"We are extremely pleased that John has accepted a position on FCT's Board. We will benefit both from his experience and his contacts in the financial community", said John Stannard, FCT's President and CEO.

Mr. Varghese is currently a Managing Director of Skylon Advisors Inc., a wholly-owned subsidiary of CI Mutual Funds Inc. His professional experience ranges from venture capital and investment banking to senior management and board of director roles in various industries. He has held COO and CFO positions at start-up organizations, as well as senior management roles within multi-national corporations including Royal Bank Capital Corporation, Midland Walwyn Capital Inc. (Merrill Lynch Canada), Dell Computer Corporation and Jim Pattison Industries Ltd.

Mr. Varghese brings the number of Board members to six, of which four directors qualify as independent directors.

Over the past decade, FCT has designed and built custom fuel cell power systems. Fuel cell systems are the future of power generation because of their environmental benefits and high efficiency. FCT's 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, commercial, industrial and residential applications. In 2005 FCT commenced production of its 5kW SOFC systems and is now delivering systems to customers around the world.

For further information

    Vikram Varma, Director, Corporate Development, Vvarma@fct.ca, (613) 541-6109, Fax: (613) 544-2649
    J. Christopher McFarlane, Chief Financial Officer, cmcfarlane@fct.ca, (613) 541-6125