SOURCE: symPowerco Corp.

August 24, 2009 16:32 ET

SymPowerco Signs Non-Disclosure Agreement, Provides Corporate Update

GARDNERVILLE, NV--(Marketwire - August 24, 2009) - SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport announced today that the company has entered discussions and has signed a Non-Disclosure Agreement with an alternative energy and power systems corporation for the purpose of determining the advisability of establishing a business relationship that may include an acquisition or joint venture. SymPowerco has also entered similar discussions with a second group that owns advanced power system technologies and intellectual properties that appear to offer market opportunities for SymPowerco.

SymPowerco also announces the termination, by mutual agreement, of the Share Exchange Agreement amongst Steven Humphries, Hoss Motor Sport, Inc. (HMSI), Highline Hydrogen Hybrids, Inc. (HHHI) and SymPowerco. SymPowerco wishes Mr. Humphries and the shareholders of HMSI and HHHI well in their future endeavors.

Carleton University, the company's partner in the development of its Flowing Electrolyte Direct Methanol Fuel Cell, has informed SymPowerco that it has selected the first two team members for the Fuel Cell project, one of whom is a Post-Doctoral Fellow at the University. The project at Carleton's Department of Mechanical and Aerospace Engineering will employ as many as five graduate students under the direction of the Department Head and other department scholars and is to be 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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