Zoltek to Supply Carbon Fibers for Ballard Fuel Cells

SAINT LOUIS, MISSOURI - February 22, 2001 - Zoltek Companies, Inc. today announced that it has been selected by Ballard Power Systems, widely recognized as the world leader in the development of low-emission or zero-emission fuel cells, to supply carbon fibers as one of the key materials to be used in the commercial production of its first portable fuel cell products. Zoltek will supply the carbon fibers used as the electrode material to make the cell's proton exchange membrane (PEM), the heart of the fuel cell.

Fuel cells produce clean electric power (with no burning or combustion) through an electrochemical process that combines hydrogen or traditional fuels with oxygen from the air, giving off water and electricity. Ballard fuel cell technology is enabling automobile, electrical generating and portable power product manufacturers to develop environmentally clean products. In developing PEM fuel cells, Ballard is partnering with strong, world-leading companies, including DaimlerChrysler, Ford, Honda, GPU Inc., ALSTOM, EBARA, and Coleman.

We are continuing to strengthen our supply base as part of our commercialization plan, said Tom Dielschneider, Ballard's Director of Supply Chain Management. Zoltek was responsive in delivering a product that met our standards for both quality and cost reduction as we continue on the path to commercialize Ballard fuel cells.

We are excited to be teamed with Ballard, the frontrunner in one of the most exciting and eagerly anticipated new technologies, said Zsolt Rumy, Zoltek's Chairman and Chief Executive Officer. Fuel cell technology represents a sizeable new application for our carbon fibers, which we expect to grow by assisting Ballard to successfully enter new commercial markets.

The forward-looking statements contained in this press release are inherently subject to risks and uncertainties. Zoltek's actual results could differ materially from those currently anticipated due to a number of factors, including the Company's ability to manage its growth, development of carbon fiber markets and the recently acquired businesses and amend or refinance its credit agreement.

Zoltek is an applied technology and materials company. Zoltek's Carbon Fiber Business Unit is primarily focused on the manufacturing and application of carbon fibers used as reinforcement material in composites. Zoltek's Intermediates Business Unit develops, manufactures and markets reinforcements, specialty resins, consumable supplies and manufacturing equipment for the composite manufacturing industry. It also does composite design and engineering to support the Company's materials business. Zoltek's Hungarian-based Specialty Products Business Unit manufactures and markets acrylic fibers, nylon products and industrial materials.

For further information contact:

Zsolt Rumy, CEO or Dan Greenwell, CFO
3101 McKelvey Road
St. Louis, MO 63044
(314) 291-5110