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Here is your answer..CORNELL...Astris Energi Closes US$1.5 Million Private Financing for Its Fuel Cell Business
Wednesday April 12, 8:30 am ET
MISSISSAUGA, Ontario, April 12, 2006 (PRIMEZONE) -- Astris Energi Inc. (OTC BB:ASRNF.OB - News) (the ``Company'') announced today the completion of a US$1.5 million private placement with Cornell Capital Partners, LP (``Cornell'').
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The financing consists of a US$1.5 million of secured convertible debentures (the ``Debentures'') with a 10% coupon. The Debentures will mature on April 9, 2009. In connection with the transaction, the Company issued to Cornell 1,600,000 warrants exercisable at US$0.19, 600,000 warrants exercisable at US$0.20 and 1,000,000 warrants exercisable at US$0.30, all of which expire in three years. US$750,000 was paid upon closing and the remaining US$750,000 will be paid prior to the Company filing a registration statement with the Securities and Exchange Commission. Ardour Capital Investments LLC acted as placement agent.
The proceeds will be used for operation of the Company's pilot fuel cell production line, marketing initiatives, supporting the Company's patent initiatives and for general corporate purposes.
Debt holders from a prior Astris financing have converted CDN$130,000 worth of debentures on the same terms as the Cornell financing.
``I am pleased to announce this institutional financing,'' said Jiri Nor, President and CEO. ``We are actively pursuing several key market channels and strategic partners for the commercialization of our line of cost effective alkaline fuel cell generators. We believe that this financing will facilitate these efforts.''
About Astris Energi Inc.
Astris is committed to becoming a leading provider of affordable stationary and motive power fuel cells and components. Additional information is available at the company's website: http://www.astris.ca.
The Astris Energi Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2132
About Cornell Capital Partners LP
Launched in 2001, Cornell Capital has committed over $1 billon in capital to over 150 companies listed in the U.S., U.K., Australia, Germany, Singapore and Canada. Cornell Capital Partners provides innovative financing solutions to growing companies in the small-cap sector, worldwide. For more information please visit: http://www.cornellcapital.com
Forward-Looking Statements
Any statements in this release that are not statements of fact may be considered ``forward looking statements'' as that term is defined under securities laws in the United States and Canada. Forward-looking statements are only predictions and may differ materially from actual events or results.
Contact:
Astris Energi Inc.
Anthony Durkacz, VP of Finance
(905) 608-2000
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Astris Energi Expands Its Line of Battery and Fuel Cell Test Products
Wednesday June 21, 11:12 am ET
MISSISSAUGA, Ontario, June 21, 2006 (PRIMEZONE) -- Astris Energi Inc. (OTC BB:ASRNF.OB - News) has announced the launch of a new product, model TL6 Battery and Fuel Cell Test Load, as a compliment to the existing line of test equipment for fuel cells and batteries. Around the world companies and institutions that produce and develop fuel cells and batteries have a continued requirement for high quality test load equipment that simplifies their everyday testing and quality control operations. The new TL6 allows larger batteries and fuel cells to be tested and evaluated.
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``We are excited to be able to offer this addition to our family of test products in response to customer requests for a larger test load,'' said Peter Nor, Vice President Marketing and Corporate Development of Astris Energi. ``The new TL6 will integrate seamlessly into test facilities using Astris' TESTMASTER(tm) Control and Data Acquisition Suite as well as offering an inexpensive bench top solution for customers with smaller test labs.''
The model TL5 test load with 100 W rating has been sold to customers around the world to test individual cells and small fuel cell stacks. The new TL6 is an air cooled passive electronic test load with built-in microprocessor intelligence, can dissipate up to 1 kW of power, can handle voltages up to 200 V and currents up to 200 A, and is suitable for testing larger stacks and batteries. As a member of the Astris TL family, the instrument can operate autonomously under manual control or can be used in larger installations as a series of test loads connected to a single data acquisition and control computer, running the Astris TESTMASTER(tm) software suite. The ``resistance free'' diagnostic method pioneered by Astris allows reading of the internal electrochemical potentials, offering further insight into the state of health of the fuel cell or battery on test. TL6 has inputs for additional temperature sensors and an expansion port, allowing for collection of additional test data when testing more complex devices. Together with the updated TESTMASTER(tm) program TL6 goes another step forward in expanded performance and functionality.
About Astris Energi Inc.
Astris is committed to becoming a leading provider of affordable stationary and motive power fuel cells and components. Additional information is also available at the company's website at http://www.astris.ca.
The Astris Energi Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2132
Forward-Looking Statements
Any statements in this release that are not statements of fact may be considered ``forward-looking statements'' as that term is defined under securities laws in the United States and Canada. Forward-looking statements are only predictions and may differ materially from actual events or results.
Contact:
Astris Energi Inc.
Peter Nor, VP of Marketing and Corporate Development
905-608-2000
www.astris.ca
Astris Energi Discovery Leads to Longer Life, Better Performance of Fuel Cells
Thursday June 1, 9:20 am ET
MISSISSAUGA, Ontario, June 1, 2006 (PRIMEZONE) -- Astris Energi Inc. (OTC BB:ASRNF.OB - News) reported that its program of fuel cell improvement, initiated 18 months ago in connection with technology transfer from the R & D lab to the factory floor, yielded a major breakthrough in terms of electrode quality, reflected in increased power and longer life of its fuel cell. An increase in fuel cell life, from 2000 operating hours to 5000 hours, is seen as a critical step which will open doors, for example, to applications of inexpensive alkaline fuel cells in automobiles.
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The breakthrough came as a result of the work of material scientists in Astris' laboratories in Vlasim, Czech Republic. Fuel cell performance typically declines over the useful life of the fuel cell, just like the performance of a battery. In low temperature fuel cells, this gradual decline typically limits the useful life up to a couple of thousand hours. In competitive products that depend on platinum as the catalyst, this catalyst in itself is the cause of the gradual decline. The mechanisms of performance decline in Astris cells, which do not use platinum catalyst, have not been fully understood thus far. The science team focused on the study of all the materials used in Astris electrodes and on their composition.
A novel, inexpensive material, a form of carbon that is stabilized by heat treatment, provided the answer. Several specimens have shown stable performance in test cells, in the demanding on-off test regime. Fuel cells incorporating this new composition in their electrodes are undergoing long term tests at Astris' Mississauga facility.
``Compliments to both our teams in the Czech Republic and Canada. Year and a half of concentrated effort, and eventually you score a big one,'' said Jiri Nor, CEO and President of Astris Energi. ``This breakthrough could be the catalyst to open up new multi-billion dollar markets for us.''
About Astris Energi Inc.
Astris is committed to becoming a leading provider of affordable stationary and motive power fuel cells and components. Additional information is also available at the company's website at http://www.astris.ca.
The Astris Energi Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2132
Forward-Looking Statements
Any statements in this release that are not statements of fact may be considered ``forward looking statements'' as that term is defined under securities laws in the United States and Canada. Forward-looking statements are only predictions and may differ materially from actual events or results.
Contact:
Astris Energi Inc.
Peter Nor, VP of Marketing and Corporate Development
(905) 608-2000
www.astris.ca
I guess no one is interested in this stock!
OK! Let's get this stock up and going, and MM's please leave the stock alone.
Very interesting company with great managment, and a SUPER hot sector.. i own a few other stocks that are much higher priced from same sector. i started to take a position today and will be steadily adding over in near term....
Astris Energi VP Finance Webcast
with www.TheGreenbaron.Com Now Available
Monday August 8, 1:40 pm ET
MISSISSAUGA, Ontario, Aug. 8, 2005 (PRIMEZONE) -- Astris Energi Inc. (OTC BB:ASRNF.OB - News), the world's leading alkaline fuel cell (AFC) technology company, announced today that Anthony Durkacz, VP of Finance of Astris Energi Inc., has conducted an exclusive webcast interview with the Green Baron so that ASRNF shareholders and the investment community can learn more about the current and future prospects of the company. The webcast was conducted by Evergreen Marketing Inc. and their subsidiary thegreenbaron.com and is now available for listening on The Green Baron Investors Society's Web site at http://www.thegreenbaron.com.
About Astris Energi Inc.
Astris is a late-stage development company committed to becoming the leading provider of affordable fuel cells and fuel cell generators internationally. Astris is commencing pilot production of its POWERSTACK(tm) MC250 technology in 2005. Astris is the only publicly traded company in North America focused exclusively on the, economically more favourable, alkaline fuel cell. Additional information is also available at the company's Web site at http://www.astris.ca.
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