July 24, 2008
Eden Hydrogen Inc. To Spur U.S. Hydrogen Economy
Eden Energy Ltd (ASX:EDE) today announced the formation of Eden Hydrogen Inc. to take a lead position in the emerging U.S. hydrogen economy. The company is an integration of two Eden Energy U.S. subsidiaries: Hythane Company of Denver, Colorado and HyRadix of Des Plaines, Illinois. The new company will be headquartered in Des Plaines, Illinois, just outside of Chicago.
"Eden Hydrogen is a milestone in our growing capacity to deliver integrated hydrogen solutions to customers in the U.S. and globally," said Greg Solomon, Executive Chairman, Eden Energy Ltd. based in Perth, Australia. "We have captured the hydrogen supply chain within a single, efficient company."Robert Gray has been named Chief Executive Officer of Eden Hydrogen Inc. He was formerly Chief Executive Officer of Eden Innovations Ltd. and a past president of HyRadix. Roger Mamaro, President of Hythane Company, will lead global operations and Dave Cepla, President of HyRadix, will lead global sales and marketing for the new company.
"As consumers in the U.S. and around the world demand cost effective and clean alternatives to petroleum, the market for hydrogen-based fuels and technologies is rapidly expanding," said Robert Gray, CEO, Eden Hydrogen Inc. "Eden Hydrogen is uniquely positioned to provide economical onsite hydrogen generation, delivery, and storage."
Eden's announcement comes days after the release of a U.S.-backed study, which recommends government funding of $55 billion over the next 15 years to ensure that hydrogen vehicles become competitive with petroleum-powered cars on U.S. roads. Hydrogen is seen by many as the next great source of energy worldwide. Major automakers have already introduced hydrogen fueled cars, and hydrogen power generation provides heating, cooling, and electricity in a variety of commercial settings. As concern about biofuels increases, hydrogen presents a clean, abundant alternative energy source.
Hythane(R) is Eden Hydrogen's patented, near zero emissions fuel blend of hydrogen and natural gas with applications in transportation and power generation. Hythane and its derivatives are used in many parts of the U.S., Canada, and worldwide. HyRadix is Eden's line of hydrogen reformers for onsite hydrogen generation. HyRadix technology has been used since 2004 at SunLine Transit in Palm Desert, CA to power alternative fuel vehicles such as HICE (hydrogen internal combustion engine) and Fuel Cell vehicles.
Eden Hydrogen Inc. is constructing the first public hydrogen fueling station in India as part of that country's commitment to have at least 20% of its vehicles running on Hythane(R) and other hydrogen-based fuels by 2020. The company has also announced encouraging results from its test of power generation units using a mix of Hythane(R) and petroleum diesel, including significant cost and harmful emissions reductions.
About Eden Hydrogen Inc.
Eden Hydrogen Inc., a U.S. subsidiary of Eden Energy Ltd (ASX:EDE), is a diversified clean energy company providing global hydrogen energy solutions. The company focuses on producing, storing, and delivering hydrogen solutions for industrial and consumer manufacturing processes, transportation fueling applications, and onsite power generation. Hydrogen technologies developed and marketed by Eden include HyRadix(R) on-site hydrogen generation systems and supply solutions and Hythane(R), a near zero emissions alternative fuel. For more information, please visit www.edenhydrogen.com or www.edenenergy.com.au. To view Eden Energy's eMedia Kit please visit: http://www.ccapreview.com/clients/eden/mediakit/.