SOURCE: symPowerco Corp.

February 26, 2009 09:45 ET

SymPowerco Enters Design and Manufacturing Discussions

GARDNERVILLE, NV--(Marketwire - February 26, 2009) - SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport today announces that the company has entered expanded joint development discussions with Hybrid Energy Technologies Inc. (HET) of Toronto, Canada. The discussions will investigate potential design and manufacturing synergies between the two companies. The discussions were initiated as a result of the previously announced SymPowerco Commercial Design Project.

The discussions relate to HET's flat plate battery technologies and SymPowerco's Flowing Electrolyte Direct Methanol Fuel Cell (FEDMFC) and how certain design and manufacturing facilities and processes might be combined in shared facilities.

SymPowerco and Hybrid Energy Technologies Inc. are partners in the development of hybrid power systems through their jointly owned subsidiary, Polygenic Power Systems Inc. (SymPowerco 70%, HET 30%).

Polygenic Power Systems Inc. manages all aspects of SymPowerco's FEDMFC 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 related technologies.

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.

Contact Information

  • Contact:
    Investor Relations
    775-636-8486
    Email Contact: Email Contact