EVI, Sammer Power Systems and Sammer Engineering Announce Joint Development Agreement

Energy Ventures Inc. (EVI, Toronto), Sammer Power Systems Inc. (New Jersey) and Sammer Engineering Gmbh (Austria) announced today that they have entered into a joint development agreement to build demonstration units of EVI's Direct Methanol Fuel Cell (DMFC). EVI has been working with Dr. Karl Kordesch and Dr. Victor Hacker to advance the development of EVI's breakthrough DMFC system that is designed to increase the efficiency and reduce the cost of fuel cells. EVI's DMFC employs methanol directly without the need for a costly fuel reformer and resolves the methanol "crossover" problem.Under the terms of the agreement, Sammer will provide the materials and expertise required to assist EVI in the construction and testing of single-cell samples and to construct these single cells into a three-cell stack. The aim of the project is to produce a 150W demonstration DMFC. Testing of the cells will take place at Sammer Power Systems New Jersey facility, at the Technical University of Graz and at EVI's laboratory in Ottawa. As part of the agreement, Sammer has granted EVI the use of Sammer's patented fuel cell assembly design for the life of the patent. With the successful completion of the project, Sammer will be granted a stock option to purchase up to 50,000 EVI common shares.