Energy Research Corp. to Change Name to Fuel Cell Energy Inc.

June 30, 1999 by Jeff Shepard

Energy Research Corp. (ERC, Danbury, CT) announced that it plans to change its name to Fuel Cell Energy Inc. to more directly reflect its emphasis on commercializing Direct Fuel Cell technology. The name change has been approved by the board of directors and is subject to approval by shareholders. A special meeting is expected to be held in September to approve the name change. "Historically, Energy Research Corp. has been a leader in the R&D of electrochemical technologies, fuel cells and batteries," said Jerry D. Leitman, President and CEO. "With the recent spin-off of our battery group, ERC is now totally dedicated to the commercialization of fuel cells. While research constantly continues at the company, here are no more technical hurdles to overcome, and our principle focus is now on the manufacture and marketing of fuel cells." The company expects to initiate commercial field trials for its one and two megawatt power plans next year. The company also plans to commercialize field trials of 250kW power plants designed in collaboration with its European Partner, MTU, a subsidiary of DaimlerChrysler.