UltraCell Opens Discussions with Strategic Partners and Potential Acquirers
Leading Fuel Cell Developer in Talks With Potential Partners to Facilitate Company Growth and Build Upon Game-Changing Reformed Methanol Fuel Cell Technology
LIVERMORE, CA - UltraCell Corporation, a leading producer of portable fuel cells, today announced it is in initial discussions with strategic partners and potential acquirers. Currently serving the critical government market for portable fuel cells, the company is focused on leveraging existing contracts and meeting the demand for its industry-leading fuel cell products. UltraCell's board of directors has asked company management to pursue discussions with other interested parties capable of assisting in these strategic objectives.
"As the leading provider of fuel cells to the United States military, UltraCell is uniquely positioned to expand business relationships with all branches of the U.S. armed forces, law enforcement and public safety officials," said CEO Keith Scott. "Along with the company's established manufacturing facility - a unique resource in the fuel cell space - our fuel cell technology platform delivers field-tested, reliable, portable power that can be leveraged across numerous markets and end-applications."
UltraCell's reformed methanol fuel cell (RMFC) technology is the basis for the company's XX25 and XX55 portable fuel cell systems, each having undergone extensive field testing by U.S. military personnel at home and abroad. UltraCell's XX25 and XX55 systems have delivered reliable portable power for recent field trials and exercises such as the Army Expeditionary Warrior Experiment (AEWE); the Defense Advanced Research Projects Agency (DARPA) and Communications-Electronics Research, Development and Engineering Center (CERDEC)-sponsored humanitarian and civic assistance (HCA) exercise in the Dominican Republic; and most recently, for disaster relief for the victims of the earthquake in Haiti. Joining the XX25 and XX55 systems in UltraCell's product family, the company will soon announce availability of its 3-Up recharger system, specially designed to charge and recharge military electronic equipment in the field.
Orders for the system have been placed and units are expected to be delivered within the next month. Based on successful field trials with the U.S. Air Force, UltraCell announced in December that it had won a highly competitive bid for the "50W Soldier Portable Fuel Cell System" program, created by the U.S. Department of the Air Force through the American Recovery and Reinvestment Act of 2009 to support the design and development of reliable, efficient portable fuel cells for dismounted warfighters. The $3 million federal stimulus funds were awarded by the Air Force Research Laboratory (AFRL) at Wright-Patterson Air Force Base, located outside of Dayton, Ohio, where in 2007 UltraCell opened its 30,000 square foot manufacturing facility.
UltraCell is the only portable fuel cell company of its kind to maintain an operational U.S. manufacturing plant and the company has received support and funding from the Ohio Third Frontier Fuel Cell Program in order to help grow efforts in Dayton. All interested parties should contact Keith Scott, CEO. About UltraCell UltraCell is a leading producer of fuel cell systems for mobile devices. The company has developed new micro fuel cell technologies and intellectual property in the field of methanol-based fuel cells. Its patented, award-winning portable fuel cell, the XX25(TM), achieved Technology Readiness Level (TRL) 7 status, a significant U.S. Army milestone and certification for military use and commercial production. For more information about UltraCell, please visit http://www.ultracellpower.com/.
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