SOURCE: symPowerco Corp.

March 02, 2009 09:45 ET

SymPowerco Completes Design Specifications for Hybrid Electric Vehicle Prototype

GARDNERVILLE, NV--(Marketwire - March 2, 2009) - SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport today announces that the company has established the design criteria for its Hybrid Electric Vehicle (HEV) Prototype and will submit the specifications to an automotive laboratory in anticipation of the joint design, construction and testing of the prototype. The HEV prototype will serve as a test bed for the design of SymPowerco's Hybrid Power Systems. SymPowerco plans to enter the Hybrid Power Systems markets with its unique Flowing Electrolyte Direct Methanol Fuel Cell (FEDMFC).

SymPowerco recently announced that it had entered discussions with an automotive laboratory for the design, construction and testing of the HEV.

The first HEV prototype will be an electric golf cart in which the company expects to reduce battery weight by as much as 70% through the employment of a hybrid power system that maintains battery charge during the cart's operation.

The objectives of the HEV Project are to determine optimal battery requirements for the HEV, to confirm the System Control and Data Acquisition (SCADA) specifications for SymPowerco's Hybrid Power Systems, to determine the fuel cell power delivery requirements of the Hybrid Power Systems under various load conditions and to determine the design issues involving the retrofitting of existing plug-in electric vehicles with SymPowerco's fuel cell and hybrid power technologies.

SymPowerco has identified extensive markets for FEDMFC Hybrid Power Systems including golf carts, small industrial vehicles, three-wheeled taxis in the Far East (Tuk-Tuks), motorbikes and similar small vehicles. Many national and local governments in the Far East wish to replace millions of gas-powered motorbikes and taxis with electric vehicles that do not require plug-in rechargers.

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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