AccelRate Power Systems Inc.
TSX VENTURE : APS
FRANKFURT : KCG

AccelRate Power Systems Inc.

May 17, 2006 11:00 ET

AccelRate Retains AGORACOM Investor Relations

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2006) - AccelRate Power Systems Inc., (TSX VENTURE:APS)(FWB:KCG) a Canadian company focused on the development and commercialization of energy technologies and having developed the world's most advanced "High-Speed" battery charging technology that reduces charging time by as much as 80 percent, is pleased to announce it has retained the services of AGORACOM Investor Relations Corp. ("AGORACOM") (http://www.agoracom.com) to provide investor relations services.

The objective of this agreement is two-fold. Firstly, to create effective communication between AccelRate, its shareholders and the investment community through AGORACOM's Internet-based investor relations system. Effective immediately, a customized and monitored AccelRate IR HUB (http://www.agoracom.com/IR/AccelRate) will allow both AccelRate and AGORACOM to communicate with all investors simultaneously, anytime, while providing shareholders with equal access and complete transparency to all investor relations communications. The IR HUB will also provide one-click access to the AccelRate broker fact sheet, company profile, five most recent press releases, e-mail list registration, latest stock quote and chart information, and an executive audio address updated quarterly. In addition, the IR HUB provides investors with a monitored discussion forum for the purposes of constructive and high-quality discussion about the Company that is free of spam, bashing, hyping and profanity.

Secondly, AGORACOM will be fully responsible for creating, implementing and executing an investor relations strategy, the consolidation of which will save management a considerable amount of time, effort and expense, allowing them to focus on core business operations, while significantly improving shareholder communications.

AccelRate's CEO, Reimar Koch, stated, "Given the Company's continuing growth and recent licensing agreements with EnerSys and Hawker Powersource and resulting commercial product sales, we believe the time has now come to significantly increase our communications with shareholders and the investment community. The solution provided by AGORACOM fulfils our need to manage and execute an IR strategy in a cost efficient manner, while providing our management team with the ability to focus on executing the business plan. Our shareholders and Company will benefit greatly from near real-time communications, regularly planned updates and increased exposure."

For all future AccelRate investor relations needs, investors are asked to visit the AccelRate IR Hub at http://www.agoracom.com/IR/AccelRate where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to APS@agoracom.com where they can also request their addition to the investor e-mail list to receive all future press releases and updates in real time.

The terms of the agreement are as follows: Duration - 12 months. Monthly Cash Compensation - $3,000, paid through the Company's working capital. Stock Options - AccelRate will grant AGORACOM the option to purchase 150,000 common shares at $0.65, the closing price on April 25, 2006. AccelRate holds the option to grant AGORACOM an additional option to purchase 100,000 shares upon completion of the first three months of service. This agreement has been negotiated entirely at arm's length. AGORACOM is located in Toronto, Ontario.

This agreement is subject to regulatory approval.

About AccelRate:

AccelRate's proprietary charging technology functions effectively with batteries of all conventional chemistries and sizes in industrial, portable, power tool, military and transportation applications. AccelRate's technology provides customers with up to 80% decreased charging time, increased battery lifetime due to improved heat management, and decreased energy use.

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).

About AGORACOM Investor Relations Corp. http://www.agoracom.com http://www.AgoraIR.com.

AGORACOM Investor Relations Corp. (AGORACOM) is North America's leading outsourced investor relations firm for small-cap companies. AGORACOM's exclusive IR HUB delivers two-way investor relations and communications that provides 100% transparency, accessibility, equality and near real-time communications for all shareholders and the investment community. The digital delivery of investor relations also provides public companies with savings over traditional services ranging from 50-60%. AGORACOM is the exclusive provider of all content to the AOL Small Cap Centre, as well as, a small-cap content provider to Yahoo Finance Canada and all 4.3 million Blackberry devices around the world. AGORACOM is a private company founded by President George Tsiolis and has specialized in small-cap investor relations since 1997. AGORACOM currently does not have any direct or indirect interest in AccelRate, nor the intent to acquire any such interest, other than the options disclosed as part of the terms of the announced agreement.

ACCELRATE POWER SYSTEMS INC.

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 statement 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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