February 12, 2010 16:59 ET
SymPowerco Corporation Renames Subsidiary to Polygenic Power Corp
GARDNERVILLE, NV--(Marketwire - February 12, 2010) - SymPowerco Corporation (PINKSHEETS: SYMW)
CEO John Davenport announced today that the company has received approval
to change the name of its wholly owned subsidiary, 1259529 Alberta Limited,
to Polygenic Power Corp ("PPC").
Effective immediately, Polygenic Power Corp will be responsible for the
implementation of the development plans for SymPowerco's various
technologies. SymPowerco recently completed a broad assessment of its
technologies and opportunities and will soon announce various initiatives
in support of its development plans.
Stated CEO, John Davenport, "Polygenic Power Corp will operate within
SymPowerco and will develop technologies for SymPowerco. As the owner of
PPC, SymPowerco will retain the rights to all PPC developments. The name
'Polygenic' reflects the genesis of various technologies within SymPowerco
and symbolizes the company's desire to move forward on multiple fronts."
"I want to add that SymPowerco is grateful for the patience of its
shareholders during this extended period while we developed our plans for
what we hope will be an exciting year for our company."
SymPowerco Corporation develops advanced fuel cell and power delivery
systems for the rapidly growing personal transportation and portable power
system markets that are being created by today's energy and environmental
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.