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09/02/2005
Voller Energy Group PLC (AIM:VLR), a manufacturer of portable fuel cell systems for use as battery chargers and mobile generators, confirms the acquisition of the assets of KAT-Chem GmbH (“KAT-Chem”) a developer of hydrogen reformer technology. Voller Energy is paying a maximum consideration of £250,000 in cash for the acquisition. £150,000 is payable in cash upon completion of the acquisition and a further £100,000 of this is contingent upon future sales of products using the KAT-chem reformer technology. KAT-Chem is a subsidiary of MIR-Chem GmbH which was founded in 2001 by academics from the University of Bremen in northern Germany. KAT-Chem focuses on the reforming of hydrocarbons and the developing of mini-reformers with high selectivity and yield for the application in fuel cells. Reformers are used to extract hydrogen from hydrocarbons such as propane, butane, LPG (Liquid Petroleum Gas) or Calor Gas. This means that Voller Energy portable fuel cell systems can use existing fuel infrastructures without having to wait for a hydrogen infrastructure to emerge. This is particularly important for Voller Energy’s target markets of building services and leisure (camping and boating). Voller Energy is acquiring two patent applications, two employees, analytical equipment and a number of fixed assets from KAT-Chem. KAT-Chem has an existing laboratory in Bremen that Voller Energy will take over. Appointment of Chief Technology Officer (non-board position) In addition the Company confirms the appointment of Dr Mark Turpin as Chief Technology Officer. Dr Turpin’s role at Voller Energy is to lead the development of the Company’s new technology, to further strengthen the Voller Energy intellectual property portfolio and to manage the Company’s laboratory acquired with the KAT-Chem acquisition. Dr Turpin has considerable experience in the integration of fuel cell energy systems and in the generation of hydrogen from hydrocarbon sources. Dr Turpin joins Voller Energy from Morgan Crucible PLC where he had responsibility for R&D in a US$25 million turnover carbon business, which incorporated the Morgan Fuel Cell business unit and employed 22 scientists and engineers. Dr Turpin is the inventor of over 20 UK patents with 20 fuel cell related UK patents either granted or pending. Previously Dr Turpin has worked as a consultant to a number of technology industries and was also a Senior Scientist at Duracell Batteries. Dr Turpin, 42, holds a Ph.D. in Materials Science and Engineering from Sheffield University. Stephen Voller, CEO of Voller Energy Group plc, said, “I am delighted to welcome Dr Mark Turpin to Voller Energy. He has a wealth of experience and technical knowledge in the fuel cell sector which will be invaluable to us as we move forward. We are also excited to complete the acquisition of KAT-Chem which not only gives us considerable IP and know-how in the important reformer area, but also has the potential to produce powerful, compact and low-cost reformer products in the near future.” For further information:
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