(COMTEX) B: RHOMBIC CORP - Program To Further Develop Its Patented Di
B: RHOMBIC CORP - Program To Further Develop Its Patented Diamond Material -
For Fuel Cell Application
New York, New York, Feb 28, 2001 (Market News Publishing via COMTEX) -- Rhombic
Corporation announced that it plans to commence in March 2001, a development
program of its revolutionary diamond material and diamond electrolyte membrane
This groundbreaking technology will potentially replace the polymer electrolyte
membrane, a key component of current fuel cells. In addition this program will
further the creation of the Rhombic Nanotube hydrogen storage vessel. These two
technologies will form integral components of the Rhombic diamond fuel cell
Management anticipates that a diamond electrolyte membrane (DEM) will be
completed in Columbia, Missouri during the third quarter of this year. Rhombic's
efforts during the next 18 months will be focused on developing its proprietary
DEM fuel cell system.
The diamond fuel cell system with all of its proprietary components is designed
to offer inherent advantages over current PEM fuel cell stacked systems.
Important advantages include dramatic cost reductions, increased life span,
weight and size reduction, permitting widespread replacement of internal
combustion engines for transportation, power generation and other applications.
In the Freedonia Industrial study (May 2000) it is projected that the US market
for fuel cells and related products will rise better than four fold through 2004
to $2.4 billion of which $1.2 billion represents fuel cell stacked systems.
Robin Griffiths, chief technical analyst of HSBC Securities Inc. in New York
indicates he is "incredibly bullish" on the fuel cell sector (Globe and Mail,
After a thorough investigation of its technologies, Rhombic has completed its
business plan for 2001. Information on the DEM Fuel Cell Project and other
exciting Rhombic technologies will be available shortly on the Company's updated
Management in an effort to increase and maintain current and future shareholder
investor relationships, has appointed with immediate effect Strategic
Initiatives, represented by Mr. Charles Fabiano with a background in chemical
engineering and customer service under SEC guidelines.
Rhombic trades on the Frankfurt Stock Exchange and the Hamburg Stock Exchange
under the symbol "919335" and on the OTC Bulletin Board under the symbol "NUKE".
Forward Looking Statements. This Release contains forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
forward-looking statements are inherently uncertain as they are based on current
expectations and assumptions concerning future events or future performance of
the Company. Readers are cautioned not to place undue reliance on these
forward-looking statements, which are only predictions and speak only as of the
date hereof. Forward-looking statements usually contain the words "estimate,"
"anticipate," "believe," "plan," "expect," or similar expressions, and are
subject to numerous known and unknown risks and uncertainties. In evaluating
such statements, prospective investors should review carefully various risks and
uncertainties identified in this Release, including the above matters and in the
Company's SEC filings. These risks and uncertainties could cause the Company's
actual results to differ materially from those indicated in the forward-looking
CONTACT: TEL: 602.953.7702 RHOMBIC Corporation
TEL: 480/497-6189 Strategic Initiatives, Charles Fabiano
INET : http://www.rhombic.com
MarketbyFax(tm) - To get the NEWS as it happens, call (604) 689-3041.
(C) 2001 Market News Publishing Inc.
KEYWORD: New York, New York
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