Message #6 From:
NewsBot Date: December 21, 2006 12:33:00 PM
HYEG News CORRECTING and REPLACING Hydrogen Engine Center, Inc. Generator Set Featured in Wind-to-Hydrogen Demonstration Project
ALGONA, Iowa--(BUSINESS WIRE)--Telephone number in contact section should read 818-623-1000 (sted
818-623-1099).
The correctedrelease reads:
HYDROGEN ENGINE CENTER, INC. GENERATOR SET FEATURED IN
WIND-TO-HYDROGEN DEMONSTRATION PROJECT
50 Kilowatt Hydrogen-Fueled Generator Set Is Component in $2M Xcel
Energy and National Renewable Energy Laboratory Project
Ted Hollinger, Founder and President of Hydrogen Engine Center, Inc.
(HEC) (OTCBB:HYEG), participated in the dedication of a Wind-to-Hydrogen
Demonstration Project in Boulder, Colorado. Xcel Energy and the U.S.
National Renewable Energy Laboratory are co-sponsors of this project.
Also on hand were United States Senators Wayne Allard and Ken Salazar,
Congressman Mark Udall and Richard C. Kelly, Xcel Energy Chairman,
President and CEO.
Hydrogen Engine Center’s participation in the
study will help prove the viability of wind energy conversion to
hydrogen power and the practicality of using HEC’s
internal combustion engines and power generation equipment. HEC products
are being designed to extend the value and reach of wind-produced
energy, delivering zero-emission and renewable power to customers.
Relying on the HEC 50kw hydrogen-powered generator set, when slack wind
conditions are present, hydrogen will be used to generate power to the
electric grid.
Hollinger commented, “As one of the key
components in the demonstration project, the HEC engine and generator
technologies foster a reduction in fossil fuel usage to generate
electric power, in turn reducing operating costs and green-house gas
emissions.”
“Until recently, wind energy had to be used
immediately,” noted Richard Kelly. “The
Hydrogen Engine Center helps solve this problem by taking wind energy,
which can now be converted and stored as hydrogen, through its engine
technology to the electrical grid, ultimately powering homes and
businesses.”
According to an October 2006 release by the American Wind Energy
Association, the U.S. wind energy industry is on track to install a
record 2,750 megawatts (mw) of generating capacity in 2006, which will
produce about as much electricity as is used by the entire state of
Rhode Island. Earlier this year, March forecasts by Red Herring
indicated wind power installations were expected to expand worldwide
from $11.8 billion USD in 2005 to $48.5 billion USD by 2015.
“Not only is this a great opportunity to show
how our generator sets complete the wind-to-hydrogen energy production
circuit,” said Hollinger, “but
it allows us to prove the value of our technology as it applies to the
growing wind energy marketplace.”
This project is an example of how Hydrogen Engine Center is delivering
technology that is part of the solution for an immediate future that is
oil independent, free of greenhouse gasses and rich in low-cost energy.
Hydrogen Engine Center, Inc. (HEC) designs, manufactures and
distributes alternative-fueled internal combustion engines and power
generation equipment for distributed power, agricultural, industrial,
airport ground support, vehicular, business and home applications. All
HEC engines and gensets are capable of running on a multitude of fuels,
including but not limited to, hydrogen, gasoline, propane, natural gas
and ethanol. Development of an ammonia-fueled engine is underway. HEC
trades on the Bulletin Board under the symbol “HYEG.OB.”
Principal offices are located at 2502 E Poplar St., Algona, Iowa 50511.
Visit www.hydrogenenginecenter.com
or in the US dial 515-295-3178 for more information.
This press release may contain certain 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. Investors are cautioned that such forward-looking statements
involve risks and uncertainties, including without limitation,
acceptance of the Company's products, increased levels of competition
for the Company, new products and technological changes, the Company's
dependence on third-party suppliers, and other risks detailed from time
to time in the Company's periodic reports filed with the Securities and
Exchange Commission.
Image Available of Executives from NREL, Xcel Energy & Hydrogen
Engine Center