ARSC Inks Deal To Build Integrated Fuel Cell Factory

June 16, 2009 by Jeff Shepard

American Security Resources Corp. (ARSC) announced that it has signed an agreement with Highland Project Capital Group LLC to arrange financing for one or more integrated fuel cell manufacturing facilities.

Bob Farr, President and COO of ARSC, stated, "Hydra has been successful in generating a $21,000,000 purchase order backlog which will take more than two years of production from Hydra’s current plant. The plant we are planning with Highland’s help should be able to produce hundreds of fuel cells per month." Farr continued, "Highland is expected to arrange financing from a variety of sources that may include Industrial Revenue Bonds, equity and grants."

ARSC is a holding company actively seeking to acquire companies and technologies that will advance the development of alternative energies. ARSC, through its Hydra subsidiary, has developed high volume, mass producible hydrogen fuel cells. Its American Hydrogen Corp. subsidiary is developing methods to inexpensively formulate hydrogen.