American Security Resources Corp. (OTCBB:ARSC) announced today that it has entered into a lease-purchase agreement on a new industrial facility for the primary use of its subsidiary, American Hydrogen Corp. The new 31,600 square foot building is being acquired from the Meigs County Community Improvement Corporation (www.meigscountyohio.com/spec_building.htm) with a lease-purchase funded by a low interest State of Ohio loan. Meigs County, Ohio is contiguous to Athens County where AHC offices at Ohio University (www.ohio.edu).
Benjamin Schafer, president of American Hydrogen and CTO of Hydra Fuel Cell, said, “This building gives us the space we need to develop our processes for the large industrial applications we have identified. We will also be assembling and doing systems integration of HydraStax® fuel cells and ACE (ammonia-catalytic-electrolyzer) units.”
Bob Farr, President and COO of ARSC, said, “In addition to this being a terrific deal for us, it gives us more that enough space for American Hydrogen’s needs, room for fuel cell assembly for Hydra and eventually we may even have a wind turbine assembly line here.”
“We are happy to welcome American Security Resources and this exciting technology to our community,” said Paul Reed, President of the Meigs County Community Improvement Corporation. Mick Davenport, President of the Meigs County Board of Commissioners, added, “American Hydrogen will be a wonderful asset to this region and to the entire State of Ohio.”
American Security Resources Corporation
ARSC is a holding company actively seeking to acquire and develop clean energy companies and technologies. ARSC’s Hydra Fuel Cell subsidiary has developed a high volume, mass producible hydrogen fuel cell. Its American Hydrogen Corp. subsidiary is commercializing an inexpensive method to produce hydrogen from ammonia. ARSC’s newly formed American Wind Power Corp. will be developing residential and small commercial vertical axis wind turbines. For more information, please see: www.americansecurityresources.com.
ARSC is a component of the Ludlow Energy SmallCap Index www.ludlowcapital.com/indices.
Safe Harbor Statement
This news release contains certain “forward-looking statements” within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward-looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations