Company
About Us

Carthew Bay Technologies Inc. ("CBT"), formerly known as Astris Energi Inc., is an Ontario Corporation whose shares are quoted on the Over The Counter Bulletin Board ("OTCBB") in the US, (symbol "CWBYF").

In July 2007, the Company sold its fuel cell technology and related assets to MKU Canada Inc. for total consideration of US$5.8 Million including (i) approximately US$3.1 Million cash; (ii) forgiveness of US$1.6 Million of face value secured convertible debentures held by ACME Global Inc. (parent company of MKU Canada Inc.) plus accrued interest of US$175,000; (iii) redemption and cancellation of 4,248,750 shares acquired by ACME Global Inc. for US$.08 per share for nominal consideration; and (iv) forgiveness of US$600,000 in secured promissory notes.

In August 2007, existing Management resigned both as Officers and Directors, and the Company appointed existing Directors Michael Liik as the new President and CEO as well as Brian Clewes as the new CFO. New Directors Howard Drabinsky, Managing Partner, Lang Michener LLP, Rick Callander, Portfolio Manager, Marquest Investment Counsel Inc., Chris Besant, Partner, Cassels Brock & Blackwell LLP, were appointed to the Board as well as the continuance of long term Director Art Laudenslager.

It is CBT's objective to utilize this cash, its significant residual tax losses and its US public listing to seek out a new business opportunity. The Company believes that it is in an attractive position to do so given the collective business experience and networks of the new management group as well as Directors. CBT is currently evaluating a number of attractive opportunities and believes that it can consummate a transaction in the not to distant future.