"We expect the Hy-Drive product to be quickly adapted by the Icelandic marketplace," said Hrafn Sigurdsson, Managing Director of HreinOrka. "Iceland is extremely progressive when it comes to energy efficiency and emissions reduction. Industry here is working towards the world's first hydrogen economy and Hy-Drive's technology brings us one step closer to that goal."

Iceland is well known as the world leader when it comes to the incorporation of hydrogen technologies. In 2002, President Olafur Ragnar Grimsson declared that by 2050, Iceland will transform its entire energy infrastructure to support a hydrogen economy. The island has an abundance of geothermal and hydroelectric energy sources giving it significant advantages in achieving an economy based entirely on renewable sources.

"We are extremely excited to have HreinOrka introduce our product in Iceland's hydrogen technology hot-bed," said John O'Bireck, Vice-President of Hy-Drive. "Showcasing our Clean Burn Technology(TM) in this market will demonstrate on the world stage our ability to make fossil fuels both efficient and ecologically sound."

This agreement is part of Hy-Drive's controlled and planned roll out of distribution agreements with third party partners across the globe. This agreement adds to a number of others including IntraLink and Mining Technologies International in North America, Sparta & Associates in the Asia-Pacific region, and TransFuel Ltd. in the United Kingdom. Agreements to distribute Hy-Drive's Clean Burn TechnologyTM into the European Union, South America and other markets are proceeding as per Hy-Drive's strategic growth plan.

About Hy-Drive

Hy-Drive is an energy technology firm that has developed a proprietary, patented hydrogen generating system. The Hy-Drive system generates and injects hydrogen gas into a regular internal combustion engine, enhancing the combustion process by allowing fuel to burn more efficiently and completely. In previous extensive customer trials and third party tests, the Hy-Drive system has demonstrated significant performance enhancements, including reduced emissions, increased torque/horsepower and significant fuel savings. These benefits, specifically fuel economy and reduced emissions, provide customers with greater productivity overall, as their engines operate more efficiently, with improved cycle times and less carbon build-up. For further information, visit http://www.hy-drive.com.

About HreinOrka

HreinOrka Ltd. is an Icelandic corporation specializing in providing solutions to the transport and fisheries markets. Based in Greniasi, HreinOrka has extensive experience in developing control systems and marketing engine components to the heavy transport industries. The firm has a well established network across the country for marketing marine engine components and advanced lubricants. This network is being expanded upon with the introduction of the Hy-Drive product.