Power Air to Demonstrate Indoor Generator at World Expositions
Power Air Corporation (OTC Bulletin Board: PWAC) today announced that it will demonstrate its fuel cell based generator at a number of North American and International Power and Fuel Cell events in early 2007.
"Power Air has been chosen to present at Alternative Energy 2007, a premier alternative energy and clean energy technology event, in Chicago in late April, 2007," states Mr. Donald Ceci, VP Sales and Marketing at Power Air. "We have also been invited to participate at the Hydrogen and Fuel Cells 2007: International Conference and Trade Show in Vancouver, Canada in April, 2007. These two events offer Power Air the opportunity to expose its technology and discuss collaboration on commercial products with both North American and International partners."
Power Air announced in June of 2006 that it is collaborating on the co-development and commercialization of an emergency back-up generator product for North America with Schrader Bridgeport International.
The fuel-cell based generator to be demonstrated at the tradeshows will be similar in appearance to traditional generators -- showing how readily Power Air's zinc-air fuel cell stack can be incorporated into commercial applications. In function, however, the Power Air generator will deliver added value, including the ability to provide reliable back-up or occasional use power safely indoors with zero emissions.
In addition to the North American events, Power Air has been invited and plans to participate in the Fuel Cell Expo 2007 in Tokyo in early February, 2007, and in the Hannover Messe -- the largest Energy and Industrial Trade Fair in the World, in mid-April, 2007, where over 100 companies and research institutions from 25 countries will reveal their latest products and developments.
"Participation in these prestigious events is an important pre-commercial activity," states Mr. Remy Kozak, President and CEO of Power Air. "We look forward to demonstrating to potential industry partners around the globe the progress Power Air has made towards commercializing our exclusive fuel cell technology."
About Alternative Energy 2007
Alternative Energy 2007 is a premier alternative energy and clean energy technology event, in Chicago in April, 2007. Alternative Energy 2007 will bring together an audience of more than 2,000 senior executives from around the world for five days of highly focused speeches, company presentations and networking.
About Hydrogen and Fuel Cells 2007
Hydrogen & Fuel Cells 2007: International Conference and Trade Show from April 29 - May 2, 2007 in Vancouver, Canada will highlight global activities and state-of-the-art in hydrogen and fuel cell products, technologies and demonstrations. Attendees will be presented the latest scientific breakthroughs, commercial opportunities and policy developments from the world's prominent hydrogen and fuel cell experts. http://www.h2fcc.ca
About Fuel Cell Expo 2007
Fuel Cell Expo 2007 is endorsed by the US Fuel Cell Council, World Fuel Cell Council, Hydrogen and Fuel Cells Canada, Fuel Cell Europe, and several other fuel cell associations. Fuel Cell Expo 2006 presented 404 leading companies from over 14 regions and 23,039 visitors from countries worldwide. http://www.fcexpo.jp
About Hannover Messe
Hannover Messe is the largest Energy and Industrial Trade Fair in the World. Hannover Messe 2006 was attended by 5,175 companies from 66 countries worldwide. http://www.hannovermesse.com
About Schrader Bridgeport International
Schrader Bridgeport International is a wholly owned subsidiary of Tomkins plc, serving the major players within the Industrial and Automotive markets based around the world.
About Tomkins plc
Tomkins plc is a world-class global engineering and manufacturing group with market and technical leadership across its two business groups: Industrial & Automotive and Building Products. Tomkins plc has 132 manufacturing facilities around the world with sales of $5.9 billion dollars in 2005, http://www.tomkins.co.uk.
About Power Air Corporation
Power Air Corporation, with the head office in Livermore, California, is engaged in the business of developing, manufacturing and marketing fuel cell based commercial products. Power Air has the exclusive worldwide license to zinc-air fuel cell technology that has been developed at the Department of Energy's Lawrence Livermore National Laboratory, in Livermore, California, for all fields of use (portable, stationary, light mobility and transportation applications) and commercialization.
Investor Relations call +1-866-734-7026 or e-mail to: investors*poweraircorp.com or OTC Financial Network Peter Clark +1-781-444-6100 x629 or email peter*otcfn.com.
This news release has been prepared by management of the company who takes full responsibility for its contents. No exchange, over-the-counter market or federal or state securities administrator has in any way either reviewed, approved or disapproved of the contents of this news release.
This news release contains forward-looking statements within the meaning of section 27A of the United States securities act of 1933, as amended, and section 21E of the United States Securities and Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the timely completion of all material and non-material matters comprising the share exchange agreement and its related transactions, the belief that the company will raise sufficient funding for the company's projected business purposes and the expectation that the company may be able to secure joint venture partners in the development of its technology. These statements involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements contained herein. Such risks and uncertainties may include, but are not limited to, factors outside the control of the company. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the company's periodic reports filed from time-to-time with the United States securities and exchange commission.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Investor Relations +1-866-734-7026, investors*poweraircorp.com or Peter Clark of OTC Financial Network +1-781-444-6100 ext. 629 peter*otcfn.com
Power Air Corporation Fuel Cell Technology ________________________________________
Symbol: PWAC.OB Shares Fully Diluted: 46M Free trading: 12M Escrow: 32M Warrants: 3M (Issued USD $1 for 2 yrs. Oct 3, '05) Float: 8M Long-term debt: Nil Cash 2.5 Mill Current Share Price: $.63 Short-term target: $2.35 Two year target: $5.00
Power Air Signs Agreement with Blue Chip Conglomerate to Commercialize and Launch the First Indoor & Outdoor Generator that Uses PWAC's Zinc Air Fuel Cell PWAC to Pioneer Billion Dollar Market for Indoor Generators Indoor Generators, 1st Target Market Offers Substantial Revenue and Growth
With a first-mover advantage, the stage is set for Power Air Corporation (OTC-BB: PWAC; http://www.poweraircorp.com) to become a leader in the billion dollar market for back-up power generators. The fuel cell market is forecast to exceed US $16 billion in total sales by 2011 (Allied Business Intelligence). The commercialization of PWAC's Zinc Air Fuel Cell (“ZAFC”) is on the horizon. Power Air could very well become a household name, just as Honda has become via the popularity of its gasoline generators.
Power Air's announcement on June 15 of its Original Equipment Manufacture (OEM) collaboration agreement with Schrader Bridgeport International is a block buster development for PWAC shareholders because it is an implicit endorsement of the Company's technology. For shareholders, it exemplifies PWAC's ability to (1) execute a smart business plan, and (2) introduce a zero-emission, durable, light-weight fuel cell that could be embraced by the masses.
Collaboration agreement to commercialize PWAC's Zinc Air Fuel Cell (ZAFC) generator has explosive growth potential: Schrader Bridgeport International will collaborate on the specifications, design, alpha and beta prototype build and test, field trial program, co-branding, and commercial launch of the target product, which is a cost-effective, refuelable backup generator that can operate indoors, safely, silently, efficiently, and emissions-free, with extended run capability.
Executing a commercialization strategy with an OEM that has a Blue Chip Pedigree: Schrader-Bridgeport is the world's largest designer and manufacturer of integrated pneumatic and fluid control solutions, and is a wholly owned subsidiary of Tomkins plc, a world-class global engineering and manufacturing group with market and technical leadership across its two business groups: Industrial & Automotive and Building Products. Tomkins plc has 132 manufacturing facilities around the world and recorded sales of $5.9 billion dollars in 2005, http://www.tomkins.co.uk.
Management's commercialization strategy is brilliant: leave large scale manufacturing for the mass consumer market to the OEMs. In so doing, PWAC can substantially limit risk and gain better revenue traction through licensing revenues. By targeting OEMs to license, market and co-develop back-up generator products, Power Air is fast tracking its ability to earn substantial revenue. The OEMs know the industry and what consumers will buy. They have the distribution channels in place. Power Air is leveraging this knowledge, expertise and marketing infrastructure to penetrate the very markets that the OEMs already dominate.
Power Air joins ZESTec: The OEM announcement quickly followed news that Power Air's has joined the Zinc Energy Storage Technology Consortium ("ZESTec"). ZESTec promotes the application and market development for all types of zinc based energy storage systems for a range of end uses from automotive to portable power, for consumer and business use. Membership of the ZESTec consortium includes Zinc Producers (Falconbridge, TeckCominco, Grillo, Industrias Penoles, Umicore and Zinifex) and Zinc Energy System Manufacturers (eVionyx, PowerZinc, SCPS and Power Air Corporation).
Power Air is poised to become the first alternative energy company to produce a fuel cell based generator for the mass consumer market- one that can be placed and operated indoors or out. In the midst of a critical oil and gasoline supply crisis, Power Air's fuel cell is a practical alternative to gas or diesel generators.
Power Air's fuel cell has numerous commercial applications, such as portable power packs, emergency generators, back-up power for telecom and utility sites, and UPS (uninterruptible power supply) for buildings, data centers, and server rooms. Alternatively, Auxiliary Power Units ("APU's") for RV's, trucks, boats and other light transportation vehicles can also benefit from the ZAFC. The unique technology and low manufacturing cost will compete with incumbent generator and battery products, internal combustion engines (generators) and with conventional fuel cells.
The timing for Power Air is absolutely right! PWAC is now geared-up to capitalize on the commercialization of a revolutionary breakthrough in fuel cell technology. Power Air's easily portable fuel cell based generator is ready for widespread, global adoption. The indoor generator is a new concept that is the prefect power source for burgeoning mass markets like the gulf states, where it can protect people and property during hurricanes, the Caribbean, where power outages are frequent, or developing countries, where electricity infrastructure is inadequate or virtually nonexistent.
Worldwide License to Patented Fuel Cell Technology: As the holders of an exclusive worldwide license to the patented Zinc Air Fuel Cell (ZAFC) technology --which California's prestigious Lawrence Livermore National Laboratory spent in excess of USD $8 million to develop-- Power Air is commercializing a line of generators for the lucrative back-up power market, which it has been demonstrating to numerous Zinc producers and OEM blue chip partners. By partnering up with OEM's, the Company will avoid duplicating costly, already existing OEM manufacturing, distribution service and support infrastructures, and will focus on cost reduction and improvement of the core technology offering.
Power Air is focused on engineering and achieving new advances in back-up power generation and storage. Power Air's fuel cell is a silent, scalable, zero-emission energy alternative that is poised to penetrate the fast growing commercial markets for traditional and indoor back-up generators; markets that tally revenues in the billions annually. More recently, Power Air's largest shareholders --Power Air Dynamics Ltd. ("PADL") and Power Air Technologies ("PAT") -- invested a further US $5.0 million to bring the ZAFC to the prototype level.
US $16 Billion Market: Allied Business Intelligence reports that the Fuel Cell market will exceed US $16 billion in total sales by 2011, achieving a compound annual growth rate (CAGR) of 51% from 2005-2011. Power Air is positioned to grab a substantial percentage of this market, by diligently pursuing commercial applications that will allow the Company to rapidly generate substantial revenue. To this end, Power Air has identified and targeted numerous opportunities in the portable, stationary, light mobility, and light transportation markets for fuel cells.
Focus and execution: Where other fuel cell companies have stumbled, Power Air is purposefully executing a growth strategy that targets a mass consumer market. On this note, two former Ballard Power Systems managers, Mr. Donald Ceci and Mr. Andrew Turnbull have joined Power Air. Power Air has set its sights on a substantial revenue opportunity: the market for traditional, outdoor generators, and an emerging, growth market for indoor back-up power units.
Fuel availability and storage safety issues: Zinc is a readily available source of fuel that is safe, non-toxic and easy to handle. Power Air is not concerned about sitting issues regarding fuel supply, such as those, Ballard Power faces with the storage of volatile hydrogen gas. The potential for fire hazards and environmental impacts inherent in 'conventional' hydrogen fuel cells are avoided.
First to Market Application: Generator Replacements. While the traditional generator market opportunities are immense, it is the half billion potential indoor sites that are the "blue-sky", blockbuster opportunity for Power Air's ZAFC technology.
Power Air is targeting the back-up power market because the fuel cell's green characteristics make it the ideal technology for the next generation of back-up power systems. Worldwide, the size of the in-door generator market is staggering: if the Company captures just one percent of an approximate several hundred million potential indoor generator sites, it stands to sell several million units. Notably, these figures do not include an estimate of the potential market for indoor generator sites (homes, condos and apartments), which can readily use a back-up power source that is emission-less, easily portable and silent. The potential size of the indoor power generator market in hurricane prone locales like Florida, Louisiana, Texas and the Caribbean alone is very lucrative!
Power Air's Fuel Cell was designed specifically to be used in homes and apartments. The ZAFC technology is the only back-up solution and the world's first re-fuelable back-up generator that can operate indoors, silently, efficiently and emission-free.
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