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Los Alamos, NM April 30, 2002 -Manhattan Scientifics, Inc. (MHTX), a U.S. technology development company specializing in alternative energy, and Aprilia, Europe's second largest two wheel vehicle manufacturer, unveiled a new fuel cell powered scooter today at the International Paris Fair.
The scooter is an environmentally friendly electric concept vehicle called "MOJITO FC." Powered by Manhattan Scientifics' new 3000 watt fuel cell, the scooter is silent, pollution-free and ideal for urban use. Fueled by hydrogen, production models should be capable of covering 120 miles with a single fueling at a top speed of at least 35 miles an hour.
The MOJITO FC is the second Aprilia fuel cell powered concept vehicle developed with Manhattan Scientifics. The two companies previously developed the Aprilia ENJOY FC, a concept fuel cell powered bicycle. In 2001, the ENJOY FC bicycle received strong international press coverage and received one of Time Magazine's 2001 "Inventions of the Year" awards.
Manhattan Scientifics developed the vehicles with Aprilia to interest manufacturers and other parties in the advantages of fuel cell powered personal transportation. The company believes that in production, the fuel cell scooter will be highly competitive with and have many advantages over battery and gasoline powered scooters.
The new scooter uses Manhattan Scientifics' proprietary fuel cell technology developed by its German unit, NovArs GmbH. The fuel cell is a hydrogen/air system using advanced materials and unique technologies to minimize size and weight. The system operates under ambient conditions without additional ancillary equipment such as pumps or special cooling. The fuel cell system, including all electronics, valves and fans, weighs slightly less than 6 kg. The weight of the fuel vessel is only 4.3 kg.
Manhattan Scientifics believes fuel cell scooters with optimized drive systems will achieve a higher top speed and quicker acceleration than current vehicles with 50 and 80 cc internal combustion engines. In addition, with an integrated fuel supply, the scooter should provide at least twice the range of a battery driven vehicle on a single fueling.
Manhattan Scientifics' Chief Operating Officer Jack Harrod said, "This fuel cell powered scooter is a continuation of our efforts to introduce practical, alternative energy power for personal transportation. There are an estimated 100 million motorized two-wheel vehicles in use worldwide with the greatest number concentrated in the crowded cities of Asia. Global scooter production exceeds 17 million units annually and use is expanding. Pollution and noise are major problems in crowded cities particularly in Asia. In year 2000, an estimated 10 million noisy, polluting scooters were sold in China and 3 million in India. We believe our non-polluting fuel cell scooter could play an important role in helping to alleviate these conditions."
CEO Marvin Maslow said, "We believe our NovArs technology sets the benchmark as the smallest size and lightest weight engine in the budding fuel cell industry. This means our patented engine has particular application with portables -- everything from laptop computers to power tools to bicycles, scooters, golf carts, wheelchairs, and small boats. Imagine driving the new MOJITO scooter in total silence for 120 miles on a single fueling of inexpensive hydrogen. "
Maslow added, "Industry experts believe it might be a decade before we see true mass production and mass purchased fuel cell cars on our roads. But this need not be true for other smaller forms of fuel-cell-driven personal transportation, which are expected to play a significant role in the near term for "people moving." This has particular significance today with our emphasis on lessening our dependence on foreign imported oil. We are entering the hydrogen age. Hydrogen is the basic source of energy in the universe. The sun is fueled by hydrogen and our oceans contain a virtually inexhaustible supply of it. Eventually hydrogen will become a readily available inexpensive fuel and we will use it to power our homes, our transportation, our offices and our factories."
Manhattan Scientifics, Inc. (www.mhtx.com) is located in New Mexico, New York and Montreal. It is focused on technology transfer and commercialization of disruptive technologies in the nano medicine space. The company is presently developing commercial medical prosthetics applications for its ultra-fine grain metals and plans to commercialize the cancer research work and nano medical applications developed by Senior Scientific LLC, a unit of the Company.
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such forward-looking statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly update or revise any forward-looking statements.