SOURCE: symPowerco Corp.

July 08, 2008 08:30 ET

SymPowerco Expands Partnership Negotiations

LAS VEGAS, NV--(Marketwire - July 8, 2008) - SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport, announces today that the company has entered negotiations aimed at establishing further technological relationships identified by a broad-based review of the company's Flowing Electrolyte Direct Methanol Fuel Cell (FE FMFC) technologies.

The review included the previous corporate and academic developers of the company's 5W FE DMFC. The development of SymPowerco's FE DMFC has also included programs conducted by the Technical University of Graz (Austria), the Canadian National Research Council and the Alberta Research Council. Approximately $10 million has been invested in the technology to date.

Stated SymPowerco CEO John Davenport, "The discussions we've had with the previous participants indicate that our 5 Watt FE FMFC is sufficiently advanced that we can very much narrow the focus of our development needs. SymPowerco has already begun the negotiations needed to bring the needed expertise and relationships on board. We expect these relationships to provide to SymPowerco the intellectual and industrial strength we need to move this project rapidly towards commercialization."

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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