H power announces the order of six Beta units by Gaz de France

CLIFTON, N.J. & PARIS, May 31, 2001 à‚– H Power Corp., a fuel cell development company, today announced the order of six Beta Residential Cogeneration Units, by a major European energy company, Gaz de France.

Via an amendment to its original Memorandum of Understanding with Gaz de France, H Power and Gaz de France have also confirmed that Gaz de France will be its preferred partner for the development of fuel cells in France. Additionally, the two companies have begun the process for obtaining the CE codes and standards marking necessary for the use and sale of products within any European Union member country.

As previously announced in November 2000, Gaz de France had installed an H Power residential cogeneration fuel cell system, powered by natural gas, in a model house on Gaz de France’s research and development campus in La Plaine Saint-Denise, a suburb of Paris. The background to the cooperation of the two companies includes the growing global need for continuous, reliable primary and backup electric power and the mounting desire of utilities to avoid costly operating expenses. In this environment, H-Power and Gaz de France strongly believe that France and other European territories are an ideal market for H Power’s leading fuel cell technology.

H. Frank Gibbard, Chief Executive Officer of H Power, commented, “We are delighted to be expanding, as well as strengthening our relationship with Gaz de France. This agreement marks H Power’s fifth international alliance, including agreements in Finland, Japan and Canada, and further demonstrates the strong global interest in our fuel cell technology.”

Jean-Pierre Piollat, Vice President Strategic Marketing of Gaz de France, stated, “We were very pleased with the successful alpha test of H Power’s fuel cell system last year in France. Gaz de France is looking forward to beginning the next phase of trials following the delivery of the six beta units recently ordered, with the goal of eventual commercial development across France.”

About H Power Corp.

H Power Corp. is a leading fuel cell development company and one of the first providers to complete a commercial sale of a proton-exchange membrane (PEM) fuel cell system. PEM fuel cells generate electricity efficiently and cleanly from the electrochemical reaction of hydrogen and oxygen. Hydrogen is typically derived from conventional fuels such as natural gas or propane, and oxygen is drawn from the air. H Power’s fuel cells are designed to provide electricity for a wide range of stationary, portable and mobile applications including residential cogeneration products for rural, remote homes, and backup power units for mobile applications. For additional information, please visit our website at www.hpower.com.

About Gaz de France

Gaz de France is a major European gas utility and a worldwide producer of all types of natural gas and associated energy services. The company is involved in exploration, production, trading, transportation, storage and distribution of natural gas. Gaz de France is also an industry leader in liquid natural gas technologies, storage and distribution.

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