Companies cite successes in development efforts, but decide to conclude joint venture to focus on strategic goals

Milan / Cambridge, Mass., July 18, 2002 – Nuvera Fuel Cells, Inc., and Air Liquide today announced their agreement to end their joint venture in the company Axane. Axane was formed in February of 2001 to develop and market power production systems based on fuel cell technology for various applications. Although both companies cited a successful joint development phase, each company will separately pursue fuel cell hydrogen technology development. Air Liquide will continue these development activities within Axane as a 100 percent Air Liquide owned company.

About Nuvera
Nuvera Fuel Cells is a leading designer and developer of fuel cell power systems, fuel processors, and fuel cell stacks for the automotive, distributed generation, commercial, and industrial markets. Since 1992, its fuel processors and PEM fuel cell stacks have been successfully tested and evaluated by major automobile and appliance manufacturers, research institutions, telecommunications organizations, and industrial and energy companies. Nuvera's fuel processors have demonstrated the ability to extract hydrogen from a number of liquid and gaseous fuels, including gasoline, ethanol, methanol, natural gas, kerosene, propane, butane, home heating oil, and diesel.

Contact
Robert Derby
Director, Marketing Communications
Nuvera Fuel Cells

Tel: +1-617-245-7571
Fax: +1-617-245-7571
Cell: +1-508-254-9668
Email: derby.r@nuvera.com