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Technology Stocks : H POWER CORP (HPOW)

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To: D.Austin who wrote (67)2/26/2002 11:29:34 AM
From: Scoobah  Read Replies (2) of 74
 
a Major defection from HPOW to DCH ??

Tuesday February 26, 11:00 am Eastern Time
Press Release

SOURCE: DCH Technology, Inc.

DCH Adds Malhotra To New Management Team
VALENCIA, Calif., Feb. 26 /PRNewswire-FirstCall/ -- DCH Technology, Inc. (Amex: DCH - news), a manufacturer of hydrogen fuel cells and hydrogen sensors and provider of hydrogen safety services, announced the hiring of Dr. Sanjiv Malhotra as Vice President -- Business Development and Marketing for all DCH lines of business. Malhotra is a well-known and influential participant in the hydrogen energy industry, most recently serving as Director, Business Development, Marketing and Sales for H Power Corporation. Malhotra assumed his DCH position yesterday morning.

While serving H Power, Malhotra spearheaded the formation of several strategic business alliances -- forging financial, joint development and marketing agreements generating substantial revenues and establishing significant channels to market. He also negotiated revenue-generating research contracts and licensing fees.

``One of our highest strategic priorities entering 2002 was to bring in an established business development executive to assist our transition to commercial operations, and we are fortunate to retain an individual of Dr. Malhotra's status in the industry,'' said John Donohue, DCH President and Chief Executive Officer. ``Sanjiv understands the business dynamics of the hydrogen power industry extremely well. He brings to DCH exceptional experience and tremendous credibility. We are confident that he will accelerate the outreach activities we have in place and open the door to several potential partners we've targeted.''

``I am impressed by DCH's proven technology, new management team, and the strong strategic plan they have that focuses on the nearest-term commercialization opportunities,'' Malhotra said. ``My experience on both the technical side and business side of hydrogen matches well with this vision. I'm totally focused on generating some very exciting and significant partnerships for the Company.''

Malhotra holds both a Doctorate in Chemical and Biochemical Engineering and Masters in Business Administration from the University of Iowa. He has authored and presented several technical and business presentations on fuel cells. Malhotra was a Post-Doctoral Fellow at Lawrence Berkeley National Laboratories, where he was involved with a fuel cell project funded by the Electric Power Research Institute.

For additional information, please contact Investor Relations at 1-661-775-4380 or at invest@dcht.com. Web page: www.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 and fuel cells as well as fuel cells in general, the availability of financing for DCH's operations, the ability of DCH to secure strategic investors, 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.
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