thinkpool

2000년 2월 24일 에너지 벤처사 발표 ENERGY VENTURES INC. AND YOUNG POONG SIGN JOINT DEVELOPMENT AGREEMENT FOR NICKEL ZINC BATTERY TORONTO, Ontario - Energy Ventures Inc. (EVI) [OTCBB:NASDAQ, “EGYV”] announced today that it has entered into a joint development agreement with Young Poong Corporation ("Young Poong") of Korea. This agreement will greatly accelerate the commercial development of EVI's rechargeable Nickel Zinc battery system which is targeted at existing Nickel Cadmium and Nickel Metal-Hydride markets. Batteries manufactured using EVI's technology are forecasted to have a cost per unit of energy that is half or less than half of the cost of those systems. Young Poong is an experienced battery producer and currently manufactures high quality alkaline batteries in both rechargeable and non-rechargeable formats for the global market. As part of this agreement, Young Poong is providing a wealth of manufacturing experience, battery components and materials and also sophisticated testing facilities. In exchange for this support, EVI has given Young Poong a six month option on a license for the manufacture and use in Korea of EVI's proprietary Nickel Zinc technology. The two companies are also discussing the possibility of Young Poong acting as EVI's representative in Korea for the company's Zinc Carbon/Bromine and Direct Methanol Fuel Cell (DMFC) technologies. The Korean auto makers have announced that they are initiating programs on fuel cells, an area in which EVI's recently announced breakthrough in Direct Methanol technology has caught the attention of the international fuel cell community. EVI's DMFC research program has resulted in the development of a process that is expected to provide a solution to the shut down problem of most existing fuel cell systems. Much of this next generation fuel cell work will be detailed in a paper presented at the U.S. military conference in Cherry Hill, New Jersey, in June of this year. For further information please contact either Wayne Hartford at (416) 733-2736 or Terry Kimmel at (613) 990-9373.