May 09, 2005 Lehigh Valley, Pa.
Air Products (NYSE: APD) today announced the signing of a supply agreement with Proton Energy Systems, Inc., a subsidiary of Distributed Energy Systems Corp. (NASDAQ: DESC), and selection of Proton as the preferred supplier for its electrolysis-based hydrogen energy stations.
"From a PEM (proton exchange membrane) standpoint, Proton is a leader in this technology," said Ed Kiczek, senior business development manager, Future Energy Solutions at Air Products. "When you combine Proton's PEM electrolysis with our hydrogen compression, storage and dispensing technology, you have a fully comprehensive hydrogen fueling station with zero emissions at the site."
Robert Friedland, senior vice president of Proton's hydrogen technology group, added, "Continuing to team with Air Products on hydrogen fueling stations reaffirms the value of our collaboration on this important work. Our joint efforts to date created a configuration that is deployable in a simple compact design layout to provide fuel cell quality hydrogen for various vehicle configurations. We look forward to our future collaboration to help advance the state of the art and the promise of hydrogen fueling technology."
Under the supply agreement, Proton's HOGEN® hydrogen generators, which produce hydrogen from electricity and water in a clean and efficient process using its proprietary PEM technology, will initially be used at three previously announced Air Products fueling stations to be placed in California in 2005. Recently, Air Products was selected for three demonstration projects by the California South Coast Air Quality Management District (SCAQMD) for fueling stations to be placed in Burbank, Riverside and Santa Monica. Air Products and Proton have also collaborated on fueling stations to be located in Vermont, and at a station soon to be dispensing hydrogen for bus transportation at the University of Nevada-Las Vegas.
About Proton Energy Systems, Inc.
Proton Energy Systems, Inc. designs, develops, and manufactures Proton Exchange Membrane, or PEM, electrochemical products that it employs in hydrogen generating devices and in regenerative fuel cell systems that function as power generating and energy storage devices. Proton's HOGEN® hydrogen generators produce hydrogen from electricity and water in a clean and efficient process using its proprietary PEM technology. For more information visit www.protonenergy.com.
About Distributed Energy Systems Corp.
Distributed Energy Systems Corp. (NASDAQ: DESC - News) creates and delivers products andsolutions to the emerging decentralized energy marketplace, giving users greater control over their energy cost, quality and reliability. As the parent company of Proton Energy Systems (www.protonenergy.com) and Northern Power Systems (www.northernpower.com), Distributed Energy Systems delivers a combination of practical, ready-today energy solutions and the solid business platforms for capitalizing on the changing energy landscape. For more information visit www.distributed-energy.com.
About Air Products
Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of $7.4 billion, operations in over 30 countries, and nearly 20,000 employees around the globe. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.