Costa Rica's Rocket Company $1.4M Agreements For R&D of Hydrogen Technologies

Ad Astra Rocket Company, Costa Rica, along with Costa Rica�s government- owned oil refinery , the Refinadora Costarricense de Petroelo (RECOPE), EARTH University and Costa Rica's Ministry of Environment, Energy and Telecommunications (MINAET), signed today two agreements related to research and development of technologies based on the use hydrogen as an alternative fuel.

The first agreement, signed by all parties, establishes a single framework for cooperation by the parties on research focused on renewable sources of energy in Costa Rica. The agreement facilitates future ones of a more specific nature between two or more of the parties on related projects and initiatives.

The second agreement, signed between Ad Astra, Costa Rica and RECOPE, for US$1.4 million, involves the implementation of a system for the storage of hydrogen and is based on a previous study completed by Ad Astra on April 12, 2012. The new project includes the design, fabrication and deployment of a high pressure hydrogen storage system, which could also be relevant to future applications in transportation.

The project seeks to achieve three specific objectives: 1) To learn and demonstrate adequate practices to process, generate, compress and store hydrogen, 2) To evaluate its potential economic, environmental and technological impact on Costa Rica's national energy strategy, and 3) to outline the steps needed to incorporate its use in public mass transit. RECOPE will finance the execution of the project and will also provide some personnel from its

organization as part of the work team. Ad Astra will provide its scientific and technological infrastructure as well as its project management and execution expertise to lead this initiative along the entire engineering process.

Several members of the signing parties expressed their comments: "We feel very honored and excited to be able to participate in this new step in Costa Rica's development," said Dr. Franklin Chang Díaz, CEO of Ad Astra. For his part, Jorge Villalobos, CEO of RECOPE, expressed his "hope to deliver something very new for the world."

René Castro was enthusiastic to see actual hydrogen and methane technology applications in Costa Rica: "it is a pilot plan in Costa Rica and the world, led by Ad Astra Rocket and supported by RECOPE, EARTH [University] and MINAET." Ronald Chang Díaz, General Manager of Ad Astra Rocket Company, Costa Rica, said that "it is a source of pride for Ad Astra Rocket to support the national effort for hydrocarbon independence."

Juan Ignacio Del Valle, Ad Astra's Hydrogen Project Manager, said that "this is the first step in a chain of technological events seeking the country's energy independence and the elimination of environmentally harmful emissions."