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(BSNS WIRE) Rhombic Announces $2.5 Million

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Wise Investment Member Level  Monday, 03/12/01 11:51:31 AM
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(BSNS WIRE) Rhombic Announces $2.5 Million Funding to Further Develop Its P
Rhombic Announces $2.5 Million Funding to Further Develop Its Patented Diamond
Material for Fuel Cell Application


Business Editors

PHOENIX--(BUSINESS WIRE)--March 12, 2001--Rhombic Corporation
(OTCBB:NUKE) announced today that it has secured a $2.5 million
Convertible Debenture.
Roger Duffield, the Company's President stated "this funding,
which will be received over a period of time, should enable the
company to develop its revolutionary diamond material for fuel cell
application." He went on to say "this work, which will commence in
Columbia, Missouri within one month, will be focused in two specific
areas involving the proton polymer exchange membrane (PPEM) fuel cells
used in portable, stationary and transportation applications and the
development of carbon nanotubes for the storage of a clean hydrogen
fuel."
The company believes that before the end of 2001, it will be
uniquely positioned to demonstrate proton diamond exchange membrane
(PDEM) that potentially will offer inherent cost and life span
advantages over the current perfluorinated membrane. With such reduced
manufacturing costs the fuel cell industry will then be poised to
offer a competitive replacement energy source to the internal
combustion engine.
Nanotubes are ideal candidates for hydrogen adsorption, including
hydrogen storage for sustainable energy supplies. While remaining a
clean and safe fuel, the commercial storage of hydrogen remains an
unsolved problem that has currently directed the fuel cell industry to
seek alternative fuel sources such as methanol.
Rhombic has achieved a break through by growing nanotubes using
chemical vapor deposition without the need for a catalyst. The company
expects to be in a position to demonstrate large-scale nanotube
production within eighteen months.
Dupont (NYSE:DD), a company actively involved in the fuel cell
industry, have recently reported what they believe to be a $10 billion
total market for fuel cells by the year 2010.
(www.dupont.com/automotive/news/00pr/fuel.html)
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 statements.

For further information contact Strategic Initiatives at
480/497-6189 or e-mail cfabiano1@home.com or visit our web site at
www.rhombic.com, or ceocast.com for latest interview.

--30--MRO/se*

CONTACT: Strategic Initiatives
Charles Fabiano, 480/497-6189
cfabiano1@home.com
www.rhombic.com

KEYWORD: ARIZONA MISSOURI GERMANY INTERNATIONAL EUROPE
INDUSTRY KEYWORD: CHEMICALS/PLASTICS MINING/METALS
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: http://www.businesswire.com




*** end of story ***




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