Powerzinc Signed an Agreement with One of the Largest Automaker in China
to Jointly Develop E-bus Powered by its DQFC series Zinc-Air Fuel Cell

=== June 10, 2003 ===

Powerzinc announced today that it signed cooperation agreement with one of the largest automaker in China to jointly develop electric buses powered by its DQFC series zinc-air fuel cell. Under the agreement, the two companies will collaborate on custom designing and manufacturing a line of high performance, reliable and zero emission zinc-air fuel cell buses in Jiangsu province of China. The first model bus will be tested at National Electric Vehicle Test Center in City of Shantou, Guangdong, China. The two companies plan to establish a manufacturing facility in Jiangsu province with annual capacity of 200 units of all-electric buses in the first year.

China promised to host a ¡°Green Olympics¡± in 2008. It is estimated that approximately 3,000 zero emission buses will be needed to make Beijing¡¯s dream a reality. Powerzinc¡¯s zinc-air fuel cell has been the world¡¯s only commercialized fuel cell product. The world-class technology combined with the automaker¡¯s solid background in China¡¯s auto industry shall make this partnership a very competitive contender for the proposed zero emission vehicle project in Beijing.


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