SymPowerco Advances Acquisition Initiatives
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| Posted
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Mon, 13 Jul 2009 11:30:37 GMT |
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SymPowerco Corp. |
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Press Release |
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GARDNERVILLE, NV -- 07/13/09 --
SymPowerco Corporation (PINKSHEETS: SYMW)
CEO John Davenport announced today that the company's discussions to
acquire majority interests in Highline Hydrogen Hybrids, Inc. ("HHHI") and
Hoss Motor Sports, Inc. ("HMSI") have reached an advanced stage and that
SymPowerco, HMSI and HHHI have exchanged comprehensive documents detailing
the scope and terms of multi-level acquisition agreements. Subject to the
completion of due diligence by all parties, shareholders can expect final
decisions with respect to the acquisitions in the very near term.
Both HMSI and HHHI are rapidly completing their moves to larger facilities
in Dumas, Arkansas. Full-scale production is expected to start for both
companies at their new facilities later this summer. The companies are
engaged in several initiatives to expand the markets for their products, to
increase their product lines and to expand the intellectual property bases
associated with their respective products.
HHHI has developed a unique supplemental hydrogen fuel system for Internal
Combustion Engines that reduces dangerous emissions, enhances fuel
efficiency by as much as 25% and increases horsepower by an average of 10%.
HHHI plans to release a version of its supplemental fuel system for use on
Over-The-Road commercial vehicles.
Hoss Motor Sports Inc. intends to produce several types of Off Road Utility
Vehicles at its new Dumas, Arkansas site including vehicles designed
specifically for Search and Rescue, Construction Sites and for Sport
Utility and Off Road Enthusiast markets.
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. HMSI and HHHI
offer potentially expansive synergies and marketing opportunities with
SymPowerco's Flowing Electrolyte Direct Methanol Fuel Cell and Hybrid Power
System technologies.
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:
Investor Relations
775-636-8486
Email Contact: Email Contact
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