| FuelCellStocks.Com Fuel Cell News August 20, 2005 Chiste Corporation Changes Name to HydroGen Corporation, Effects 1-for-25 Reverse Stock Split Source: Business Wire JEFFERSON HILLS, Pa.--(BUSINESS WIRE)--Aug. 19, 2005--Chiste Corporation, a developer and manufacturer of multi-megawatt air-cooled phosphoric acid fuel cell (PAFC) systems through its operating subsidiary, HydroGen LLC, announced today that it has changed its corporate name to HydroGen Corporation (OTCBB:HYDG) (the "Corporation") and completed a 1-for-25 reverse split of the Corporation's common stock. Prior to the reverse split, the Corporation had 186,189,958 shares of common stock issued and outstanding. On a post-reverse split basis, the Corporation now has a total of 7,447,599 shares issued and outstanding.
HydroGen Corporation, through its wholly-owned subsidiary, HydroGen, LLC, is a developer of multi-megawatt fuel cell systems utilizing its proprietary 400-kilowatt phosphoric acid fuel cell technology. This subsidiary will continue to operate as HydroGen LLC, with principal operations currently based in Jefferson Hills, PA. Utilizing fuel cell technology originally developed by Westinghouse Corporation, the company targets market applications where hydrogen is currently available and other drivers favoring the adoption of fuel cells are present. Forward-Looking Statements Except for historical information contained herein, the statements in
this release are forward-looking and made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements are inherently unreliable and actual results may differ materially.
Examples of forward-looking statements in this news release include statements
regarding HydroGen's anticipated economically competitive fuel cell systems.
Factors which could cause actual results to differ materially from these
forward-looking statements include such factors as fluctuations in demand
for HydroGen's products, HydroGen's ability to maintain strategic business
relationships, the impact of competitive products and pricing, growth
in targeted markets, the adequacy of HydroGen's liquidity and financial
strength to support its growth, and other information that may be detailed
from time to time in HydroGen's filings with the United States Securities
and Exchange Commission. HydroGen undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
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