-- ChevronTexaco intends to provide the design and construction of up to
six hydrogen fueling stations to be operated primarily in California,
including sites at U.C. Davis and the Hyundai America Technical Center
in Chino, Calif. An additional station may be located in the
Northeastern United States to test performance under cold climate
conditions.
-- These stations will be test platforms for both "well-to-wheels"
hydrogen systems and individual elements of the systems, including
hydrogen generation, power stations, fueling procedures, fuel cells and
design codes.
-- Hydrogen fueling station plans will include providing hydrogen fuel to
Hyundai's fuel cell hybrid electric vehicle (FCHEV) fleet. In some
locations the vehicle fueling stations will also co-generate power
using stationary fuel cells.
-- Throughout the project Hyundai will provide a fleet of up to 32
hydrogen-fueled Tucson fuel cell vehicles, powered by UTC Fuel Cells
power plants.

Project collaborators including AC Transit of Oakland, Calif., Hyundai American Technical Center, and Southern California Edison will serve as vehicle fleet operators and site hosts for hydrogen fueling and power generation stations.
"Public-private partnerships are key to addressing transition challenges for a hydrogen economy," said Dr. Donald Paul, ChevronTexaco vice president and chief technology officer. "Programs such as the hydrogen fleet vehicle and infrastructure demonstration program, California Fuel Cell Partnership and the FreedomCar fuel initiative sponsored by the Department of Energy are a few excellent examples that are bringing auto, energy and technology companies together with the government to advance and validate hydrogen technologies."

"Hyundai is committed to alternative energy, environmentally friendly automobiles and this demonstration program will push us closer to commercialization of hydrogen powered fuel cell vehicles," said Dr. Won Suk Cho, president, Hyundai America Technical Center, Inc., which is responsible for alternative fuel research in the United States. "With world-class partners and the support of the United States government, we expect our work in the next five years will usher in an era of sustainable mobility."

"There is no substitute for real world technology validation," said Jan van Dokkum, president of UTC Power, which includes the UTC Fuel Cells unit. "UTC Fuel Cells is excited by this opportunity to demonstrate the performance of its power plant as part of the Department of Energy's integrated system solution approach in an operating environment."

ChevronTexaco Corp., the second-largest U.S.-based energy company, leads this international energy and automotive collaboration through its subsidiary ChevronTexaco Technology Ventures L.L.C. ChevronTexaco Technology Ventures is investing and developing expertise in hydrogen production, storage and dispensing. Chevron Energy Solutions, a major provider of energy services and energy project management to public institutions, will manage the hydrogen station construction.

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. It is anticipated that the hydrogen fueling station will generate enough hydrogen to power a fuel cell that can provide electric power to a small office building or 10 homes on an on-going basis. The hydrogen generated from the fuel processor could power up to five fuel cell vehicles.

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 Tucson SUV platform. These vehicles will feature greater range (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.

About ChevronTexaco:

Currently celebrating its 125th anniversary, ChevronTexaco is the second- largest U.S.-based energy company and the fifth largest in the world, based on market capitalization. More than 50,000 ChevronTexaco employees work 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 the company is available at www.chevrontexaco.com.
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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.

Chevron Energy Solutions, an energy services company and wholly-owned subsidiary within ChevronTexaco, engineers, installs and manages energy- related projects for institutions and businesses.

About Hyundai Motor Co.:

Established in 1969, Hyundai Motor Co. has grown into the Hyundai Automotive Group, which includes Kia Motors Corp. and over two dozen auto-related subsidiaries and affiliates. Employing nearly 50,000 people worldwide, Hyundai Motor posted US$21.94 billion in sales in 2002. Hyundai motor vehicles are sold in 166 countries through 4,504 dealerships and showrooms. Further information about Hyundai Motor Co. and its products is available on the Internet at http://www.hyundai-motor.com/ .

Hyundai America Technical Center, Inc. is a wholly owned subsidiary of Hyundai Motor Company of Korea. It is responsible for the technical development of automobiles in North America, including governmental certification issues. Its headquarters are located in Ann Arbor, Mich., with two branch offices in the Los Angeles area.

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. (NYSE:UTX) . 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.

Source: ChevronTexaco Corp.

Web site: http://www.utcpower.com/
Web site: http://www.hyundai-motor.com/
Web site: http://www.chevrontexaco.com/