SymPowerco Fuel Cell Partner Advances Business Plan
GARDNERVILLE, NV — SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport announced today that the company’s fuel cell partner, Hybrid Energy Technologies, Inc. (”HET”) of Ontario, Canada, has advanced its business plan on several fronts and that HET’s initiatives continue to support the planning and timing of SymPowerco’s fuel cell development program. HET owns 30% of SymPowerco’s majority owned (70%) subsidiary, Polygenic Power Systems, Inc. (”PPSI”), which manages all aspects of SymPowerco’s Flowing Electrolyte Direct Methanol Fuel Cell (FEDMFC) program.
HET, which owns the exclusive rights to a unique flat-plate rechargeable battery technology, has informed SymPowerco that it has successfully completed Phase I of a study to determine the feasibility of mass producing its battery technologies and to determine the feasibility of constructing a high speed manufacturing facility at a certain location for the world market.
In addition, HET has advised SymPowerco that it has begun design and construction of various prototype flat-plate battery configurations that will be made available to its existing and potential customers for design and testing purposes.
SymPowerco President and CEO, John Davenport, commented, “SymPowerco owns the exclusive rights to use HET’s flat-plate battery technologies in Hybrid Power Systems that use Direct Methanol Fuel Cells. We believe that the FEDMFC and the flat-plate battery technologies, when used together in Hybrid Power Systems, will create a formidable presence in the burgeoning Alternative Power Systems markets for small to medium sized vehicles and for other markets. We’re very pleased that HET is advancing its battery technologies so rapidly.”
