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Sumitomo Corporation and Acumentrics last year formed Acumentrics Japan Corporation. The purpose of Acumentrics Japan is to market and sell Acumentrics' proprietary tubular solid oxide fuel cell power systems throughout Japan. The Nippon Steel Corporation is also now a shareholder in Acumentrics-Japan and will provide the facilities and conduct the testing in Japan of the Acumentrics systems.
Acumentrics, Sumitomo and Nippon Steel will initially concentrate on modifying Acumentricsí prototype natural gas powered, rapid-start tubular solid oxide fuel cell "T-SOFCís" for the Japanese market, initially targeting 2-10 kilowatt small commercial applications and later expanding to the 20, 50 and 100 kilowatt sizes. Acumentrics will be solely responsible for SOFC technology while Sumitomo will be responsible for market requirements and actual marketing of the fuel cell products.
Acumentrics Japan and Nippon Steel last June 2004 were one of four groups to be awarded a multi year grant of $10,000,000 by the New Energy and Industrial Development Organization (NEDO) of Japan. Nippon Steel will match the NEDO grant in kind and the group will seek other Japanese investors to further fund the Acumentrics-Japan venture. The Acumentrics' systems were highlighted in the Sumitomo exhibit at the FC EXPO 2005 which was held this month in Tokyo.
"Acumentrics is privileged to have partners like Sumitomo and Nippon Steel. Their enormous expertise and resources in designing, integrating and distributing leading-edge technology products throughout Japan and Asia will be a great asset to Acumentrics-Japan and Acumentrics. Acumentrics Japan is a good example of the kind of international cooperation that will help bring fuel cell products to the consumer in the near future. The benefits of this program will carry over to all our customers around the world." said Gary Simon, President & CEO of Acumentrics Corporation.
About Acumentrics: Acumentrics Corporation, a privately owned company founded in 1994 and based in Westwood, Massachusetts. It is a leading solid oxide fuel cell developer of 1 to 10 kilowatt residential, commercial, and industrial distributed electricity and heat generation products. Acumentricsí unique and patented high temperature tubular solid oxide fuel cell generation units are designed to run directly from natural gas, propane and other hydrocarbon fuels (such as coal-derived light hydrocarbon fuels) at standard delivery pressures. This unique and distinguishing feature is based on a highly simplified in-tube fuel reforming method that negates the need for complex external or co-packaged high-cost reformation systems. Acumentricsí fuel cells produce essentially zero harmful emissions, noise or vibration, and are being designed for outdoor long-term continuous duty as well as cyclical use. Acumentrics investors and distribution partners include ChevronTexaco (NYSE:CVX), Northeast Utilities (NYSE:NU), General Dynamics (NYSE:GD), NiSource (NYSE:NI), and Sumitomo (TSE: 8053, OTC:SSUMY), Connecticutís Clean Energy Fund, and the Massachusetts Technology Collaborative.
Acumentrics is one of only six companies in the United States to be awarded and begin work under the U.S. Department of Energy's National Energy Technology Laboratory SECA (Solid State Energy Conversion Alliance ) industry program. Acumentrics received a $74,000,000 cost share grant to reduce the cost of its proprietary anode supported Tubular Solid Oxide Fuel Cell ìT-SOFCî technology. Advancements made by Acumentrics under the SECA program are included in the 5 kWatt SOFC system built for Sumitomo and Nippon Steel. This technology has been demonstrated to offer significant advantages over flat plate and cathode supported solid oxide fuel cells with regard to sealing and rapid start. The program is scheduled for 9 years, targets small-scale 3-10 kilowatt units and has a manufacturing cost target of $400 per kilowatt at completion. More information on the SECA program can be found on their website http://www.seca.doe.gov.
Acumentrics also manufactures a line of battery based uninterruptible power supplies that are designed to enhance power quality. These products are unique in their ability to be deployed in harsh physical and electrical environments and are used extensively for various military and heavy-duty industrial applications.
More information about the company can be found on its website: www.acumentrics.com
For further information, please contact:
Thomas W. Philbin, Ph. D.
Senior Vice President
781-461-8251 x 350
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