Energy Ventures Inc. and SRE Controls Inc. Agree to Produce A Ready-to-Market Direct Methanol Fuel Cell System

Apr 03, 2001, 01:00 ET from Energy Ventures Inc.

    OTTAWA, April 3 /PRNewswire/ -- The Board of Directors of Energy Ventures
 Inc. ("EVI") (OTC Bulletin Board:   EGYV) announced today that it has entered
 into an agreement with SRE Controls Inc. ("SRE") of Waterloo, Ontario to
 jointly develop operating prototype Direct Methanol Fuel Cell ("DMFC") Units
 by June, 2002.
     SRE is a fast growing leader in the development and production of controls
 for industrial electric vehicles for applications such as golf cars, lift
 trucks and Aircraft Ground Support Equipment.  Those areas are anticipated to
 be some of the first markets targeted by EVI.  It is anticipated that
 combining the skills of the two companies will greatly reduce the time to
 bring a DMFC to market.
     EVI believes that its proprietary DMFC technology will solve the fuelling
 infrastructure and safety issues arising from the use of hydrogen and hopes
 and expects that its Fuel Cells will offer the lowest cost per unit of any
 energy system available.  The first commercial prototype is scheduled for
 completion in the second quarter of 2002 and there are discussions currently
 underway with several potential customers.  SRE, with their proven expertise,
 will provide the system of electronic controls necessary for a functioning
 DMFC unit.
     Mr. Wayne Hartford, President of EVI, stated, "While the market is excited
 about fuel cells, it is greatly concerned about the enormous problems
 including safety problems associated with a hydrogen infrastructure.  EVI
 believes its proprietary technology resolves those issues and that working
 with SRE will permit actual operating DMFC systems to be more speedily brought
 to market.  We are delighted to find a Canadian company like SRE Controls with
 the skills and capabilities of integrating state-of-the-art controls with our
 Fuel Cell."
     Mr. Hal Dickout, President of SRE, stated, "We are excited about the
 opportunities in this market and believe that, jointly with EVI, we can become
 a major factor in the rapidly growing field.  We look forward to working with
 EVI toward early completion of a working DMFC unit."
 
     All information should be considered for information purposes only.  No
 stock exchange has approved or disapproved of the information contained
 herein.
 
     Statements in this release, other than statements of historical fact, may
 be regarded, in certain instances, as "forward looking statements" pursuant to
 Section 27A of the Securities Act of 1933 and Section 21B of the Securities
 Exchange Act of 1934, respectively.  "Forward looking statements" are based on
 expectations, estimates and projections at the time the statements are made
 that involve risks and uncertainties which could cause actual results or
 events to differ materially from those presently anticipated.  There can be no
 assurance that such statements will ever prove to be accurate and readers
 should not place undue reliance on any such "forward looking statements"
 contained herein.
 
     Energy Ventures Inc. is a portable power technology developer and
 integrator with activities in direct methanol fuel cell and rechargeable
 battery technology.  It is engaged in the development of technology products
 that management anticipates will produce reliable and economical power and
 reduce pollution.  For further information please contact Wayne Hartford at
 (416) 733-2736 or David Trudel at (905) 824-0187. EVI's website is at
 http://energyvi.com/.
 
 

SOURCE Energy Ventures Inc.
    OTTAWA, April 3 /PRNewswire/ -- The Board of Directors of Energy Ventures
 Inc. ("EVI") (OTC Bulletin Board:   EGYV) announced today that it has entered
 into an agreement with SRE Controls Inc. ("SRE") of Waterloo, Ontario to
 jointly develop operating prototype Direct Methanol Fuel Cell ("DMFC") Units
 by June, 2002.
     SRE is a fast growing leader in the development and production of controls
 for industrial electric vehicles for applications such as golf cars, lift
 trucks and Aircraft Ground Support Equipment.  Those areas are anticipated to
 be some of the first markets targeted by EVI.  It is anticipated that
 combining the skills of the two companies will greatly reduce the time to
 bring a DMFC to market.
     EVI believes that its proprietary DMFC technology will solve the fuelling
 infrastructure and safety issues arising from the use of hydrogen and hopes
 and expects that its Fuel Cells will offer the lowest cost per unit of any
 energy system available.  The first commercial prototype is scheduled for
 completion in the second quarter of 2002 and there are discussions currently
 underway with several potential customers.  SRE, with their proven expertise,
 will provide the system of electronic controls necessary for a functioning
 DMFC unit.
     Mr. Wayne Hartford, President of EVI, stated, "While the market is excited
 about fuel cells, it is greatly concerned about the enormous problems
 including safety problems associated with a hydrogen infrastructure.  EVI
 believes its proprietary technology resolves those issues and that working
 with SRE will permit actual operating DMFC systems to be more speedily brought
 to market.  We are delighted to find a Canadian company like SRE Controls with
 the skills and capabilities of integrating state-of-the-art controls with our
 Fuel Cell."
     Mr. Hal Dickout, President of SRE, stated, "We are excited about the
 opportunities in this market and believe that, jointly with EVI, we can become
 a major factor in the rapidly growing field.  We look forward to working with
 EVI toward early completion of a working DMFC unit."
 
     All information should be considered for information purposes only.  No
 stock exchange has approved or disapproved of the information contained
 herein.
 
     Statements in this release, other than statements of historical fact, may
 be regarded, in certain instances, as "forward looking statements" pursuant to
 Section 27A of the Securities Act of 1933 and Section 21B of the Securities
 Exchange Act of 1934, respectively.  "Forward looking statements" are based on
 expectations, estimates and projections at the time the statements are made
 that involve risks and uncertainties which could cause actual results or
 events to differ materially from those presently anticipated.  There can be no
 assurance that such statements will ever prove to be accurate and readers
 should not place undue reliance on any such "forward looking statements"
 contained herein.
 
     Energy Ventures Inc. is a portable power technology developer and
 integrator with activities in direct methanol fuel cell and rechargeable
 battery technology.  It is engaged in the development of technology products
 that management anticipates will produce reliable and economical power and
 reduce pollution.  For further information please contact Wayne Hartford at
 (416) 733-2736 or David Trudel at (905) 824-0187. EVI's website is at
 http://energyvi.com/.
 
 SOURCE  Energy Ventures Inc.