Mr. Hao Luo, the senior business analyst of Herald Investment Management Limited visited Powerzinc Electric (Shanghai), Inc. on May 27th, 2004.

Herald Investment Management Limited (HIML) was established in 1999 and now manages three investment funds. It is specialized in achieving capital growth through investing in companies of different scales in the fields of technology, media and communications. In recent two years, HIML started to focus on Asian market and in 2003 a special committee was sent to Shanghai for an investment investigation. Up to now HIML has already invested in two semi-conductor companies in China.

During the visiting, members of the management team of Powerzinc introduced the company and Powerzinc Project to Mr. Luo. The two parties discussed the future development of Powerzinc and agreed that next meeting would be held in July if necessary to discuss the details of the cooperation between the two parties.

　

About Powerzinc

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.