SOURCE: symPowerco Corp.

March 08, 2010 07:30 ET

SymPowerco Enters Phase II of Its Fuel Cell and HEV Projects

GARDNERVILLE, NV--(Marketwire - March 8, 2010) -  SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport today announced that the company has entered Phase II of its two concurrent prototype projects, the Flowing Electrolyte Direct Methanol Fuel Cell ("FEDMFC") Prototype Project and the Hybrid Power System Project for small Hybrid Electric Vehicles.

Phase II of the FEDMFC prototype project will include materials and equipment assessments for the various components that will constitute the fuel cell stack and the prototype's Balance of Plant. In addition, Phase II is intended to produce the complete CAD/CAM design plans of the advanced components that are required to satisfy the recently announced objectives of the program.

Phase II of the Hybrid Power System Project will include formal assessments of the materials and equipment required to test several types of power sources required for small Hybrid Electric Vehicle drive systems.

Stated CEO, John Davenport, "Phase II is intended to take both projects forward to the point of procurement of the equipment and material required for the assembly of the prototypes. Many aspects of Phase II are already at advanced levels of development and the company hopes to complete the remaining Phase II elements in an expedited manner."

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 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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