ALGONA, IA -- (MARKET WIRE) -- 04/02/07 -- Hydrogen Engine Center, Inc. (HEC) (OTCBB: HYEG)
announced today that it has completed the initial design and engineering of
its compact, single-cylinder internal combustion engine. The new engine is
entering operational testing, and is designed to run interchangeably on
hydrogen, propane, natural gas, ethanol or gasoline. This engine
complements the Company's existing family of 2, 3, 6 and 8-cylinder Oxx
Power(TM) alternative fuel internal combustion engines.
The one-cylinder engine greatly expands the potential market for HEC's
engines and power generation products. This market includes applications
such as powering industrial compressors, chemical and substance mixers and
industrial conveyers.
HEC will initially supply this engine to U.K.-based ITM Power, pursuant to
a previously announced teaming agreement. Under the HEC/ITM Power
agreement, HEC engines are being integrated with ITM Power electrolyzers,
to become a stand-alone power generation solution for industrial and
residential customers. This HEC-powered system can revolutionize the
residential energy market. In addition to industrial applications, the
one-cylinder Oxx Power engine generator-set system will be able to provide
all of the heating and hot water demands for homes. The system is designed
to allow for "fuel by wire," using lower cost, off-peak electricity or
locally produced renewable energy to generate hydrogen -- which then fuels
the Company's engines and generator sets to produce, full time, lower cost,
non-polluting home power. The first of these engines are to be delivered to
ITM this spring.
Ted Hollinger, HEC's founder and CEO stated, "The 0.8L, one-cylinder, Oxx
Power engine establishes a small and economical industrial power system
that can be used in many applications. We are excited to add this new
addition to our product line. By combining this engine with ITM's
application, we will be delivering a complete, stand-alone power generation
system to the market. This step represents an initial move toward a truly
energy independent future for our customers."
About Hydrogen Engine Center, Inc.
Hydrogen Engine Center, Inc. designs, manufactures and distributes
alternative-fueled internal combustion engines and power generation systems
for agricultural, industrial, airport ground support, vehicular, business
and home applications. All HEC engines and generators are capable of
running on a multitude of fuels, including but not limited to hydrogen,
gasoline, propane, natural gas or ethanol. Engines that run on other fuels
are currently under development. HEC trades on the Bulletin Board under the
symbol "HYEG.OB." Its principal offices are located at 2502 E Poplar St.,
Algona, Iowa 50511. Visit www.hydrogenenginecenter.com or call 515-295-3178
for more information.
This press release may contain certain forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. Investors
are cautioned that such forward-looking statements involve risks and
uncertainties, including without limitation, acceptance of the Company's
products, increased levels of competition for the Company, new products and
technological changes, the Company's dependence on third-party suppliers,
availability of capital and other risks detailed from time to time in the
Company's periodic reports filed with the Securities and Exchange
Commission.
Media Contacts:
Maggie Nye maggie@vendely.com
Elizabeth Vendely elizabeth@vendely.com
Vendely Communications, Inc.
818.623.1000
About Aaron Reed Aaron Reed is an assistant professor specializing in software architecture and design and .NET development at Neumont University in Salt Lake City, UT. He has worked professionally in the industry for over 12 years as a lead architect/designer, development manager, and VP of development. When he isn't spending time reading up on the latest in software development, Aaron loves spending time with his beautiful wife and three children.
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