VANCOUVER, BC – August 4, 2010 – IBC Advanced Alloys Corp. (TSX-V: IB) (“IBC” or the “Company”) announces that it has signed a binding letter agreement (the “Agreement”) with Hydrogen Link Inc. (“HL”) to advance HL’s leading edge and proprietary lithium beryllium hydrides technologies for hydrogen storage and fuel cell applications. HL is a leading materials research company focused on hydrogen storage, fuel cell and complementary technologies. HL is based in Montreal, Quebec where it has worked closely with McGill University to develop and advance hydrogen storage and complementary fuel cell technologies.
Under the terms of the Agreement, the parties have agreed to an exclusive six-month arrangement, in which they will collaboratively complete an industry study on solid-state hydrogen storage cells and related applications. The parties will work together to identify potential industry partners, with a view to forming a joint venture, to improve and expand on lithium beryllium metal hydride technologies and to establish a market for energy-efficient hydrogen storage and fuel cell infrastructure.
Central to the project will be HL’s patented technology for lithium beryllium hydrides which are a new group of metal hydrides for hydrogen storage. Being the lightest metals in the Periodic Table, lithium and beryllium, combined with hydrogen, show the highest viable and reversible hydrogen capacity at practical temperatures of all known metal hydrides. Measurements of equilibrium pressures of the Li–Be hydrides indicate that these materials can be used at temperatures down to 150°C. These materials are fully reversible and safe and offer a new prospect for hydrogen storage, especially for small-scale applications, such as laptops and other portable devices, where capacity is critical.
“We are very excited to join IBC in developing our hydrogen storage technology,” said Alicja Zaluska, HL’s president and lead researcher. “We look forward to advancing our work with IBC and joint venture partners to fund and support our research. Lithium beryllium hydrides offer dramatic results,” continued Dr. Zaluska, “for hydrogen fuel storage and fuel cell applications, and have the potential for significant economic and operating benefits for the fuel cell and hydrogen storage industries.”
“IBC Advanced Alloys Corp. is pleased to sign this agreement with Hydrogen Link and to support an industry with so much potential,” said Anthony Dutton, President and CEO of IBC. “Hydrogen Link’s advancements in hydrogen storage technology are particularly valuable for IBC presenting multiple opportunities to incorporate beryllium with other materials, such as hydrogen and lithium, into new commercial applications. This agreement reinforces IBC’s dedication to strengthening its R&D portfolio and to working with leading companies to develop and promote emerging technologies, particularly in the sustainable energy sector.”
Hydrogen Link provides new and resourceful solutions to the challenges of emerging hydrogen technology, achieving this through research related to new hydride systems and catalysts. HL’s primary research is the development of new light-weight materials and catalysts for solid-state hydrogen storage, to assist with the practical and energy-efficient delivery of hydrogen for fuel cell and hydrogen internal combustion engine applications. The solid-state hydrogen storage technology is based on the use of metal hydrides—compounds (including beryllium hydrides) which are able to reversibly absorb hydrogen and thus allow to eliminate the storage of hydrogen under very high pressures.
About IBC Advanced Alloys Corp.
IBC is an integrated manufacturer and distributor of rare metals (beryllium) based alloys and related products serving a variety of industries including nuclear energy, automotive, telecommunications and a range of industrial applications. IBC has 80 employees and is headquartered in Vancouver, Canada with production facilities in Pennsylvania, Indiana, Massachusetts and Missouri. Additionally, IBC owns prospective beryllium properties in the Western US covering approximately 9,500 hectares. IBC is creating a dynamic global beryllium and advanced alloys company. IBC’s common shares are traded on the TSX Venture Exchange under the symbol “IB”. See IBC on Facebook.
This news release was prepared by management of IBC, which takes full responsibility for its contents. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Legal Notice Regarding Forward Looking Statements
This disclosure contains certain forward-looking statements that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company’s control including: the impact of general economic conditions in the areas in which the Company operates, industry conditions, changes in laws and regulations including the adoption of new environmental laws and regulations and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in commodity prices, foreign exchange or interest rates, stock market volatility and obtaining required approvals of regulatory authorities. In addition there are risks and uncertainties associated with manufacturing operations and mineral exploration, therefore the Company’s future results, performance or achievements could differ materially from those expressed in these forward-looking statements will transpire. All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances.
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