Vanteck Announces European Subsidiary and Project

July 17, 2002 by Jeff Shepard

Vanteck Technology Corp. (Vancouver, BC) announced the establishment of a European subsidiary, Vanteck Technology GmbH (Vienna, Austria), who will be responsible for marketing, sales and corporate development in Europe. Vanteck owns 45 percent of the new subsidiary and 55 percent is owned by European private investors.

The new European subsidairy has entered into a two-stage project agreement with Funktionswerkstoffe GmbH (Burgenland, Austria), which will concentrate on cell stack optimization, component optimization and creating a consortium of components manufacturers. The second stage of the project will be the design and construction of prototype VRBPower Systems with direct charging from solar panels and small wind turbines. The systems will provide up to 10kW peak output with 20kWh capacity and 1kW peak renewable energy power supply.