AccelRate Power Systems Inc.

AccelRate Power Systems Inc.

November 09, 2007 15:07 ET

AccelRate Announces Increased Interest in Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2007) - AccelRate Power Systems ("AccelRate") (TSX VENTURE:APS)(FRANKFURT:KCG), the technology leader in "High-Speed" battery chargers, announced the private placement of 460,000 units previously outlined in a news release dated October 11, 2007, has been increased to approximately 1.3 million units at $0.18 per unit, which increases the gross proceeds to approximately $233,000. Each Unit will consist of one common share and one-half non-transferable share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of the Company for $0.22, for up to one year after closing.

"We are very pleased with the increased interest shown in the company," stated Reimar Koch, President and Chief Executive Officer. "The additional funds will be used for working capital purposes."

The private placement is subject to acceptance of the TSX Venture Exchange.

About AccelRate:

The superiority of AccelRate's technology is evident in its Smart Charge High-Speed charging technology, which has been recognized by such companies as Hawker Powersource, a subsidiary of EnerSys, the world's largest manufacturer, marketer and distributor of industrial batteries. Hawker Motive Power has licensed AccelRate's technology, which is incorporated into Hawker's LifeSpeed 3000 series of battery chargers.

AccelRate's technology allows 24 to 80 volt batteries to be recharged while in situ on the vehicles, making the most of charging opportunities during rest periods. In addition to the considerable energy savings, battery handling systems and additional batteries are eliminated, thereby reducing the risks of accidents.

AccelRate is headquartered in Vancouver, BC. AccelRate's shares trade on the TSX Venture Exchange (symbol APS), and on the Frankfurt Exchange (symbol KCG).


Reimar Koch, President

This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not undertake any duty to update any forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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