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The proceeds from the exercise of these compensation options will be used in the same manner as the funds raised from the 2002 private placement financing of Common Shares; namely to fund commercialization initiatives such as further product development, production expansion, marketing, and general working capital requirements.
FCT is a leading developer and producer of small to medium scale fuel cell power systems, with experience from successful installations around the world. Fuel cells are the future of power generation because of their environmental benefits and high efficiency. Certain types of fuel cells can operate on a variety fuels, including fossil fuels, renewable fuels such as methanol and ethanol, and hydrogen, facilitating a transition between fossil fuels and hydrogen. FCT's solid oxide fuel cells (SOFCs) are designed to operate on a variety of readily available fuels and provide a highly efficient, environmentally friendly method to produce on-site electricity and heat that can be used in a variety of remote, residential, commercial and industrial applications.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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