Pacific Fuel Cell Corp. Announces Agreement to Purchase Equipment from SGL TECHNIC, INC. and License Agreement with SGL TECHNOLOGIES, GmbH in Preparation for Manufacturing Fuel Cell Components

    TUSTIN, Calif.--(BUSINESS WIRE)--Pacific Fuel Cell Corp. (OTCBB:PFCE) is pleased to announce that it has entered into an agreement with SGL TECHNIC, INC., a subsidiary of SGL CARBON, AG to purchase presses, initially to be used for the manufacture of bi-polar plates (BPP), an important component of fuel cells. Concurrently, PFCE has entered into a license agreement with SGL TECHNOLOGIES GmbH for the use of its Molding Technology to manufacture and sell BPP made from compounds purchased from SGL TECHNOLOGIES GmbH.

    George Suzuki, PFCE President, stated: "SGL built up the BPP business segment and PFCE expects to assume its position as a supplier to the leading fuel cell companies. This is a first step to PFCE becoming a full spectrum manufacturer of fuel cell components."

     "Manufacturing is expected to start in 1 month in a plant in the state of Ohio. We plan to become a revenue producing production company this year, as opposed to a strictly research and development company."

    Pacific Fuel Cell Corp. is a nanotechnology company committed to producing fuel cell components with reduced cost and higher performance in the portable and micro fuel cell market, utilizing nanotechnology.

    Certain matters discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and, as such, may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release.