AccelRate Power Systems Inc.

AccelRate Power Systems Inc.

November 26, 2007 16:51 ET

AccelRate Power Systems Inc.: Private Placement Closes

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - AccelRate Power Systems (TSX VENTURE:APS)(FRANKFURT:KCG), the technology leader in "High-Speed" battery chargers, announces that it has completed the non-brokered private placement of 1,292,113 units announced on November 9, 2007, realizing gross proceeds of $232,580.00. Each Unit is comprised of one common share and one-half warrant, each whole warrant exercisable to purchase one additional common share in the capital of the Company at $0.22 until November 20, 2008.

All shares issued in connection with the private placement and any shares issued on exercise of warrants comprised in those units will be subject to a four-month hold period expiring March 20, 2008.

Proceeds from the placement will be used as working capital for the operation of the company's business, develop new products, and to continue its sales and marketing efforts.

AccelRate's proprietary charging 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. AccelRate® SC "High-Speed" battery chargers are commercially available today for the motive power market.

AccelRate Power Systems 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 and CEO

This new 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.

Contact Information