| SymPowerco Plans Hybrid Electric Vehicle Prototype |
January 28, 2009
SymPowerco Corporation CEO John Davenport today
announces that the company has entered into discussions with an automotive
laboratory for the joint design, construction and testing of a Hybrid
Electric Vehicle (HEV). The HEV prototype will serve as a test bed for the
design of SymPowerco's Hybrid Power Systems. SymPowerco plans to enter the
Hybrid Power Systems markets with its unique Flowing Electrolyte Direct
Methanol Fuel Cell.
The objectives of the HEV Project are to determine optimal battery
requirements for the HEV, to confirm the System Control and Data
Acquisition (SCADA) specifications for SymPowerco's Hybrid Power Systems,
to determine the fuel cell power delivery requirements of the Hybrid Power
Systems under various load conditions and to determine the design issues
involving the retrofitting of existing plug-in electric vehicles with
SymPowerco's fuel cell and hybrid power technologies.
SymPowerco has identified extensive markets for Fuel Cell Hybrid Power
Systems including golf carts, small industrial vehicles, three-wheeled
taxis in the Far East (Tuk-Tuks), motorbikes and similar small vehicles.
Many national and local governments in the Far East wish to replace
millions of gas-powered motorbikes and taxis with electric vehicles that
do not require plug-in rechargers.
It is anticipated that Hybrid Electric Vehicles will require as much as
70% less battery weight compared to plug-in electric vehicles. With
batteries being constantly recharged by SymPowerco's Flowing Electrolyte
Direct Methanol Fuel Cell, a golf cart, for example, could weigh as much
as 200 pounds less than a plug-in golf cart and would operate indefinitely
by occasional refueling with methanol, an abundant and economical alcohol.
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,"
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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.