FuelCellsWorks

This Crown Equipment forklift is powered by a fuel cell with graphite plates made by GrafTech International of Parma

Environment-Friendly Advancements Shared at Symposium

NEW BREMEN, Ohio–Crown Equipment Corporation is dedicated to responsible product design, sustainable business practices and environmental stewardship. Researching the use of fuel cell technology in its fork lifts is one way the company is striving to meet these objectives.

At the Ohio Fuel Cell Coalition’s recent Fuel Cell Symposium, Crown shared its commitment to providing environmentally friendly alternative fuels. A leading global manufacturer of lift trucks, Crown was one of 30 companies that presented at the symposium.

Held in Akron, OH, the event communicated the state’s leadership in fuel cell advancements, promoting the growth of the Fuel Cell Corridor and positioning Ohio as the global center of the fuel cell industry.

Expanding on its environmental commitment, Crown was recently awarded nearly $1 million in grant money from the state of Ohio to conduct fuel cell research. “Crown is a leader in fuel cell vehicles for the material handling industry, and this development is a natural support of the company’s ongoing environmental sustainability focus,” said Eric Jensen, Manager of New Technology, Research and Development for Crown, who presented at the symposium.

In addition, there were demonstrations of Crown’s fuel cell powered PE 4500 Series forklift truck. Crown already has PE’s operating in large warehouses, distribution centers and manufacturing plants of Fortune 500 corporations across the country.

About Crown Equipment Corporation Crown is the number one brand of electric lift trucks in the United States and the sixth largest lift truck manufacturer in the world. Crown’s award-winning line of lift trucks has earned a reputation for exceptional product design, engineering and manufacturing. From the smallest hand pallet truck to the highest lifting turret truck, Crown seeks to provide users with safe, efficient and ergonomic lift trucks that lower total cost of ownership and maximize uptime. Headquartered in New Bremen, Ohio, Crown lift trucks are manufactured and sold throughout the world.

About the Ohio Fuel Cell Coalition The Ohio Fuel Cell Coalition (OFCC) is a consortium of industry, academic and government leaders dedicated to fostering the growth of the Fuel Cell Corridor and expanding awareness of the benefits of fuel cell technology. Established in 2003, the OFCC is the largest regional membership organization in the industry and currently has more than 100 member organizations.

SHANGHAI — Britain-based Riversimple, a company founded by former race car driver Hugo Spowers and backed by Porsche scion Sebastian Piech, Tuesday unveiled the prototype for a two-seat, hydrogen powered car promising fuel consumption equivalent to 360 miles per gallon (106 kilometres/litre).

Riversimple bills itself as a company dedicated to making highly energy efficient vehicles using a “radical new approach to personal mobility.”

Instead of selling the car, touted as the world’s first low-cost and practical hydrogen vehicle, Riversimple says it plans to lease it, for about 200 British pounds ($315) per month – for the car’s expected 20-year lifetime. Leases would include refuelling .

Production may begin by 2013, it said.

Hydrogen, which generates zero emissions, is considered just about the cleanest option for automotive power. But issues of how to store and distribute it for refuelling have yet to be resolved.

Most prototype hydrogen-powered vehicles developed so far have been impracticably heavy or expensive, or both.

Riversimple’s vehicle is built of lightweight composite materials and weighs only 772 lbs (350 kilograms). It can reach 50 miles per hour (80 kph) and travel 240 miles (390 kilometres) on a 2.2 pound (1 kilogram) tank of hydrogen, Riversimple said in a statement.

It is equipped with a 6 kilowatt fuel cell that powers electric motors on each of its four wheels that double as brakes and can generate electricity, which is stored in devices called ultracapacitors.

“We believe we are closer to market with a commercial viable fuel cell car than anyone else,” Spowers said in a statement.

The car was developed by Riversimple in collaboration with Oxford University, Cranfield University in Bedfordshire and Horizon Fuel Cell Technologies, a Shanghai-based developer and manufacturer of hydrogen fuel cells and related products.

The research was supported by the British gas company BOC Group PLC and the Piech family, including Sebastian Piech, a great-grandson of Porsche founder Ferdinand Porsche. Riversimple lists Piech among members of its leading “team.”

The new car represents a big step for Horizon, which sells fuel cells used to power consumer products and has developed solid-state storage and refilling technology for hydrogen.

“Hydrogen has the best energy density. It is the ultimate energy storage unit,” Taras Wankewycz, a Horizon founder, said in a recent interview in Shanghai.

While big automakers have tended to adapt conventional vehicle technology to alternative fuels, Horizon has focused on the fuel cells and refuelling technologies, at first starting with small devices such as hydrogen powered model cars.

“We’re growing the size. The device can be made bigger, say, for a lawn mower or leaf blower or a bike. You get it a bit bigger, and it can be used for an automobile,” he said.

HOUSTON — American Security Resources Corporation (Pinksheets: ARSC) announced today that it has signed an agreement with Highland Project Capital Group LLC to arrange financing for one or more integrated fuel cell manufacturing facilities.

Bob Farr, President and COO of ARSC, stated, “Hydra has been successful in generating a $21,000,000 purchase order backlog which will take more than two years of production from Hydra’s current plant. The plant we are planning with Highland’s help should be able to produce hundreds of fuel cells per month.” Farr continued, “Highland is expected to arrange financing from a variety of sources that may include Industrial Revenue Bonds, equity and grants.”

Highland Project Capital Group LLC

Highland Project Capital Group specializes in arranging corporate municipal debt and equity transactions on behalf of corporate and government clients. Highland will represent project developers, public bond issuers and corporations in developing and closing transactions involving tax-exempt or taxable debt and/or private equity to finance project costs under the most efficient available terms and within the most reasonable periods of time. Highland is headed by two investment bankers with a combined 70 years of experience in capital markets.

American Security Resources Corporation

ARSC is a holding company actively seeking to acquire companies and technologies that will advance the development of alternative energies. ARSC, through its Hydra subsidiary, has developed high volume, mass producible hydrogen fuel cells. Its American Hydrogen Corp. subsidiary is developing methods to inexpensively formulate hydrogen. For more information, please see: www.americansecurityresources.com.

6.7 Million Shares to be Issued At $3.59 Per Share

DANBURY, Conn.– FuelCell Energy, Inc. announced today that it entered into definitive agreements to sell 6.7 million shares of its common stock at $3.59 per share in a registered direct offering. The transaction is expected to close on June 19, 2009, subject to customary closing conditions.

FuelCell Energy intends to use the net proceeds from this offering for product development, project financing, expansion of manufacturing capacity, and general corporate purposes. Canaccord Adams Inc. and Lazard Capital Markets LLC acted as placement agents for the offering.

A shelf registration statement relating to these securities previously was filed and declared effective by the Securities and Exchange Commission. A prospectus supplement related to the offering will be filed with the Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of offers to buy any security and shall not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful. A copy of the base prospectus and prospectus supplement (once filed) can be obtained at the Securities and Exchange Commission’s website http://www.sec.gov or via written request to FuelCell Energy at 3 Great Pasture Road, Danbury, CT 06813, Attention Investor Relations.

About FuelCell Energy, Inc.

FuelCell Energy is the world leader in the development and production of stationary fuel cells for commercial, industrial, municipal and utility customers. FuelCell Energy’s ultra-clean and high efficiency DFC(r) fuel cells are generating power at over 50 locations worldwide. The company’s power plants have generated over 315 million kWh of power using a variety of fuels including renewable wastewater gas, biogas from beer and food processing, as well as natural gas and other hydrocarbon fuels. FuelCell Energy has partnerships with major power plant developers and power companies around the world. The company also receives funding from the U.S. Department of Energy and other government agencies for the development of leading edge technologies such as fuel cells. For more information please visit our website at www.fuelcellenergy.com

LONDON– Today a new generation of fuel cells developed by Horizon Fuel Cell Technologies has enabled the world’s first low-cost and practical hydrogen car. The top secret UK development unveiled today in London is a two-seater zero emissions hydrogen-electric city car with an expected fuel consumption equivalent to 360 miles per gallon*, six times better than today’s best available hybrid electric vehicles. What’s more, this innovative car could be made available to consumers for just 200 pounds Sterling ($315) per month.

Developed by Riversimple, the small city car integrates a 6kW fuel cell from Horizon Fuel Cell Technologies. The vehicle maximizes energy efficiency by utilizing lightweight composite materials, eliminating heavy mechanical component, and by networking fuel cells with ultra capacitors and 60% regenerative braking energy into one symbiotic system. The result is ground-breaking: 240 miles (390 km) can be traveled on one small tank of hydrogen weighing only 2.2 lbs (1 kilogram).

Hugo Spowers, founder of Riversimple said, “Horizon’s approach to commercialization of fuel cells perfectly complements our approach to bringing hydrogen fuel cell cars to market. Thanks to this partnership, we believe that we are closer to market with a commercially viable fuel cell car than anyone else in the world.”

The networked fuel cell power-train design led to a reduction in fuel cell power requirements by a factor of 6 compared to other urban vehicles of similar performance and by a factor of 15 compared to other fuel cell prototype vehicles – an effort further magnified by Horizon’s ability to supply high power fuel cells at greatly reduced costs.

“Many people lost track of the fact that fuel cell cars are electric cars, since fuel cells store and deliver electrical energy, just like batteries – only with significantly more storable energy per unit of weight. Batteries and ultra capacitors on the other hand, offer more power per unit of weight, but less storable energy,” said Taras Wankewycz, one of Horizon Fuel Cell Technologies’ founders. “Technologies have evolved, but more importantly, Riversimple brought them together as one system, in a way that greatly exceeds the sum of their individual benefits. This next generation hydrogen-electric car brings electric vehicles into a new stage where range, charge-time and cost are no longer commercial barriers.”

The Riversimple car will be commercialized internationally using an “open-source” production model inspired by the software industry, creating new entrepreneurial possibilities around the world and the promise of car manufacturing jobs within the communities where the vehicle is used. Because the car can be produced and maintained locally, the carbon footprint associated to century-old models of centralized car manufacturing and distribution is also significantly reduced.

Fuel Cells and Refueling

A fuel cell converts the chemical energy of hydrogen into usable electric energy without combustion, with water as its only by-product. Unlike batteries, fuel cells separate energy storage and energy conversion functions. If used as a primary source of power like many fuel cell vehicle developments to date, fuel cells can become extremely expensive as power needs impacts their size. But when changing the configuration and coupling the high energy density quality of fuel cells with higher power density ultra-capacitors, it is possible to greatly increase the performance of electric vehicles while reducing their cost. Ultra-capacitors are charged by the car’s regenerative braking system, providing power for acceleration. By de-coupling acceleration from cruising, a much smaller, lower power and lower cost fuel cell can be used.

With a smaller fuel cell consuming much less hydrogen, the vehicle no longer depends on large storage tanks, which greatly reduces the costs and complexities so far associated with hydrogen supply. Working simultaneously with BOC to make hydrogen affordable, sustainable and readily available for refueling, what many believed would be twenty or thirty years away can be done today by using an existing industrial hydrogen supply system.

Horizon started commercializing fuel cells four years ago from small and simple products to larger energy storage solutions. The company is emerging as a world leader in the commercialization of fuel cell integrated energy solutions and offers a complete range of products and solutions for the consumer, industrial and transportation markets. Horizon’s new multi-kilowatt systems, which are currently being adopted in various applications including cellular telecommunication sites, can store significantly more electrical energy than batteries.