Hybrid Technologies Inc. (NASD: OTCBB: HYBT) at the Right Place at the Right Time as President George W. Bush Reaffirms Commitment to Alternate Fuel Source Funding Monday April 24, 7:30 am ET
Earth Day Draws Significant Attention to Hybrid Technologies' Innovative Lithium Vehicles; Record High $75.00 for Oil and $3.00 per Gallon of Gasoline Creates Unprecedented Anticipation in Market Growth
NEW YORK, NY--(MARKET WIRE)--Apr 24, 2006 -- Hybrid Technologies, Inc. (OTC BB:HYBT.OB - News) www.hybridtechnologies.com, emerging leaders in the development and marketing of lithium powered products worldwide, are proud to support Earth Day 2006 by offering America's drivers new options in lithium battery cars, which were on presentation at Hybrid's exhibition booth at the New York International Auto Show. ADVERTISEMENT
As a leader in the invention, development and marketing of emissions-free fuel systems, Hybrid addresses the increasing national concerns with rising sea levels, melting glaciers and the endangerment of thousands of plant and animal species. Hybrid's products include a growing list of environmentally conscious electric vehicles. From stealth motorcycles to military products, from watercrafts to the sleek L1X-75 (the world's fastest hybrid sports car), the company is a pioneer in the burgeoning global movement for clean fuel.
The company's lithium Smart Car, available to consumers in a full lithium version by 2007, is an eco-friendly alternative that protects the environment without sacrificing comfort or style. The emissions-free vehicle can travel up to 90 mph and has a range of approximately 100 miles. Hybrid Technologies has also unveiled several other lithium powered vehicles at the auto show, including the L1X-75 and a Military Cruiser.
Hybrid has also adapted their emissions-free lithium powered energy system as part of off-the-grid lifestyle technologies in commercial and residential properties.
President George W. Bush, at an Earth Day speech in Sacramento, CA, stated: "And so here's a strategy to deal with it: One, we're spending a lot of money at the federal level to encourage research and development, with the goal of getting away from oil. Spent $10 billion over the last five years to develop cleaner and cheaper and more reliable energy sources. The goal is, as I mentioned in my State of the Union, to promote hydrogen and hybrid vehicles and ethanol. In other words, what technology will enable us to do is change our driving habits, is to figure out new ways to utilize fuels so that they're not -- so we can get away from oil-based fuels."
The Administration is also supporting the development of a new generation of "Plug-In" hybrids. "Plug-in" hybrids can be recharged in a standard electrical outlet. When a "plug-in" hybrid is started, the battery would be fully charged. This could allow drivers to go 40 miles on electricity alone, allowing most Americans to do their daily commute without burning a drop of gasoline. The President's FY 2007 Budget includes $31 million, a 27% increase over current levels, to speed up research into battery technologies.
About Hybrid Technologies: www.hybridtechnologies.com
Forward-Looking Statement
This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on the Company's current expectations as to future events. However, the forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements.
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