ZAP Signs $100 Million Exclusive Agreement for Apollo Fuel Cell Technology

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zap_logo.gifZAP (ZAPZ) announced that its automotive distribution subsidiary Voltage Vehicles has signed an exclusive agreement with Apollo Energy Systems of Pompano Beach, Florida for its fuel cell technology. Under the contract, ZAP’s Voltage Vehicles subsidiary has agreed to purchase up to $100 million in Apollo’s propulsion systems. Apollo has developed a patented Alkaline Fuel Cell and Tri-Polar Lead-Cobalt battery technology that is expected to revolutionize the auto industry. According to Apollo, the new fuel cell is ready for production, years before similar propulsion systems are expected to be available. [ more ] ZAPZ was up over 15% today on this news.