Alchemy's technology was positively received by the fuel cell community and ideas on interface technology between systems were exchanged. As a result of these exchanges, Alchemy will be moving toward a number of joint ventures. Read stated, "The advancements in the fuel cell technologies are extraordinary and will enhance in every way our Hydratus(C) system, and will result in potentially broad applications for our system." Mr. Read went on to say, "Fuel cell developers and manufacturers were excited to learn of our advancements and the alternative it presents to compressed hydrogen."

About Alchemy Enterprises, Ltd.

Alchemy Enterprises, Ltd. is a development stage company seeking to design and license a cost and energy-efficient electric power system technology called the Hydratus(C) for use in motorized vehicles and industrial equipment and the storage of energy generated from other sources such as wind and solar energy. The Hydratus(C) creates hydrogen on demand which, when used in conjunction with existing hydrogen fuel cell technology, creates an electric power system that operates without combustion and without the need for stored hydrogen (which is usually highly compressed, difficult to transport, store and transfer, expensive to produce and dangerous). Alchemy has entered into a partnership (known as a task plan) with Jet Propulsion Laboratory (JPL) to develop, build and patent our prototype 100 kilowatts Hydratus(C). JPL is a federally funded research and development center sponsored by the National Aeronautics and Space Administration ("NASA") and is operated by California Institute of Technology (Caltech).