AGM Statement

    RNS Number : 4396X
  PolyFuel Inc.
  25 June 2008
   

    





    June 25, 2008
    PolyFuel, Inc.

    AGM Statement

    At today's AGM of PolyFuel, Inc. (AIM:PYF), a world leader in fuel cell technology, particularly engineered membranes for the portable
electronic and automotive industries, Jim Balcom, President and CEO will state: 

    "We are making good progress towards the development of a reference design for a compact fuel cell power supply for a notebook PC. The
Company's next short term goal will be to complete a functioning prototype of the design to be shared with battery and notebook PC OEMs, the
majority of which have already expressed strong interest in this reference design technology. PolyFuel intends to work with these current
and potential customers to seek to introduce the fuel cell technology, designed to outperform Lithium-ion battery packs, into the high
growth, 100+ million unit per year notebook PC market. We are also working with our channel partner Johnson Matthey Fuel Cells on a higher
performance membrane which should further increase PolyFuel's share of the market for fuel cell membranes."

     "With market demand continuing to grow for longer runtime portable power sources, we believe PolyFuel remains well positioned to be the
leader in providing the industry with the products, tools and designs to commercialise portable fuel cell technology."

    -Ends-

    For further information please contact:

 PolyFuel, Inc                                 Tel: [phone]
 Jim Balcom, Chief Executive Officer
 Tom Caldwell, CFO
                                               Tel: [phone]
 Hogarth Partnership Limited
 Nick Denton / Sarah MacLeod / Ian Payne

 KBC Peel Hunt (Nominated Adviser and Broker)  Tel: [phone]
 Jonathan Marren / David Anderson

    About PolyFuel:

    PolyFuel (www.polyfuel.com) is a world leader in fuel cell technology, particularly engineered membranes, that provides significantly
improved performance in both direct methanol and hydrogen fuel cells, especially for portable electronic and automotive applications. The
state of the art in fuel cells is closely tied to the membrane, and PolyFuel's best in class, hydrocarbon-based membranes enable a new
generation of fuel cells that for the first time can deliver on the long-awaited promise of clean, long-running, and cost-effective portable
power.

    PolyFuel has an unmatched capability to rapidly translate the system-level requirements of fuel cell designers and manufacturers into
engineered polymer nano-architectures. Such capability - based on PolyFuel's more than 150 combined years of fuel cell experience,
world-class polymer nano-architects, and a fundamental patent position covering more than 25 different inventions - also makes PolyFuel an
essential development partner and supplier to any company seeking to advance the state of the art in fuel cells. Fuel cells built with
PolyFuel's hydrocarbon membranes, as the Company's own performance-leading reference designs have demonstrated, can be smaller, lighter,
longer-running, more efficient, less expensive and more robust than those made with other membrane materials.

    PolyFuel is working with many of the world's most advanced portable fuel cell system developers, the majority of whom are household
brand name consumer electronics manufacturers. Leading Japanese and Korean consumer electronics companies rank PolyFuel's hydrocarbon
membrane as the best portable fuel cell membrane available in the world today, and its DMFC stack and system technology, which it readily
shares with its customers, is unsurpassed. 

    PolyFuel was spun out of SRI International (formerly the Stanford Research Institute) in 1999, after 14 years of applied membrane
research. The company is based in Mountain View, California, and is publicly listed on the AIM market of the London Stock Exchange.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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