Electric Fuel Awarded Contract
to Develop Prototype Batteries for Battlefield Drones
Company to exhibit at Unmanned Systems
Symposium In Orlando, Fla, July 9 to July 11
8, 2002 Electric Fuel
Corporation (NasdaqNM: EFCX), the world's leading zinc-air fuel cell
company, today announced it has received a contract to provide prototype
zinc air batteries for battlefield drones. As a result, the Company
plans to develop and produce advanced zinc-air batteries for other unmanned
air vehicles (UAVs) and micro air vehicles (MAVs). The new batteries
will provide the military's man-portable battlefield drones with longer
range and flying time than existing battery alternatives.
Electric Fuel's solutions for
UAVs and MAVs are high-power, lightweight versions of its most advanced
zinc-air cells, which have specific energy of 400 Wh/kg.
The Company will showcase its
high-energy and high-power capabilities at Unmanned Systems 2002, in
Orlando, Fla., from July 9 to 11. The symposium and exhibition are sponsored
by the Association for Unmanned Vehicle Systems International (AUVSI).
For further information on the symposium, please visit the organization's
website at www.auvsi.org.
Electric Fuel President and CEO Yehuda Harats said,
"We have achieved outstanding performance with our zinc-air technology.
Today, Electric Fuel can offer the best solutions for many demanding
applications. We intend to be an important provider of power solutions
for the rapidly growing unmanned platform sector, as part of our overall
strategy of expansion in the defense and security industry."
About Electric Fuel
With corporate and sales offices in New York and
London, England, and manufacturing and R&D facilities in Israel
and Alabama, Electric Fuel Corporation is a world leader in primary
and refuelable Zinc-Air fuel cell technology, pioneering advancements
in consumer electronics, electric vehicles, and defense and safety products.
Electric Fuel's INSTANT POWER(TM) batteries and chargers are based on
the Company's patented, cutting-edge Zinc-Air fuel cell technology,
and are on sale at retail outlets throughout the United States, Canada,
Europe and Israel. For more information on Electric Fuel, please visit
our web site at http://www.electric-fuel.com , or find out more about
our consumer products at http://www.instant-power.com .
Except for the historical information herein,
the matters discussed in this news release include forward-looking statements,
as defined in the Private Securities Litigation Reform Act of 1995.
Readers are cautioned not to place undue reliance on these forward-looking
statements, as they are subject to various risks and uncertainties that
may cause actual results to vary significantly. These risks and uncertainties
include, but are not limited to, risks relating to: product and technology
development; the uncertainty of the market for Electric Fuel's products;
market acceptance of new products and continuing product demand; the
ability to manage growth and ramp-up production effectively as needed;
the impact of competitive products and pricing on Electric Fuel's products
and markets; changing economic conditions; delay, cancellation or non-renewal
of purchase orders; significant future capital requirements; and other
risk factors detailed in Electric Fuel's most recent annual report on
Form 10-K for the fiscal year ended December 31, 2001, and other filings
with the Securities and Exchange Commission. Electric Fuel assumes no
obligation to update the information in this release. Reference to the
Company's website above does not constitute incorporation of any of
the information thereon into this press release.