March 18, 2004

News Release: Fuel Cell Technologies Announces its Longest Running Fuel Cell

FCT is pleased to announce that the 5 kW SOFC undergoing tests in Alaska in collaboration with University of Alaska (UAF) and Fairbanks Natural Gas continues to perform very satisfactorily. The system generates AC power at an electrical efficiency of approximately 40%. The system reliability is 100% over the last 4,320 hours and the unit continues to operate without detectable deterioration at this time. The remote marketplace is a substantial early-day opportunity for FCT and this unit's unparalleled performance between August 1, 2003 and now, illustrates the 5 kW SOFC's functionality and durability. Dennis Witmer, Director of the UAF Arctic Energy Technology Development Laboratory said in their press release dated March 2, 2004, 'Since the biggest questions surrounding fuel cells have been longevity and reliability, this is an exciting achievement in fuel cell technology and testing'. FCT is pleased at both the longevity of this unit's operation and its ability to handle interruptions with the Alaska electricity grid.

'We estimate that there are in excess of 600,000 sites in remote parts of Canada where power is generated off-grid. The grid tie and grid independent operation of this 5 kW SOFC confirms for FCT the opportunity to sell units into this large market'said Dr. John Stannard, President of FCT. 'The next phase of testing will involve utilizing a variety of fuel choices, such as propane and methanol which are important in areas where power is required from other than the conventional grid.'

FCT is a leading developer of small-scale power systems (1 kW to 50 kW) that provide for the on site generation of electricity. FCT's SOFC power units can operate on any one of several readily available fuels to provide electricity and heat for stationary applications such as homes, small commercial enterprises, industrial applications, and remote sites. FCT's research and production facilities are located in Kingston, Ontario, Canada.

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For further information: J. Christopher McFarlane, Chief Financial Officer, (613) 541-6125, cmcfarlane(at)fct.ca

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