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SymPowerco Pursues New Hybrid Power Opportunities
(OTC:SYMW) Sympowerco Corp.
Tuesday January 27, 7:30 am ET
GARDNERVILLE, NV-Jan 27, 2009 - SymPowerco Corporation CEO John Davenport recently announces that the company has entered discussions to acquire rights to two unique battery technologies that the company believes will significantly increase the potential markets for the company's Flowing Electrolyte Direct Methanol Fuel Cell and related Hybrid Power Systems.
SymPowerco plans to enter the Hybrid Power Systems markets through the development and marketing of its FEDMFC technology coupled with various battery technologies in hybrid applications. In Hybrid Power Systems the fuel cell maintains the charge in the system's batteries while the batteries supply power to the vehicle or device.
The two battery technologies offer the potential to significantly expand the operating parameters of FEDMFC hybrid power systems. In addition, they offer lower battery costs and significant environmental advantages.
The company believes that its FEDMFC technology offers several advantages over conventional methanol and hydrogen fuel cells in portable and small vehicle applications and provides a shorter path to commercialization than either type for its targeted markets.
These markets include small vehicle hybrid power systems, industrial power supplies and consumer products. The markets for small to mid-sized liquid-fueled fuel cells have been estimated at upwards of $15 billion.
The specific markets to be targeted by SymPowerco include:
Market Segment Estimate, US$ Small vehicles : > 500 Military applications: > 500 Remote location power systems: 100 Intermittent-use back-up systems: 500 Portable industrial generators 500 Recreational vehicles 200 Tractor/trailer auxiliary power > 350 Motorbikes, Tuk-Tuks : > 1,500
SymPowerco believes that 50W to 500W Hybrid Power Systems powered by its Flowing Electrolyte Direct Methanol Fuel Cells would be very competitive in portable and mobile power supply markets. The FEDMFC could allow small electric vehicles to operate, for the first time, with convenience and economics comparable to vehicles powered by internal combustion engines but in a far more environmentally friendly manner.
SymPowerco Corporation develops advanced fuel cell and power delivery systems for the rapidly growing personal transportation and portable power system markets being created by recently'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.
Contact:
Contact: Investor Relations 775-636-8486 Email Contact: Email Contact Source: SymPowerco Corp.
Profile for Sympowerco Corp.
Ethanoil and Gas Corporation, an energy company, engages in the exploration and development of shallow gas, shale gas, and conventional petroleum assets. The company holds working interest in the petroleum and natural gas rights in the Torch Lake area of the Province of Saskatchewan, Canada. It primarily serves the consumer and industrial markets. The company, formerly known as Dinosaurus, Inc., is based in North Las Vegas, Nevada.
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