SOURCE: symPowerco Corp.

September 09, 2009 07:30 ET

SymPowerco Fuel Cell Project Begins

GARDNERVILLE, NV--(Marketwire - September 9, 2009) - SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport announced today that the company's Flowing Electrolyte Direct Methanol Fuel Cell Project (FEDMFC) has officially begun at Carleton University in Ottawa, Canada. The Project Team has held its first meeting and has developed and assigned the initial objectives and tasks for the team members, all of whom work within Carleton's Department of Mechanical and Aerospace Engineering.

In addition to refurbishing the SymPowerco 5 Watt FEDMFC prototype and bringing it to operational status, initial tasks for the team include the immediate development of mathematical models that will be used for operational simulations and the assessment of virtual and actual FEDMFC data. The team will also conduct expanded research of related DMFC literature. The Department of Mechanical and Aerospace Engineering has also decided to expand the team to include more graduate students. The FEDMFC project is being funded through a recently announced grant from Ontario Centres of Excellence.

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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