Heliocentris wins order in Saudi Arabia
Berlin-based supplier of energy storage solutions underlines expansion strategy in the Gulf with a further order
Berlin – March 11, 2010. Heliocentris Fuel Cells AG, a leading specialist in clean energy storage solutions, is pleased to report a further order for the supply of an autonomous power supply solution for the laboratory area. The client is King Saud University, Riyadh, one of the most prestigious universities in Saudi Arabia.
“This project from Saudi Arabia represents the third major order which we have received from the Gulf within the space of just a few months”, says Dr. András Gosztonyi, CFO of Heliocentris, happily. “The project in Saudi Arabia underlines yet again our expansion strategy in the Middle East”, he adds.
Heliocentris will deliver an entire energy solution including a photovoltaic and wind power system. The solution includes a hybrid energy storage system consisting of a battery, fuel cell, electrolyser and adapted power electronics that store the solar or wind power generated locally.
Saudi Arabia is particularly interested in the field of renewable energies. To mark the opening of the new “University of the Future”, King Abdullah University of Science and Technology, the Minister for Oil and Natural Resources announced that Saudi Arabia wants to produce and export as much energy from solar power within the next 15 years as it is currently producing from fossil energy carriers.
About Heliocentris Fuel Cells AG
Heliocentris Fuel Cells AG is a specialist for clean energy storage solutions based on a smart combination of batteries, fuel cells and energy management. Areas of application are mobile and stationary applications that require longer ranges than current batteries can provide. Examples are electric vehicles, onboard and emergency power supplies as well as electricity supply for off-grid applications such as monitoring stations or energy self-sufficient houses. Heliocentris has been developing and marketing fuel cell-based energy solutions for more than 10 years now. Heliocentris initially targeted the training and lab markets as typical pioneer markets, where it has successfully positioned itself as one of the worldwide market leaders. Since 2006, Heliocentris has been entering selected industrial markets with considerable growth potential. With customers in over 60 countries and a broad distribution and partner network, Heliocentris is globally well positioned. Heliocentris Fuel Cells AG is listed at the Frankfurter Wertpapierbörse (Entry Standard) and employs in total 50 staff with its head office in Berlin and a subsidiary in Vancouver, Canada. Further information is available at: www.heliocentris.com.
Disclaimer
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Heliocentris Fuel Cells AG. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments. The information in this press release does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in the United States or any other country.
Press contact:
Dr. András Gosztonyi
CFO / Managing Director
Heliocentris Fuel Cells AG
+49-(0)30-6392-6185
a.gosztonyi(at)heliocentris.com
Katja Rinkinen
Senior Consultant
College Hill GmbH
+49-(0)69-133896-12