Joint agreement targets research into alternative power sources for sustainable development

Milan / Cambridge, Mass., July 4, 2002 – Nuvera Fuel Cells today announced it reached a multi-year agreement with French automaker Renault to pursue research and product development into multi-fuel processing technologies for fuel cell vehicles. The joint program seeks to deliver by 2004 a fuel processor that can be adapted to on-board vehicle requirements for Renault.

The goal of this wide-reaching research program is to enable Renault to launch a technically, economically, and environmentally viable fuel cell vehicle by 2010. Renault's fuel cell research efforts complement a long-standing, socially responsible commitment to minimizing greenhouse gas emissions and fuel consumption.

"This is a major milestone for Nuvera and the future of fuel cell vehicles," said Roberto Cordaro, President and CEO of Nuvera Fuel Cells. "Our development efforts in fuel processing over the past few years are proving critical to the near-term commercial viability of fuel cells."

Working with leading OEMs such as Renault, Nuvera is accelerating the development and commercialization of its automotive platform of high-performance fuel cell stacks and world-leading multi-fuel processors. Through continuing efforts, Nuvera's products will address multiple automotive applications such as range extenders for electric vehicles and primary power for passenger cars.

Nuvera Fuel Cells
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