American Security Resources Forms Fuel Cell Holding Company
Business Wire - September 13, 2005 11:51
HOUSTON, Sep 13, 2005 (BUSINESS WIRE) -- American Security Resources Corporation (OTCBB:ARSC) has launched Hydra Fuel Cell Corporation (Hydra), a Nevada corporation, to function as the holding company for ARSC's fuel cell operations. According to Joe Grace, President of ARSC, "Once we complete our audit and acquisition of our interest in EGO Design Inc., we want to be prepared to quickly take advantage of the many commercial and military applications for this self-contained modular energy source."
American Security Resources recently signed a Letter of Intent to acquire 49% of EGO Design which has developed proprietary, silicon-based, printed circuit board sized, hydrogen fuel cell technology, for which ARSC will have the exclusive licensing and marketing rights. The principals of EGO Design believe the 5KW to 40KW fixed power market niche could generate sales of $1 billion annually to the company within 8 years.
About American Security Resources Corporation
American Security Resources Corp. is a holding company actively seeking to acquire profitable, well-managed companies that provide products or services for homeland security or national defense. The company is currently in discussions to acquire several companies.
For more information, please see: www.americansecurityresources.com.
