SOURCE: Hybrid Energy Holdings, Inc.

March 02, 2010 09:13 ET

Hybrid Energy Steps Up Natural Gas Strategy as Pickens' Plan Shifts Efforts to Natural Gas

RENO, NV--(Marketwire - March 2, 2010) -  Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) reports that recent Natural Gas acquisition has received further endorsement as legendary oilman T. Boone Pickens, is still pushing plans to reduce dependence on foreign oil and has shifted more and more towards natural gas over wind power.

Most recently, Pickens has been supporting legislation that would provide large tax incentives to convert big rigs from diesel fuel to natural gas, according to USA Today. The so-called "Pickens Plan" includes founding, directorship and major stake in Clean Energy Fuels, which supplies natural gas for vehicle fleets; and increased stakes a number of natural gas producers.

The Company recently announced the closing of its acquisition of 9 energy proprieties in and around McAllen, Texas. The acquired operations consistently deliver profitably with strong recurring current and historical cash-flows. This important expansion of the company's portfolio results in 35 Billion Cubic Feet of known reserves and delivers an estimated $30,000,000 of shareholder value in active reserves and an additional estimated $145,000,000 in yet untapped reserves of current properties.

The equity-based transaction calls for the issuance of preferred stock at a strike value of approximately $6.9 million and delivers immediate profitability with actively productive, reliable properties and an estimated $175,000,000 in down-hole proven reserves value.

The Company is continuing its aggressive acquisition strategy and will provide timely updates as to the progress of this acquisition, as well as further Natural Gas and Clean Energy acquisition initiatives.

About Hybrid Energy Holdings
Hybrid Energy Holdings (HEH) acquires and operates profitable energy companies with strong historical cash-flow and sustainable profitability. HEH may acquire promising nascent energy technology or technology rights as portfolio enhancing assets. HEH's acquisitions are focused primarily on traditional and proven fuel production and the latest in energy conservation and power co-generation technologies. HEH's fuel production acquisitions provide expertise in the recovery of oil and gas reserves in both mature and marginal fields. The company's operational teams deliver production improvements and developmental and low risk exploration as part of its acquisition strategy for its fuel producing subsidiaries. HEH's primary business strategy is the acquisition of diverse, profitable energy related assets that provide synergistic profits and revenue enhancements across all portfolio companies.

HEH believes its combination of acquisition profitability and mitigated-risk funding structures provides ongoing portfolio viability and long-term shareholder equity appreciation.

The company maintains its web site at: www.HybridEnergyHoldings.com

Safe-Harbor Statement
This release contains statements or projections regarding future performance that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties. The company's disclosures contain various RISK FACTORS (and are incorporated herein by reference) and should be read before any investment decision.

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