PYF Polyfuel Regs

RNS Number:3458W
PolyFuel Inc.
10 May 2007

                   


POLYFUEL RECEIVES $2m PORTABLE FUEL CELL DEVELOPMENT FUNDING FROM US DEPARTMENT
                                   OF ENERGY


Polyfuel, Inc. (AIM:PYF), a world leader in the development of engineered
membranes for portable fuel cells, is pleased to announce that Congress and the
US Department of Energy (DOE) have restored $2 million in programme funding to
the Company. The three year, $3 million grant, originally awarded in late 2004,
had been temporarily suspended in early 2006 due to US budgetary constraints
after approximately $1 million had been funded. The programme is designed to
encourage the development of next-generation mobile fuel cell power supplies.


PolyFuel has been included in the programme not only for its acknowledged
breakthroughs in fuel cell membranes, but for its significant fuel cell system
engineering capabilities, which it uses to assist its customers in their
development and optimization of fuel cell components and systems. PolyFuel
believes that its hydrocarbon-based membranes, which are increasingly replacing
older membrane technologies in fuel cell development efforts around the world,
will be a critical component in the resolution of the "runtime gap" - the
difference between the burgeoning power needs of mobile devices and the ultimate
ability of batteries to provide for them.


PolyFuel president and CEO Jim Balcom said, "We are delighted with the DOE's
renewed backing of portable fuel cell technology, supporting its belief that
portable electronics will be one of the earliest commercial applications for
fuel cells, and that its adoption will help catalyse the commercialisation of
fuel cell technology in the automotive and stationary power markets.
Furthermore, we are encouraged by the DOE's endorsement of PolyFuel's membrane
technology and fuel cell engineering capability as key factors in helping make
this happen."


                                     -Ends-


For further information please contact:

PolyFuel, Inc                                     Tel: +1 650 429 4646
Jim Balcom, Chief Executive Officer
Mark Campion, Chief Financial Officer

Hogarth Partnership Limited                       Tel: +44 (0)20 7357 9477
Nick Denton / Sarah MacLeod / Ian Payne

Collins Stewart Europe Limited                    Tel: +44 (0)20 7523 8000
Mark Connelly



Notes to Editors:


About the DOE Programme


The DOE has identified fuel cell technology as one of the key solutions to U.S.
dependence on foreign oil, and to reducing America's "carbon footprint". In
addition, fuel cells address the issue of "sustainable mobility" - the ability
to power not only automobiles, but also mobile electronic devices, such as
laptop computers, smart phones, PDAs, and cell phones - indefinitely. Because of
a growing "runtime gap" - the difference between the burgeoning power needs of
mobile devices and the ultimate ability of batteries to provide for them - the
DOE believes that a commercial fuel cell market will emerge first in portable
electronics, which will then "catalyse" the adoption of fuel cell technology in
the automotive and stationary power markets.


The DOE programme is underwriting the development of complete fuel cell systems
that include stacks of "membrane electrode assemblies" (MEAs), fuel and air
delivery, thermal management, voltage and current regulation, and acceptable -
even pin compatible - form factors with the battery systems that are being
replaced. Its goal is to encourage the development of working "Direct Methanol
Fuel Cell" (DMFC) power supplies that can replace the battery pack in mobile
devices where extended runtimes are desired. The DOE envisions that fuel cells -
which conceivably could run for 8 hours or more on a single "hot-swappable"
cartridge of liquid fuel - can effectively eliminate the "runtime gap".


About PolyFuel


PolyFuel (www.polyfuel.com) is a world leader in engineered membranes that
provide significantly improved performance in direct methanol fuel cells (DMFC)
and hydrogen fuel cells, particularly for portable electronic and automotive
applications. The state of the art of fuel cells is essentially that of the
membrane, and PolyFuel believes that its advanced, hydrocarbon-based membranes
will 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 a world class 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 over 150 combined
years of fuel cell experience, world-class polymer nano-architects, and a
fundamental patent position covering more than 23 different inventions - also
makes PolyFuel a key development partner and supplier to any company seeking to
advance the state of the art in fuel cells. Polymer electrolyte fuel cells built
with PolyFuel membranes can be smaller, lighter, longer-running, more efficient,
less expensive and more robust than those made with other membrane materials.


PolyFuel is working with most of the world's leading portable fuel cell system
developers, the majority of whom are household brand name consumer electronics
manufacturers. Several of the largest Japanese and Korean consumer electronics
companies rank PolyFuel's membrane as the best portable fuel cell membrane
available in the world today.


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 stock
exchange in London.


This news release may contain forward-looking statements, including with respect
to the development of the fuel cell market. Readers are cautioned that such
forward-looking statements involve risks and uncertainties, including, without
limitation, risks inherent in the development and commercialization of potential
products. Actual results may differ materially from the results anticipated in
these forward-looking statements.







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

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