Bac2
July 2006

Fuel cell materials innovator Bac2 strengthens board by appointing Chairman and Non-Executive Director

Southampton, UK, 28 July, 2006: Bac2, the fuel-cell materials company, has announced two new appointments to the board as it strengthens the management team following a recently-completed £500,000 investment round. James Lewis joins as Chairman and Director of Sales and Marketing, and Michael Burrow as Non-Executive Director. Both are also investors in the company.

Lewis (44) is an electronics engineer and entrepreneur who has worked in Europe and the United States. He co-founded Oxford Semiconductor in 1992 and headed up its sales and marketing activities, turning it into a global business with 150 employees. After returning to the UK from the US James formed Parallaxis (http://www.parallaxis.com) to apply his experience and knowledge in supporting start-up and small hi-tech companies to realize their full potential. James has a degree in electronic engineering from the University of London.

Burrow (54) is a former investment banker with 25 years' experience in corporate finance, specializing in M&A, IPOs, equity issues and other capital markets transactions. Most recently, he was managing director at Lehman Brothers in London with overall responsibility for the bank's strategic relationships with clients. Prior to this, Burrow was financial adviser to the Philippines for the development of major industrial projects, structural engineer with Skidmore, Owings & Merrill in Chicago and software developer for Ove Arup & Partners in London. His education includes a BSc in civil engineering from Southampton University, an MS in structural engineering from Northwester University in Chicago and an MBA from London Business School.

Commenting on the new appointments, Bac2's CEO, Mike Stannard said, “We are very fortunate to have the support of both James and Michael as we move into the commercialization phase of our business. The fact that these highly experienced individuals have also chosen to invest in Bac2 speaks volumes for their belief in our ability to produce technically and commercially attractive components for the emerging fuel cell market.”

Bac2 is the developer of ElectroPhen, an electrically conductive polymer used to produce bi-polar plates for Polymer Electrolyte Membrane (PEM) fuel cells. The material promises lower costs and improved ruggedness and reliability in this application.