SFC Smart Fuel Cell AG: SFC’s U.S. licensing partner Capitol Connections LLC receives major U.S. Air Force Order for Delivery of Serial Commercial Products and successfully refutes protest
SFC Smart Fuel Cell AG / Miscellaneous
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• SFC to deliver more than 500 Power Manager modules for the U.S. Air Force; order value approx. 1.5 million USD.
• Power Manager enables efficient battery charging and significant weight reduction in field use.
• SFC reiterates guidance to double sales in the current fiscal year compared to previous year.
Brunnthal, Germany, November 28, 2007 – Following a successful tender of the U.S. Air Force SFC's U.S. partner Capital Connections LLC was awarded a follow-up contract in September 2007 regarding delivery of 521 Power Managers worth approx. 1.5 million USD. Immediately after contract award, a protest was filed against the award decision by a competing US company, resulting in a stop of work order. Now, SFC has been able to prove the rightfulness of the tender award jointly with the American business partner and legal counsel engaged in this matter. The order has now been released again and production work has started.
Due to the delay resulting from clarification of this protest, SFC today assumes that the substantial part of the order will be delivered in the first half of 2008. Under the existing contract the assembly of the final products will be handled by Capitol Connections LLC in the US.
The SFC Power Manager enables efficient battery charging in the field by harvesting and efficiently managing energy from virtually any energy source to provide electrical power during operation of host equipment. It is an important part of SFC’s fuel cell based energy solution consisting of SFC’s Portable Fuel Cell System, SFC Power Manager and hybrid battery. Through the SFC Power Manager the portable fuel cell can power virtually all electrical equipment carried by the soldier. As a result, the weight of batteries for the electrical equipment is significantly reduced.
The SFC Power Manager was developed in close cooperation with the U.S. Air Force. It will go through all rigorous U.S. Air Force operational tests under real field conditions to demonstrate the technical maturity that is necessary to meet the energy requirements of Airmen on the ground. SFC’s fuel cell based energy solution is currently being field tested by several other military organizations in Europe and the United States. In theses tests it has been shown to successfully reduce a soldier’s load by over 80 percent.
SFC reiterates its guidance to achieve a triple digit growth rate in the current fiscal year. In the first nine months of 2007 the company has already increased its sales, compared to the previous year, by more than 130 per cent to 9.6 million Euros.
About SFC Smart Fuel Cell
SFC Smart Fuel Cell AG (www.sfc.com) is market leader in fuel cell technologies for mobile and off-grid power applications serving the leisure, industrial and defense markets. As one of Germany’s technology pioneers, SFC has won numerous innovation awards. In a U.S. Navy Assessment in 2005, SFC was awarded the highest score for technical maturity of all fuel cell products. SFC has cooperation agreements with the German Bundeswehr, the U.S. Army, the U.S. Air Force and other leading military organizations. Unlike most other fuel cell manufacturers, who are in the research and development phase or run subsidized demonstration projects, SFC has shipped fully commercial products to industrial and private end users for four years, and has created a convenient fuel cartridge supply infrastructure. SFC is DIN ISO 9001:2000 certified.
SFC Investor Relations Contact:
Barbara v. Frankenberg
Investor Relations Manager
SFC Smart Fuel Cell AG
Tel. +49 89 673 592-378
Fax. +49 89 673 592-369
Email: [email protected]
28.11.2007 Financial News transmitted by DGAP
Issuer: SFC Smart Fuel Cell AG
Phone: +49 (89) 673 592 - 100
Fax: +49 (89) 673 592 - 169
E-mail: [email protected]
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München, Düsseldorf, Stuttgart
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