SOURCE: HyPower Fuel, Inc.

August 11, 2009 13:40 ET

UPDATE: HyPower Fuel Announces Financial Contribution From the NRC Industrial Research Assistance Program for Its Continuous Flow Biodiesel Reactor Project

HIGH RIVER, AB--(Marketwire - August 11, 2009) - HyPower Fuel, Inc. (PINKSHEETS: HYPF), a leading Canadian alternative energy company, announced today that it has received a non-repayable contribution from the National Research Council of Canada Industrial Research Assistance Program (NRC-IRAP). This contribution, in addition to both technical and business oriented advisory services provided by NRC-IRAP, will help enable the company to improve its novel, waterless, biodiesel batch processing system to a continuous flow system.

Mr. Doug Bender, President of HyPower Fuel, stated that "we have been working with the NRC-IRAP for over one year now and are very pleased that they have chosen to work with us on this important project to make our unique biodiesel process more commercially feasible."

Mr. Bender went on to state that "the production of biodiesel is a very competitive business and being able to lower production costs is an imperative consideration for when constructing a biodiesel plant of any size. We believe that this improvement to a continuous flow system will make our technology even more cost effective."

NRC-IRAP works with small- and medium-sized Canadian firms, providing expertise and advice as well as potential funding in developing their innovative ideas. Financial assistance for this project is a direct result of the Government of Canada's Economic Action Plan outlined in Budget 2009.

About HyPower Fuel Inc.

HyPower Fuel, Inc. is a category leading company in the energy technology sector, focusing on providing innovative, clean alternative energies through unique methods. Currently HyPower has hydrogen insertion and production technologies and biodiesel production technologies in development and/or in the product commercialization stage. For more information please visit: www.hypowerfuel.com

Contact Information

  • For more information, please contact:

    Taylor Capitol, Inc.
    Investor Relations:
    Stephen Taylor
    973-351-3868
    Email Contact
    HyPower Fuel, Inc.
    (403) 601-8442