VANCOUVER, British Columbia, March 15, 2005 (PRIMEZONE) -- UltraGuard Water System Corp.'s (OTCBB:UGRD) 100 percent owned subsidiary, Innovative Fuel Cell Technology Inc. (IFCT), is pleased to report the marketing progress of its magnesium powered fuel cell. The license granted from MagPower Systems Inc. (MagPower) provides the worldwide rights to manufacture and sell the magnesium-powered fuel cell for use with UltraGuard's ultraviolet disinfection filtration systems (UltraCell). The targeted market for the UltraCell will be third world countries where conventional power is unavailable, disaster areas and as a standby unit in developed countries for earthquake, tornado, flood and other disaster preparedness.
The Company's opportunity to commence marketing up to now had been slow but has been enhanced by numerous positive improvements in the development of the fuel cell. Based on information provided to the Company and recently reported in the business section of the Vancouver Sun newspaper, MagPower has made significant strides in its development efforts. A few of these developments are:
-- After three years from its original vision, the fuel cell has
been transformed from a 60-watt prototype into a 250-watt fuel
cell generator.
-- A significant advantage of the MagPower fuel cell over other
alternative fuel cells is its hydrogen inhibitors, a major
breakthrough perfected by their scientific team. reactions.
-- MagPower has developed the scientific means to control the
detrimental formation of hydrogen that occurs in electrochemical
reactions. When added to the salient solution and in combination
with the magnesium used for electric production, the production
of hydrogen is inhibited. Hydrogen, a naturally occurring
bi-product of the salt water and magnesium reaction, is both
dangerous and highly corrosive.
-- The signing by MagPower of a C$25 million license with Seawolf
Enviropower of Melbourne, Australia, a license with American
Infratec to build fuel cells for the US Marine Corp., and ongoing
discussions with the Chukoko electrical facility for use in its
telecommunication facilities, and British SiGen a marketer of its
own 100 watt fuel cell.
Reporting on the marketing of the UltraGuard UltraCell system. In February 2004, the Company granted a license to MagPower for marketing of the fuel cell in combination with UltraGuard's products. Shawn McGroarty, president and CEO of MagPower said, "The license we have to market UltraGuard's purification systems with the fuel cell in various countries of the world has recently seen serious activity. One inquiry from Nigeria, which UltraGuard has now quoted, involves the possible sale of 1,000 UltraCell systems per month for a three year period. In addition, we have seen a number of very serious inquiries from Japan and Third World countries." UltraGuard CFO, John Gaetz said, "Should we be fortunate enough to receive an order of the size quoted for shipment into Nigeria, the proceeds of the sale would provide the Company three years of assured cash flow."
"Safe Harbour Statement" under the Private Securities Litigation Reform Act of 1995: The statements contained in this news release include certain predictions and projections that may be considered forward-looking statements under securities law. These statements involve a number of important risks and uncertainties that could cause actual results to differ materially including, but not limited to, the performance of joint venture partners, as well as other economic, competitive and technological factors involving the Company's operations, markets, services, products and prices. With respect to UltraGuard Water Systems Corp., Inc., except for the historical information contained herein, the matters discussed in this news release are forward-looking statements involving risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, UltraGuard Water Systems Corp., Inc. extremely limited operating history, uncertainties related to the Company's access to additional capital, competition and dependence on key management.