SOURCE: SymPowerco Corporation

June 19, 2008 08:30 ET

SymPowerco and HET to Expand Business Relationship

LAS VEGAS, NV--(Marketwire - June 19, 2008) - SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport today announces the company is negotiating the expansion of its business relationship with its partner, Hybrid Energy Technologies, Inc. (HET). SymPowerco and HET jointly own Polygenic Power Systems, Inc., (PPSI) of Toronto, Ontario, Canada (70% SymPowerco, 30% HET).

PPSI manages all aspects of SymPowerco's Flowing Electrolyte Direct Methanol Fuel Cell (FE DMFC) Program including in-house and institutional research and development, grant applications, and management of the multiple projects associated with the program. In addition, PPSI will be responsible for the marketing of the fuel cell, fuel cell hybrid power systems and all related technologies.

HET owns the exclusive rights to a unique flat-plate rechargeable battery technology. SymPowerco owns the exclusive rights to use HET's battery technology in Hybrid Power Systems that use Direct Methanol Fuel Cells.

SymPowerco and HET believe that their respective technologies, the FE DMFC and the flat-plate battery technology, when used together in Hybrid Power Systems, will create a formidable presence in the burgeoning Alternative Power Systems markets. SymPowerco and HET are receiving sufficient interest in their energy conversion and energy storage technologies that a combined approach to these markets is warranted.

John Davenport, CEO of SymPowerco, commented, "It's becoming evident that rapidly changing energy markets and the need for more advanced power delivery systems are creating some exciting possibilities for SymPowerco and HET. Together we have identified several markets that we should jointly pursue. We also see several technologies that we feel are best developed together. We will further define these opportunities and we expect to announce a new development agreement to address them in the very near future."

SymPowerco Corporation develops advanced fuel cell and power delivery systems for the rapidly growing personal transportation and portable power system markets being created by today's energy and environmental challenges.

Except for historical information contained herein, the matters set forth above may be forward-looking statements that involve certain risks and uncertainties that could cause actual results to differ from those in the forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend" and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors such as the level of business and consumer spending, the amount of sales of the Company's products, the competitive environment within the industry, the ability of the Company to continue to expand its operations, the level of costs incurred in connection with the Company's expansion efforts, economic conditions in the industry and the financial strength of the Company's customers and suppliers. The Company does not undertake any obligation to update such forward-looking statements. Investors are also directed to consider all other risks and uncertainties.

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