SOURCE: Hybrid Technologies, Inc.

February 15, 2006 07:56 ET

Hybrid Technologies Inc. (OTC BB: HYBT) and Paratransit, Inc. Jointly Announce Co-Venture and Vehicle Acquisition by Paratransit, Inc., North America's First Lithium Powered Taxi Fleet Set to

Change the Way Californians Travel

Vehicle Fleet Purchase Set to Work With Special Needs Californians -- Healthy Cab Concept World's First

LOS ANGELES, CA and NEW YORK, NY -- (MARKET WIRE) -- February 15, 2006 -- Hybrid Technologies, Inc. (OTC BB: HYBT) www.hybridtechnologies.com, emerging leaders in the development and marketing of lithium powered products worldwide, has executed a major co-venture with leading Californian not-for-profit transportation firm. The world's first lithium powered taxi service will support the growing demand for clean and accessible taxi cabs.

Hybrid Technologies has been contracted by Paratransit, Inc. to produce a PT Cruiser and a beta test Daimler Chrysler family van. The PT Cruiser was developed by Hybrid Technologies for government fleet replacement and large public sector organizations globally. The addition of a larger town and country model was a decision the Board approved based on current market data and the new contract with Paratransit, Inc.

The vehicles will service the Sacramento, California, area and will be used in the daily operations of Paratransit, Inc. The new Green Cab Program or Lithium Taxi Program is a joint effort by Hybrid Technologies and Paratransit, Inc. The unique partnership will include exclusive relations whereby Paratransit, Inc. will utilize Hybrid Technologies Inc. for all future lithium vehicle purchases.

Bill Durant, Director of Paratransit, Inc., stated: "As one of the leading and largest transportation providers of the Sacramento Region, we are proud to be working with Hybrid Technologies as we look to the future of public transportation. The ability to simply 'plug in' these vehicles as well as the functionality of their design has encouraged our agency to make the move to 'green technology.'"

Hybrid Technologies will be manufacturing the newly acquired vehicles and developing its newest vehicle offering, 'the Minivan,' in Mooresville, NC, under the direction of Project Engineer John Holmes.

Holly Roseberry stated, "We at Hybrid Technologies salute Paratransit for their forward-thinking business model and their commitment to community service. We look forward to a bright future with them."

The launch of the new lithium taxi service will be held in Sacramento, California with local, state and federal dignitaries in attendance. The event will mark a major advancement in fully electric service vehicles and is expected to be of significant interest to California State officials.

About Hybrid Technologies: www.hybridtechnologies.com

About Paratransit, Inc.: www.paratransit.org

Forward-Looking Statement

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.

Contact Information

  • For additional information, please contact:
    Investor Relations
    Telephone (888) 669-1808
    Fax: (702) 926-9508
    Email: info@hybridtechnologies.com