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American Security Resources to Acquire Rights to Patented Fuel Cells Tuesday September 6, 11:36 am ET Hydrogen Fuel Cell Technology on Printed Circuit Boards Has Wide Application
HOUSTON--(BUSINESS WIRE)--Sept. 6, 2005--American Security Resources Corporation (OTCBB:ARSC - News), announced today that it has signed a Letter of Intent to acquire an interest in EGO Design Inc., a privately-held company that holds patents for silicon-based, hydrogen fuel cells. With the acquisition, ARSC will gain the exclusive right to license and market the technology. ADVERTISEMENT [Blocked Ads]
According to Joe Grace, President of ARSC, "This proprietary technology will be the first commercially mass producible hydrogen fuel cell. We are eager to begin developing the markets for the many commercial and military applications for this break-through technology."
About EGO Design Inc.
EGO Design is a privately held company founded by the developers of unique hydrogen fuel cells. The principals of EGO believe the 5KW to 40KW fixed power market they have targeted could generate sales of $1 billion to the company within 8 years.
About American Security Resources Corporation
American Security Resources Corp. is a holding company actively seeking to acquire profitable, well-managed companies that provide products or services for homeland security or national defense. The company is currently in discussions to acquire several companies.
This news release contains certain "forward-looking statements" within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that results will meet or exceed such expectations.
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