SYMW
SymPowerco Presents Technology Development Framework
LAS VEGAS, NV, Jun 17, 2008 (MARKET WIRE via COMTEX) -- SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport today announces the company's technology development framework. This framework forms the basis of SymPowerco's development and partnership strategies that the company believes will lead to the realization of SymPowerco's primary goal, to bring to market the first truly portable and practical hybrid electric power systems that do not rely on plug-in battery chargers or fossil fuels.
Oil prices and environmental changes are forcing the development of electric vehicles for a wide range of transportation needs. SymPowerco believes that its Flowing Electrolyte Direct Methanol Fuel Cell (FE DMFC) will provide manufacturers of small electric vehicles with a power system of sufficient power and practicality to allow extended operation of their electric vehicles by simply refilling the tank with methanol.
Stated SymPowerco CEO, John Davenport, "These needs provide SymPowerco with an obvious development framework. The value of a successful portable and clean power supply like our FE DMFC is obvious, but the opportunity for SymPowerco rests also with extended power system technologies."
"Although we believe that our FE DMFC will be able to service a huge retrofit market of small vehicles currently driven by lead acid batteries with plug-in chargers, we also recognize the need for even more advanced power systems. These needs include new battery technologies, advanced electric drive systems and new efficiency and operational control systems."
Concluded Mr. Davenport, "At SymPowerco, we are using this needs framework to develop not only a robust and practical fuel cell, but also the relationships and partnerships required to offer to the consumer hybrid power systems comprised of the most advanced technologies available. We think the whole package is very important."
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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