DCH Technology Announces 77% Increase in Revenues for Year 2000

Apr 02, 2001, 01:00 ET from DCH Technology, Inc.

    VALENCIA, Calif., April 2 /PRNewswire/ -- DCH Technology, Inc.
 (Amex:   DCH), a leading innovator of hydrogen fuel cells and hydrogen-specific
 safety and measurement equipment, announced revenues for the fiscal year ended
 December 31, 2000 were up 77% to $961,551, compared to $543,199 for the same
 period 1999.
     "Our diversified product strategy is proving to be a tenacious platform
 for growth," said DCH President and CEO John Donohue.
     "Our strongest growth segment -- DCH's family of hydrogen sensor products
 -- will continue to fuel near-term growth as these products generate
 increasing sales in the automotive, semiconductor, and nuclear power
 industries and growing interest in several other major markets.
     During the last quarter of 2000 DCH focused on the final development of
 the state-of-the-art H2SCAN(TM) hydrogen-specific sensing systems, which
 integrates the company's proprietary Robust Hydrogen Sensor(TM) with feature-
 rich electronic controls for data logging, evaluation, and communications.
 The product will officially launch at the end of the first quarter 2001 with
 delivery of the first unit to a major automotive manufacturer.
     "We also made great strides in 2000 toward the commercialization of
 several new fuel cell product platforms, which will soon be the core of our
 revenues for years to come," said Donohue.  "Last year we purposefully focused
 our resources on delivering two strategically critical 3-kW fuel cell systems
 to select customers.  The Electric Power Research Institute took possession of
 one these fuel cells for use as a high-market-profile power quality monitoring
 system, and has been exceptionally pleased with its performance.  We also
 completed the design and manufacturer of the second generation of this system,
 featuring several enhancements targeted toward volume-production, in late
 December.  The unit was delivered in early January to a second strategic
 customer.
     Several different portable DCH fuel cells were also developed and
 delivered to major consumer and commercial product manufacturers for test and
 evaluation.  "Our investments last year produced a platform of portable fuel
 cell designs as small as two-inches square, to 6-volt battery replacements
 featuring an integrated fuel supply, to compact higher-wattage units ideal for
 personal/portable and maritime power and for such products as fuel cell bikes
 for developing nations."
     All total, Donohue said, DCH increased investment in new product research
 and development by 111%, from $841,708 in 1999 to $1,779,964 in 2000.  Donohue
 further noted that DCH increased investment in long-term corporate
 infrastructure -- including the staffing of DCH's new 17,000 sq. ft.
 engineering and manufacturing center for sensor products and the expansion of
 technical staff for fuel cell products -- from $2,870,256 in 1999 to
 $5,725,880 in 2000.  As a result of these investments, total losses incurred
 last year were $7,657,413, compared to $3,587,473 for 1999.
     "Our expenditures were significant, but we invested wisely," Donohue said.
 "They have bought and built for DCH the foundation to succeed and lead in the
 emerging hydrogen economy."
     For additional information, please contact Investor Relations at
 661-775-4380 or at invest@dcht.com
     Safe Harbor:  This press release includes statements that are considered
 "forward-looking" within the meaning of the Private Securities Litigation
 Reform Act of 1995.  These forward-looking statements reflect DCH Technology's
 current views about future events and performance.  Investors should not rely
 on these statements because they are subject to a variety of risks,
 uncertainties and other factors that could cause actual results to differ
 materially from expectations.  These factors include, but are not limited to,
 the cost of development and market acceptance of DCH's sensor-based systems,
 competition, the cost and availability of materials, governmental regulations,
 and other factors detailed in DCH Technology's filings with the Securities and
 Exchange Commission.
 
 

SOURCE DCH Technology, Inc.
    VALENCIA, Calif., April 2 /PRNewswire/ -- DCH Technology, Inc.
 (Amex:   DCH), a leading innovator of hydrogen fuel cells and hydrogen-specific
 safety and measurement equipment, announced revenues for the fiscal year ended
 December 31, 2000 were up 77% to $961,551, compared to $543,199 for the same
 period 1999.
     "Our diversified product strategy is proving to be a tenacious platform
 for growth," said DCH President and CEO John Donohue.
     "Our strongest growth segment -- DCH's family of hydrogen sensor products
 -- will continue to fuel near-term growth as these products generate
 increasing sales in the automotive, semiconductor, and nuclear power
 industries and growing interest in several other major markets.
     During the last quarter of 2000 DCH focused on the final development of
 the state-of-the-art H2SCAN(TM) hydrogen-specific sensing systems, which
 integrates the company's proprietary Robust Hydrogen Sensor(TM) with feature-
 rich electronic controls for data logging, evaluation, and communications.
 The product will officially launch at the end of the first quarter 2001 with
 delivery of the first unit to a major automotive manufacturer.
     "We also made great strides in 2000 toward the commercialization of
 several new fuel cell product platforms, which will soon be the core of our
 revenues for years to come," said Donohue.  "Last year we purposefully focused
 our resources on delivering two strategically critical 3-kW fuel cell systems
 to select customers.  The Electric Power Research Institute took possession of
 one these fuel cells for use as a high-market-profile power quality monitoring
 system, and has been exceptionally pleased with its performance.  We also
 completed the design and manufacturer of the second generation of this system,
 featuring several enhancements targeted toward volume-production, in late
 December.  The unit was delivered in early January to a second strategic
 customer.
     Several different portable DCH fuel cells were also developed and
 delivered to major consumer and commercial product manufacturers for test and
 evaluation.  "Our investments last year produced a platform of portable fuel
 cell designs as small as two-inches square, to 6-volt battery replacements
 featuring an integrated fuel supply, to compact higher-wattage units ideal for
 personal/portable and maritime power and for such products as fuel cell bikes
 for developing nations."
     All total, Donohue said, DCH increased investment in new product research
 and development by 111%, from $841,708 in 1999 to $1,779,964 in 2000.  Donohue
 further noted that DCH increased investment in long-term corporate
 infrastructure -- including the staffing of DCH's new 17,000 sq. ft.
 engineering and manufacturing center for sensor products and the expansion of
 technical staff for fuel cell products -- from $2,870,256 in 1999 to
 $5,725,880 in 2000.  As a result of these investments, total losses incurred
 last year were $7,657,413, compared to $3,587,473 for 1999.
     "Our expenditures were significant, but we invested wisely," Donohue said.
 "They have bought and built for DCH the foundation to succeed and lead in the
 emerging hydrogen economy."
     For additional information, please contact Investor Relations at
 661-775-4380 or at invest@dcht.com
     Safe Harbor:  This press release includes statements that are considered
 "forward-looking" within the meaning of the Private Securities Litigation
 Reform Act of 1995.  These forward-looking statements reflect DCH Technology's
 current views about future events and performance.  Investors should not rely
 on these statements because they are subject to a variety of risks,
 uncertainties and other factors that could cause actual results to differ
 materially from expectations.  These factors include, but are not limited to,
 the cost of development and market acceptance of DCH's sensor-based systems,
 competition, the cost and availability of materials, governmental regulations,
 and other factors detailed in DCH Technology's filings with the Securities and
 Exchange Commission.
 
 SOURCE   DCH Technology, Inc.