinc.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the companies, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include, among other things, the following: general economic and business conditions; competition; unexpected changes in technologies and technological advances; ability to commercialize and manufacture products; results of experimental studies; research and development activities; changes in, or failure to comply with, governmental regulations; and the ability to obtain adequate financing in the future. This information is qualified in its entirety by cautionary statements and risk factors disclosure contained in certain of Electro Energy Inc.'s Securities and Exchange Commission filings available at http://www.sec.gov.

Contact Information

  • Contact:
    Brenda Cooper
    (203) 797-2699