SOURCE: HyPower Fuel, Inc.

February 18, 2009 07:00 ET

HyPower Fuel Announces Green Energy Joint Venture With Montana First Nation

WILMINGTON, DE--(Marketwire - February 18, 2009) - HyPower Fuel, Inc. (PINKSHEETS: HYPF) -- HyPower Fuel is pleased to announce that it has signed a Memorandum of Understanding (MOU) for the establishment of a Green Energy Joint Venture (JV). Under the joint venture, HyPower Fuel and Montana First Nation aim to advance opportunities in alternative energies utilizing HyPower's technologies and systems with Montana First Nation (Montana) in Alberta.

Mr. Douglas Bender, CEO of HyPower, commented that "we are pleased that Montana shares our vision for green energy technologies and wishes to be a leader and equal partner in utilizing HyPower's systems and technologies for this Joint Venture."

Mr. Bender explained that "the first task of the new 'Montana Joint Venture' would be to conduct a Pre-Feasibility Study for the establishment of a gasification plant to utilize Municipal Solid Waste (MSW) for electrical power generation."

Montana Councilor, Leonard Standing On The Road, expressed that "Montana is pleased to enter into the Montana Joint Venture with HyPower and is enthusiastic about the potential of this project in providing employment, economic stimulus and environmental benefits to its members and the region."

Mr. Bender stated that "HyPower sees this agreement as being the first step in the establishment of an Environmental Energy Center (EEC) which would see the use of all of HyPower's alternative energy technologies."

About the HyPower Environmental Energy Center Model

HyPower Fuel, Inc. is an environmental and alternative energy company that uses unique vision, technology and creativity to provide timely and cost-effective solutions. To accomplish this, HyPower has developed its Environmental Energy Center (EEC) model to partner with other leading, best-in-class technology companies in a variety of sectors. The EEC will also utilize HyPower's existing patented green energy innovations including its hydrogen production, biodiesel and water purification technologies.

Each EEC will be a stand-alone, environmentally sensitive industrial project whose business purpose is to produce green energy through recycling and/or using renewable resources. Ideally an EEC will produce green energy from available materials with nothing going unused thereby employing a true "waste to energy" methodology.

EECs are intended to be flexible in order to take advantage of regional opportunities and emerging technology developments. The very diversity of the technologies employed will ensure that each EEC will be economically competitive with large scale energy projects. EECs will be built on an expandable, modular basis to produce 10 to 50 MW of power per Center.

About HyPower Fuel, Inc.

HyPower Fuel, Inc. is a category leading company in the energy technology sector, focusing on providing innovative, clean alternative energies through unique methods. Currently HyPower has hydrogen insertion and production, biodiesel production and water purification technologies in development and/or in the product commercialization stage. For more information please visit: www.hypowerfuel.com

Safe Harbor

This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of HyPower Fuel, Inc. Certain statements in this release and other written or oral statements made by or on behalf of the Company are "forward-looking statements" within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward-looking statements are subject to a number of risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statements due to these risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.

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