Hyundai Fuel Cell Vehicle Fleet Testing Launches at Unveiling of Hydrogen Energy Station

Hyundai Motor Co., UTC Fuel Cells and ChevronTexaco Launch Hydrogen Fleet and Infrastructure Project at Ceremony in Chino

CHINO, Calif., Feb. 18 -- Hyundai Motor Co. in partnership with UTC Fuel Cells and ChevronTexaco today unveiled a Hydrogen energy station at the Hyundai-Kia America Technical Center in Chino, Calif. The project is part of a Department of Energy-sponsored Hydrogen Fleet and Infrastructure Demonstration Validation Program.

The new Hydrogen energy station will fuel a fleet of five Hyundai Tucson and Kia Sportage Fuel Cell Electric Vehicles (FCEVs) based out of the Hyundai-Kia America Technical Center. Other fleets will be tested out of AC Transit in Oakland, Calif. and Southern California Edison over the duration of the program.

The Chino hydrogen energy station is part of a five-year U.S. Department of Energy cost-sharing program that is designed to demonstrate safe, practical hydrogen technologies in real-world settings. ChevronTexaco Technology Ventures is leading the project in collaboration with Hyundai Motor Co. and UTC Fuel Cells.

"We are pleased to partner with ChevronTexaco and UTC Fuel Cells to demonstrate that together, our companies are helping lead the way to a future of sustainable energy and transportation," said Dr. Joon-Chul Park, executive vice president of the Advanced Technology Center at the Hyundai-Kia Research and Development Division in Korea. "We believe there is a strong future in Hydrogen fuel cell technology and today, with the opening of this energy station, we are bringing the future to the present."

The goal of fleet testing is to refine fuel cell technology in real-world driving conditions. Over the next five years, Hyundai hopes to improve durability, efficiency and reliability in its fuel cell vehicles in preparation for future commercialization. Additional testing is also planned under cold-climate conditions.

Hyundai Motor Co. is a leader in adapting fuel cell technology for automotive applications. Hyundai became a member of the California Fuel Cell Partnership in 2000, and its first-generation vehicles are decorated veterans of the Michelin Challenge Bibendum -- an international competition for alternative energy vehicles. In 2003, Hyundai and UTC Fuel Cells agreed to collaborate on Hyundai's second-generation fuel cell vehicles based on the new Hyundai Tucson and Kia Sportage SUV platforms. These vehicles will feature greater range (almost 200 miles), more power (80kw) and be capable of starting in freezing temperatures.

UTC Fuel Cells is aggressively developing Proton Exchange Membrane (PEM) fuel cell technology for automotive and fleet vehicle applications. UTC Fuel Cells' proprietary ambient-pressure approach to fuel cell design allows for a quieter, smaller, and more efficient fuel cell system that is easier to install in a vehicle.

ChevronTexaco Technology Ventures provides proprietary technology to convert hydrocarbon feedstocks, such as natural gas, into hydrogen. This proprietary technology can be integrated into a hydrogen fueling and power system to support hydrogen-powered fleets and to provide clean electric power. The Chino site is designed for fleets only and does not include a stationary fuel cell. Future full-scale hydrogen energy stations could be designed to include a stationary fuel cell to generate ultra-clean power.

The first vehicle demonstrated at the site was driven by legendary racecar driver Mario Andretti, who drove-up in Hyundai's Tucson FCEV to show how fueling stations of the future may operate.

About Hyundai Motor Co.:

Established in 1967, Hyundai Motor Co. has grown into the Hyundai Kia Automotive Group which includes over two dozen auto-related subsidiaries and affiliates. Employing over 57,000 people worldwide, Hyundai Motor posted US$26.1 billion in sales in 2004 (on a non-consolidated basis). Hyundai Motor vehicles are sold in 193 countries through some 5000 dealerships and showrooms. Hyundai Motor Co. is a sponsor of the 2006 FIFA Germany World Cup. Further information about Hyundai Motor Co. and its products is available at http://www.hyundai-motor.com/

About UTC Fuel Cells:

UTC Fuel Cells (UTCFC) is a world leader in fuel cell production and development for commercial, transportation, and space applications. UTCFC is part of the UTC Power unit of United Technologies Corp. UTC Power is focused on the growing market for distributed generation to provide clean, efficient, and reliable power as well as on the development of fuel cells for transportation applications. More information on UTC Power and UTC Fuel Cells can be found at www.utcpower.com.

About ChevronTexaco:

ChevronTexaco Corp. is one of the world's leading energy companies. With more than 47,000 employees, ChevronTexaco conducts business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and marketing and distributing fuels and other energy products. ChevronTexaco is based in San Ramon, Calif. More information on ChevronTexaco is available at chevrontexaco.com. ChevronTexaco Technology Ventures L.L.C., a subsidiary of ChevronTexaco, identifies, develops, and commercializes emerging technologies and new energy systems that have the potential to create economic value for the company. This includes investments in hydrogen-related technologies, advanced energy storage technologies, renewables and nanotechnology. ChevronTexaco Hydrogen Company, a division of Chevron U. S.A. Inc., is a subsidiary of ChevronTexaco that designs and builds hydrogen energy stations.