H₂ ECOnomy, an Armenia-based international high-tech fuel cell research company, on the second year in the row won a competition among over 150 organizations from all former Soviet Union countries to be one of the 12 participants of the Eurasian Innovation & Investment Forum taking place on March 27-28, 2006, in Falls Church, VA.

The objective of the Forum is to provide Eurasian participants with an opportunity to form business partnerships with Northern Virginia-based companies, investors and government organizations which share their goal of developing Northern Virginia-Eurasia collaborative projects and new business opportunities in science and technology.

The Forum was co-organized by the the U.S. Civilian Research & Development Foundation (CRDF), the Northern Virginia Technology Council (NVTC), and the Russian Foundation for Assistance for Small Innovative Enterprises (FASIE). It has attracted exciting technology commercialization opportunities from Russia, Ukraine, and Armenia; providing local businesses and ventures with a premier showcase of investment and partnership opportunities.

In addition to world-class sessions, participants previewed accessible, market-ready technologies from 12 of Eurasia’s fastest growing information & communication technologies (ICT), environmental energy and civilian security companies.

As other participants, H₂ ECOnomy’s president Agassy Manoukian sought to establish a local presence, business relationships and strategic partnerships for his company. His March 28, 2007 presentation at the Forum drew much attention, as H₂ ECOnomy was the only fuel cell company at the event. The presentation featured major breakthrough in Uninterrupted Power Supply (UPS) fuel cell technology: back-up power for hours, as opposed to competing systems that offer minutes. Validated by a U.S. Department of Energy research grant and covered by several patents, the Fuel Cell UPS Extender targets the currently underserved $10 billion extended coverage market.

H₂ ECOnomy is a vibrant research company leading the way to energy resources for the 21st century. The company was established in 2000 by Mr. Gerard Cafesjian, a prominent Minnesota businessman and visionary, with the goal of developing energy resources and investigating fuel cell technologies. The company’s expertise encompasses conductive composite materials, catalyst chemistry, polymer chemistry, electronic design, embedded systems and system integration. Knowledge in these fields has led to the creation of fuel cells for the educational and demonstration markets, sold worldwide through distributors in the US, Europe and Asia. Additionally, H₂ ECOnomy’s capabilities have been acknowledged by the receipt of a two-year US Department of Energy Initiatives for Proliferation Prevention research grant, and its extension to install a groundbreaking combination - photovoltaic powered electrolyzer and fuel cell system.