Message #9 From:
NewsBot Date: August 30, 2006 05:00:00 AM
PWAC News Power Air Corporation Receives Strong Upgrade by Respected Research Firm; Management Prepares for Global Commercialization of Cutting-Edge Emission Free Zinc Air Fuel Cell
LIVERMORE, Calif.--(BUSINESS WIRE)--Aug. 30, 2006--Power Air Corporation (OTC BB: PWAC) is pleased to announce a well-respected firm, TRI-STATE Capital (TSC), has upgraded their equity rating on PWAC. This strong upgrade comes at a time when the company has partnered with Schrader Bridgeport International to commercialize a zero emission, back-up power generator suitable for indoor and outdoor use. This upgrade is also due to the increased interest in metal-air fuel cells as an alternative to traditional battery technology. Power Air expects to capitalize on this potential when it demonstrates its fuel cell based generator at a number of North American and International Power and Fuel Cell events in early 2007.
TSC is noted for their work with, account executives, analysts, portfolio managers, institutions, venture capital investors, individual investors and the media. To view the entire independent research report, please click on the attached URL: http://www.otclive.com
Mr. Remy Kozak, President and CEO of Power Air Corporation states, "We are honored to have a quality independent research firm review our progress and potential and to provide the resulting upgrade in our stock. This offers further confirmation to our shareholders that our company is headed in the right direction." Mr. Kozak further stated, "Participation in the North American and International events is an important pre-commercial activity. Our fuel cell ultimately has advantages over competitors due to the high energy density and stability of the fuel - Zinc - the low cost of production and our unique patent that allows for continuous operation."
Power Air Corporation, with the head office in Livermore, California, is engaged in the business of developing, manufacturing and marketing fuel cell based commercial products. Power Air has the exclusive worldwide license to zinc-air fuel cell technology that has been developed at the Department of Energy's Lawrence Livermore National Laboratory, in Livermore, California, for all fields of use (portable, stationary, light mobility and transportation applications) and commercialization.
Investor Relations please call OTC Financial Network, Peter Clark, +1-781-444-6100 x629 or email peter@otcfn.com.
Forward-Looking Statements:
This press release contains forward-looking statements. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially.
