7.3.2003: Meldung: Stuart Energy Expands Hydrogen Infrastructure

Stuart Energy Systems Corporation (TSX: HHO - News) announced today that it has sold a Hydrogen Energy Station (HES) to Sydkraft of Malmo, Sweden. Sydkraft supplies natural gas fuel to the City of Malmo"s entire bus fleet. Sydkraft is one of the major power generation and distribution utilities in Northern Europe delivering electricity, natural gas and district heating to its customers. The Stuart Energy HES for Sydkraft is an intelligent hydrogen station that generates, compresses and dispenses hydrogen. This station is also capable of dispensing a blend of hydrogen and natural gas fuel to the bus fleet operating in Malmo.

The Stuart Energy HES, to be installed at
Sydkraft in the fall of 2003, is comprised of four modules: water electrolysis-based hydrogen generation, compression, storage and a natural gas/hydrogen dispenser and will produce about 80kg of high-purity hydrogen per day. A feature of this station is the ability of the dispenser to mix hydrogen and natural gas into a blended fuel. The ratio of hydrogen to natural gas can be set to dispense a range of blended fuel from 100% hydrogen to 100% natural gas. This will enable a full evaluation of different blends of hydrogen/natural gas fuels. The Stuart Energy station will enable Sydkraft to demonstrate and evaluate the use of a hydrogen/natural gas fuel blend as an economical and environmentally friendly fleet fuel. Adding hydrogen to natural gas results in reduced emissions from the vehicle"s tailpipe.

Jon Slangerup, President and CEO of Stuart Energy, said, "We are pleased to participate in this important European project, and further expand our infrastructure solutions, including adding the capability of distributing blended fuels. European companies recognize that Stuart Energy is the leader in providing state-of- the-art hydrogen infrastructure products. Hydrogen/natural gas blended fuel is an excellent transition fuel for those fleet operators that want to transition to hydrogen but are currently operating their fleets on natural gas. We believe that offering our customers this kind of fuel flexibility will accelerate the development of a hydrogen infrastructure." Stuart Energy is targeting select markets for hydrogen infrastructure products, and in addition to Europe, has made significant commercial progress in California. With the recent acquisition of Vandenborre Technologies, Stuart Energy is now providing hydrogen infrastructure to four projects in Europe and one in Asia. In addition Stuart Energy currently has seven stations installed and operating in North America.

About Stuart Energy

Stuart Energy Systems Corporation (TSX: HHO - News) is a world leading developer and supplier of integrated hydrogen solutions that use the Company"s proprietary hydrogen generation water electrolysis technology with products from corporate partners to serve existing and emerging markets for power generation, transportation and industry. The Company"s website address is http://www.stuartenergy.com

This release contains forward-looking statements that are based on the beliefs of Stuart Energy"s management and reflect Stuart Energy"s current expectations as contemplated under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, the words "estimate", "project", "believe", "anticipate", "intend", "expect", "plan", "predict", "may", "should", "will", and the negative of such words or such other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current views of Stuart Energy"s management with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in those forward-looking statements. Management cautions the reader that the following factors, among others, may cause Stuart Energy"s plans or results to differ or
vary materially from those expected, including the impact of competition, codes and standards, pricing, market demand and marketplace acceptance, inability to complete development of products and other risks set forth from time to time in Stuart Energy"s filings with applicable securities commissions. There can be no assurance that any anticipated future results will be achieved.

Stuart Energy Media and Public Relations
Wanda Cutler
Phone: (905) 282-7769
Madelaine Duke
(604) 742-4258
Stuart Energy Investor Relations
Robert McGillivray
Phone: (905) 282-7727
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