PFCC Announces $100,000 Offshore Investment

January 12, 2003 by Jeff Shepard

Pacific Fuel Cell Corp. (PFCC, Tustin, CA) announced the investment of $100,000 at a price of $0.05 per common share by two off-shore entities, for a total purchase of 2,000,000 common shares. PFCE has signed a contract with the University of California to do research and build a fuel cell prototype based upon PFCE's proprietary carbon nanotechnology. Matching funds will be provided by the State of California.

"We are gratified by this investment in our company, particularly since we consider the investors to be very knowledgeable about undervalued situations," stated George Suzuki, president of Pacific Fuel Cell.