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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Polyfuel Regs | LSE:PYF | London | Ordinary Share | COM SHS USD0.001 (REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
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0 | 0 | N/A | 0 |
TIDMPYF RNS Number : 9054S PolyFuel Inc. 28 May 2009 28 May 2009 PolyFuel, Inc. Further $2.5m development funding from US Department of Energy PolyFuel, Inc (AIM: PYF), a world leader in fuel cell technology and engineered fuel cell membranes for the portable electronics industry, is pleased to announce that the US Department of Energy has awarded the Company a further $2.5m in funding for its portable fuel cell development programme. The new award follows on from two previous DOE program awards, the most recent, also for a sum of $2.5 million, which was announced last month. It provides continued funding for the new program, outlined in PolyFuel's announcement of 17 April, to advance portable fuel cell technology to meet the goals for performance, durability, and cost that the DOE has established for wide-scale commercial adoption of DMFC technology for use in laptops and other portable electronics devices. This further grant was won against strong competition, and its award was subject to a rigorous peer-review process by leaders in the industry, underlining the fact that PolyFuel continues to be recognized as a leader in the portable fuel cell field. In addition to this grant, PolyFuel is continuing to actively seek additional capital to complete its technology and product development, build out its manufacturing capability, and achieve commercial introduction of its products. PolyFuel president and CEO Jim Balcom said: "We are delighted with the DOE's continued backing of portable fuel cell technology in general and PolyFuel's technology in particular. This grant is a further affirmation of the importance that the DOE places on the development and commercialization of fuel cell technology and underlines PolyFuel's capability and leadership in its field." Ends For further information, please contact: +---------------------------------------------+--------------------------+ | PolyFuel, Inc | Tel: +1 650 429 4646 | +---------------------------------------------+--------------------------+ | Jim Balcom, Chief Executive Officer | | +---------------------------------------------+--------------------------+ | Hogarth Partnership Limited | Tel: +44 (0)20 7357 9477 | +---------------------------------------------+--------------------------+ | Nick Denton / Ian Payne | | +---------------------------------------------+--------------------------+ | KBC Peel Hunt (Nominated Adviser and | Tel: +44 (0)20 7418 8900 | | Broker) | | +---------------------------------------------+--------------------------+ | Jonathan Marren / David Anderson | | +---------------------------------------------+--------------------------+ This information is provided by RNS The company news service from the London Stock Exchange END MSCCKOKBPBKDNPB
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