Partnering Opportunities Stem From Demos and Presentations at Recent 2008 Fuel Cell Expo and at International Zinc Association Conference; ZPAC-40 Handheld Supplemental Power Pack for Portable Electronics and Zinc Powered Indoor Generator Attract Notable Attention and Interest From Show Attendees
Power Air Corporation (OTCBB: PWAC), the Zinc power company, today announced that the Company is actively engaged in discussions with a wide range of potential new strategic business partners following its participation in February at the 2008 International Hydrogen Fuel Cell Expo held in Tokyo, Japan and at the 2008 International Zinc Association Conference held in Scottsdale, Arizona.Together with its Korean partner, H-Plus Eco Ltd., a H-Plus Group subsidiary, Power Air exhibited prototype products based on its proprietary Zinc Air technology at the Fuel Cell Expo. A number of large industry players arranged for private meetings with Power Air senior officials at the industry event that has since led to the exploration of several new business relationships focused on joint development, manufacturing, marketing and distribution of Power Air's products.
On display at the Expo, Power Air showcased its Zinc Air Indoor Generator prototypes packaged as 10kWhr systems designed by H-Plus for the Asian markets. The Company also featured a new prototype for a 100W (1kWhr capable) suitcase-sized, portable, Zinc Air Fuel Cell (ZAFC) generator developed specifically for recreational, government and niche consumer market applications. The small size and weight of this new prototype captured considerable attention at the show.
However, it was Power Air's ZPAC-40 handheld Power Pack that was the true hit at the Expo. According to Al Sylwester, Vice President and Chief Technology Officer at Power Air, "The response from Expo attendees to our prototype products was overwhelmingly positive -- particularly for our novel supplemental Power Pack solution for portable electronics. As a result, early talks held at the show have quickly evolved into meaningful discussions with several interested partners on site at our headquarters in Livermore, California."
In addition, as a featured presenter at the International Zinc Association Conference in Scottsdale, Don Ceci, Vice President of Sales and Marketing at Power Air, offered Conference attendees insight and perspective into the Company's ZAFC product development efforts and commercialization strategy. In addition, Ceci conducted demonstrations of the Company's ZAFC-powered indoor generator and ZPAC-40 Power Packs for attendees, which included many of the largest zinc producers in the world. As a result of Ceci's participation, this event served to generate additional potential partnering opportunities that are currently being actively explored by Power Air's management team.
About Power Air Corporation
Headquartered in Livermore, California with offices and research facilities in Vancouver, Power Air is a forward-thinking clean energy company engaged in commercializing proprietary, high performance Zinc Air Fuel Cell (ZAFC)-based products for the mobile electronics, portable and stationary power generation, light mobility and transportation markets. Power Air holds the exclusive worldwide license for the development and commercialization of products utilizing ZAFC technology pioneered through an extensive joint collaboration effort with Lawrence Livermore National Laboratory and the United States Department of Energy. For more information, please visit www.poweraircorp.com.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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