PENN YAN, N.Y., Jan. 23, 2012 (GLOBE NEWSWIRE) — GreenCell Inc. has completed development on a new method for grinding Ultrafine / UltraPure conductive powders. Previous commercial methods produced a contaminant during grinding to the nano-scale level. The new method utilizes a clean ceramic as a ring grinder that has a density near lead. The new technology has been completed and tested for batch processing but a continuous grinding is possible in the future. This technology will be applied to GreenCell’s line of igniters, sensors, and fuel cell stacks.

About GreenCell, Incorporated

GreenCell is engaged in a joint venture with SenCer Inc. to develop, commercialize and market SenCer’s UltraTemp(TM) ceramic composite materials for Home and Transportation applications. GreenCell has identified multiple industries with significant commercial applications with potential revolutionary results. Some of the many applications for this technology are SOFC Fuel Cells, Igniters, Braking, Oxygen Sensors, and Ceramic Heaters.

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Safe Harbor Statement

This press release contains 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. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company’s current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company’s ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward-looking statements. A more extensive listing of risks and factors that may affect the Company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: GreenCell, Incorporated
Paula Bausman, Investor Relations
p. 407.363.5633

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Source: Globe Newswire (January 23, 2012 – 5:03 AM EST)