Livermore, CA, Jan. 19, 2006 — Power Air Corp., formerly Fortune Partners Inc., announced its new name, chosen to emphasize its entry into the alternative energy sector. The company’s change in name was effected with the Nevada Secretary of State on December 22, 2005 with the change in the company’s trading symbol to PWAC.
On September 30, 2005, Power Air, through its acquisition of Power Air Tech Inc., acquired exclusive fuel cell technology from Lawrence Livermore National Laboratories (LLNL) that the company says will allow it to generate safe, quiet, and reliable, zero emission energy for portable, stationary and transportation applications. Since that time the company has assembled a senior management team of industry veterans to undertake the commercialization of the LLNL technology.
Unlike hydrogen fuel cells and internal combustion engines, Power Air’s technology is fueled with zinc, which is non-flammable and non- explosive, inexpensive and easy to transport and store.