29.3.2004: Meldung: Dynetek Industries Ltd. delivers Hydrogen Fuel Storage Systems to Hyundai Motor Company

Friday March 26, 9:00 am ET
CALGARY, March 26 / Dynetek Industries Ltd. ("Dynetek"), a leader in developing, producing and marketing lightweight compressed natural gas (CNG) storage cylinders and compressed hydrogen storage cylinders, announced today it has been contracted to develop and deliver advanced on-board hydrogen fuel storage systems to Hyundai Motor Company for use in their fuel cell- powered version of its Tucson compact sport utility vehicle (SUV). Dynetek will provide the fuel storage solution using its certified 350bar (5000psi) hydrogen fuel storage system with their innovative in-tank pressure regulator. The 350bar system and components will be approved according to NGV2 and NGV3.1 and EIHP (European Integrated Hydrogen Project) for operation in Asia, North America and Europe Hyundai unveiled the current version of the Tucson FCHEV at the 2004 International Motor Show in Geneva, Switzerland.

"We are honored to be working with Hyundai Motor Company and their zero- emission fuel cell technology," said Robb Thompson, Dynetek"s President and CEO. "According to Hyundai officials, the fuel cell Tucson is expected to be utilized in the United States by year end as part of a small business-users fleet."

"Entering this new phase of our program is really quite exciting because we will be able to build fuel cell electric vehicles in higher volumes for fleet testing applications. It also brings us one step closer to the commercialization of fuel cell vehicles," stated Kim Sang-Kwon, president of research and development for Hyundai Kia Motors, in Hyundai Motor Company"s press release of March 2, 2004.

The goal of Hyundai"s fuel cell program is to produce a fuel cell vehicle that appeals to consumers, is environmentally friendly and accelerates the development of a sustainable energy society. Hyundai expects to place fuel cell vehicles into fleet applications beginning as early as 2004, with limited consumer availability planned for 2010.

Established in 1969, Hyundai Motor Co. has grown into the Hyundai Automotive Group, which includes Kia Motors Corp. and over two dozen auto- related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles are sold in 166 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com.

Dynetek Industries Ltd. designs, produces and markets one of the lightest and most advanced fuel storage and refueling systems for compressed natural gas, low emission vehicles and compressed hydrogen, zero-emission fuel cell vehicles. Dynetek is recognized around the world for its solutions-of-choice to the alternate fuel vehicle sector, evidenced by strategic relationships with major manufacturers around the globe. Dynetek is listed on the Toronto Stock Exchange, symbol: DNK.
%SEDAR: 00014127E

Robb Thompson, President and Chief Executive Officer, (403) 720-0262 or 1-888-396-3835 (toll free in North America), www.dynetek.com

Source: Dynetek Industries Ltd.
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