SYMW NEWS >>> SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport today announces that the company has received notification that it has successfully cleared the peer review process in its application for a development grant from a major North American government. The company previously announced that the peer reviewers had submitted technical and commercial questions to SymPowerco as part of the Grant Committee's deliberations.
If granted, the funds are intended to aid in the development of SymPowerco's unique Flowing Electrolyte Direct Methanol Fuel Cell. SymPowerco is very pleased that the peer review process has been completed successfully and that the grant application has moved to what SymPowerco believes is the final stage of the application process.
Governments across North America are making grant moneys available for projects that meet various alternative power, energy and environmental criteria. SymPowerco's management believes that it is in the shareholders' interests for the company to make application for these grants, wherever appropriate.
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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