Digital Gas, Inc.(fka DIGGQ)

[Buckey]

2006-09-21 09:16 ET - News Release



NEW YORK -- (Business Wire) -- Sept. 21, 2006

Digital Gas, Inc. (OTC Pink Sheets:DIGG) announced that
Digital Ultracap has accepted an invitation from its partner ICCU
Holding B.V. to participate in the first of several major energy
centers in Europe. ICCU is considering projects in several areas
including Germany, Poland, Portugal and Bulgaria. The projects are
eligible for World Bank funding and in fact the first selected
location has been pre-approved for funding. ICCU, which has already
decided on the first site, will make that announcement next month.
¶ The energy centers will contain a manufacturing complex for
"intelligent ultracapacitors" and solar panels made of polycrystalline
silicon to be manufactured for the European market and a bio-ethanol
facility. With Digital Ultracap now involved in the project, ICCU has
agreed to the expansion of the complex to include a Digital Gas energy
& farming center which will process local waste and provide food and
pharmaceutical products for European distribution. Other products and
technologies of Digital Gas will be incorporated into the project to
enhance profitability.
¶ The projects in any of the above countries can be executed
completely within 3 years of the start of facility construction and
will provide up to 1,500 jobs for the local communities that sponsor
them. Each project will have income within 18 months of start-up.
¶ BMW, Porsche and VW concluded a collaboration contract for the
development of hybrid drives. One of the considerations in locating
the first plant will be to be in proximity to large corporate
customers in the automotive and other industries.
¶ Ultracapacitors are anticipated to have a major role in the
automotive industry. In vehicles with conventional electric and hybrid
drives ultracapacitors will enable a more rapid acceleration and
higher scope, and they have a much longer life than conventional
battery systems. Furthermore, ultracapacitors can store the energy
available for braking or down hill rides directly as electric energy,
whereas conventional batteries would be overcharged through the
present high charging currents. Through the use of ultracapacitor
technology in the automobile industry, thousands of new jobs will be
created on a worldwide basis.
¶ The first five products to be marketed will be: 1. a hybrid system
for storing and balancing generated power (PV, Wind, and Fuel Cell);
2. a system for truck and automotive cold weather starts that will
improve performance in parallel with existing batteries; 3.
uninterrupted power supply systems for grid connected end users; 4.
power balancing and backup systems for hospitals, offices,
data-hotels, telecom, high-end power users and others; and 5. a system
for improving the quality of grid supplied power (frequency, voltage,
et cetera).
¶ This ultracap is better then other products and systems on the
market: because: 1. it is faster in storing and supplying power; 2.
the capacity per weight and volume as well as the efficiency is higher
than any other competitive product currently on the market; 3. all
other capacitors are cylindrical and consume more valuable space per
volume than our stretched-type ultracap; 4. the weight per volume is
less than the competition.
¶ In light of the above deal in Europe and to facilitate senior
funding of its subsidiaries, the management of Digital Gas has agreed
to form a holding company which will own the following subsidiaries:
Digital Ultracap, Digital Sofcell, Synfuel, Digital Electric and a
company to be formed which will be comprised of an aggregate business
with significant cash contracts. Digital Gas will retain control of
the holding company on a "post financing" basis and plans to
distribute shares in the holding company to then present shareholders
so that stock dividends can be paid if and when a decision is made by
the holding company to either go public on a senior exchange or
spinout its subsidiaries.
Contacts:

Digital Gas, Inc.
Brian Smith, 732-927-4073
Source: Digital Gas, Inc.