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Whistler Inc. completes acquisition of fuel cell technology


SACRAMENTO, Calif., May 10, 2002 — Whistler Inc. on Friday announced the completion of co-ownership of the patents of Anuvu’s Carbon-X fuel cell, an innovative Proton Exchange Membrane (PEM) fuel cell specifically designed for mass production.

Anuvu Incorporated received USD$600,000 and 750,000 shares of Whistler, Inc.’s treasury stock. The Company is presently negotiating for the remaining 50% of the fuel cell division of Anuvu, in exchange for shares in the Company and a cash payment.

The Carbon-X design and technology is mass production-ready and incorporates key features that will facilitate integration into real-world fuel cell powered products. Unlike competing fuel cells, the Carbon-X fuel cell can be produced using industry-standard manufacturing technologies without the need to build custom manufacturing lines.

The scalability of the Carbon-X fuel cell and the design expertise developed during the execution of the commercialization plan will position the Company as an early leader in the market for mass-produced fuel cells. There are currently no fuel cell companies delivering fuel cells to the commercial market, resulting in a pent-up demand for units operating in the 1-5 kW range.

Whistler, Inc. plans to complete the technology transfer and begin putting the fuel cells into the hands of Original Equipment Manufacturers (OEMs), co-development partners and eventually consumers. The plan includes the development of three manufacturing lines in three distinct capacity/market phases. In the initial stage, a pilot plant will be constructed to demonstrate manufacturing concepts and provide low-volume fuel cell production.

During this phase, Whistler will work closely with OEM design teams to facilitate fuel cell integration into product designs. The second phase will focus on the construction of a second fully integrated plant with a capacity sufficient for beta test fuel cell products and initial commercial test markets. The final stage will involve expansion of the automated plant facility to produce high volumes of fuel cells at a price that is economically competitive with conventional technologies used by OEMs.

Whistler, Inc. is currently establishing strategic relationships and development contracts with reputable OEMs whose products are suitable for fuel cell integration.