Powerzinc's New Capital Funding
=== May 6, 2004 ===

Powerzinc Electric, Inc., the leading metal air (zinc-air) fuel cell developer and manufacturer based in Southern California with manufacturing model plant located in Shanghai, China, announced today that its subsidiary company in Shanghai, Powerzinc Electric (Shanghai), Inc. has successfully finished one round of capital funding. A total amount of 20 million RMB Yuan has been invested by Zhejiang Jianfeng Group Co., Ltd., one of the public listing company in China.

Powerzinc is utilizing this investment to consummate the expansion project of Shanghai Manufacturing model Plant and speedup the progress of market popularization of DQFC )Dynamic Quick-refuel Fuel Cell) series of zinc air fuel cells.

Zhejiang jianfeng Group Co., Ltd. is one of the largest and excellent enterprises among the national building materials industries in China; the quality of its cement products is exempt from the national inspection. It is also the leading and one of the top ten pharmacy enterprises in Zhejiang Province, China. Before the said investment, it was searching for new field of Hi-Tech for investment.


About Powerzinc Electric, Inc.

Powerzinc Electric, Inc. is a California-based Hi-Tech company. It is dedicated to the research, development, manufacturing and commercialization of advanced zinc-air fuel cells and entire manufacture facilities, along with fuel cells refuel service platform. Through years of R&D, Powerzinc has achieved significant breakthroughs in zinc-air fuel cell technology and developed the high power, large energy, long-lasting, low cost and environment-friendly power and energy source. Its innovative products - DQFC series of zinc-air fuel cells with creative design and process technology is a totally renewable energy for electric vehicles and various other applications today.


About Powerzinc Electric (Shanghai), Inc

In Shanghai, China, Powerzinc has established a zinc-air fuel cell manufacturing and service model plant to commercialize the technology and its products. The plant is ready for commercial-scale production. The Company has started supplying DQFC series zinc-air fuel cells to manufacturers of Electric Bicycles and Electric Scooters. In the near future, the new series of DQFC zinc-air fuel cells for Electric Buses, Defense and Security, Communication and other applications will be available to the commercial market soon to satisfy the real highly growing demand anywhere in the world.






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