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Parker Hannifin and WATT Fuel Cell Establish Strategic Licensing and Supply Agreement to Commercialize Fuel Cells



  Parker Hannifin and WATT Fuel Cell Establish Strategic Licensing and Supply
  Agreement to Commercialize Fuel Cells

Business Wire

PORT WASHINGTON, N.Y. -- January 8, 2013

WATT Fuel Cell Corp., a developer and manufacturer of solid oxide fuel cell
(SOFC) systems, announces the establishment of a strategic licensing and
supply agreement with Parker Hannifin Corporation (NYSE: PH), the global
leader in motion and control technologies. The agreement, established through
Parker’s Energy Systems Business Unit, stipulates Parker’s production of a
family of propane-driven, SOFC-based products for the RV, marine,
over-the-road trucking and residential markets.

Combining Parker’s core expertise in controls, fluid management and product
development with WATT’s cost-effective fuel cell technology, the agreement
includes Parker’s exclusive license of WATT Fuel Cell’s innovative, low-cost
balance-of-plant (BoP) technology and exclusive stack supply for use in 500-
to 3000-watt RV, marine and over-the-road trucking markets. Parker will
manufacture the BoP and controls and also integrate the fuel cell stacks into
complete, packaged SOFC products.

“This agreement between Parker and WATT is a definitive step towards making
fuel cells a reality for everyday commercial use,” said Dr. Caine Finnerty,
president of WATT Fuel Cell. “Melding Parker’s longstanding expertise in
motion and control technologies and systems and extensive market access with
WATT’s economically scalable fuel cell products allows the combined strengths
of both companies to shine.”

“Parker has been a key player in the sub system and components aspects of the
fuel cell industry for more than a decade now,” said Steve Knight, Parker
Energy Systems business unit manager. “We’re very excited to be integrating
WATT’s technologies into our own fuel cell-based products focused on
applications that are well-suited to leverage the quiet, lightweight and
environmentally friendly benefits of fuel cells. We are currently focused on
design verification, testing and certification as we prepare for select OEM
testing in the near future.

“Cost and reliability have long been barriers to entry for a commercially
viable fuel cell based product,” Knight said. “WATT Fuel Cell’s technologies
were selected by Parker due to their cost-effective manufacturability,
reliability and overall suitability to commercial markets, particularly their
ability to run on readily available fuels.”

“We are very excited with the results of our initial 500-watt system tests
with Parker Hannifin,” said Paul DeWald, director of systems for WATT Fuel
Cell. “The momentum from this success has continued into our recent
demonstration of a 1-kilowatt power output on propane fuel. Doubling the
capacity of our technology in just four weeks, we’ve substantially widened the
markets we can address.”

About Parker Hannifin

With annual sales exceeding $13 billion in fiscal year 2012, Parker Hannifin
is the world's leading diversified manufacturer of motion and control
technologies and systems, providing precision-engineered solutions for a wide
variety of mobile, industrial and aerospace markets. The company employs
approximately 60,000 people in 48 countries around the world. For more
information, visit the company's web site at www.parker.com.

About WATT Fuel Cell

Located in Port Washington, N.Y., WATT Fuel Cell Corp. is a clean-tech company
with a wide range of capabilities, including the fabrication of materials,
components and sub-assemblies to support state-of-the art solid oxide fuel
cell (SOFC) technology. WATT engineers its fuel cell products based on the
“CORE” approach – Cost-Optimized, Reliable-Energy – which is focused on
commercial viability and flexibility. WATT’s newly refined method to make
complete SOFCs using additive manufacturing is a stand-out example of the
company’s leadership in the industry with low-cost manufacturing.

For additional information, visit www.wattfuelcell.com or email
info@wattfc.com.

Contact:

Parker PR, Inc. (firm is not affiliated with Parker Hannifin)
Jennifer Parker, +1-716-316-2097
jparker@parker-pr.com
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