Hy-Drive Technologies Ltd. (TSX-V: HGS) ("Hy-Drive") today announced its participation at Truck World 2006, the largest trade show for Canada's trucking industry, taking place this week in Toronto, Ontario. Hy-Drive will showcase its new G2 hydrogen generating system. Hy-Drive's G2 system is designed to substantially improve fuel efficiency while being environmentally "friendly" by reducing exhaust emissions. The Hy-Drive system works by injecting small amounts of hydrogen gas into the combustion chamber of a regular internal combustion engine. This creates an enriched air mixture and a more complete and faster burn which results in reduced emissions, improved fuel efficiency and more engine torque. The system began shipping commercially in February to trucking fleets throughout the U.S. and Canada. A special promotion offer at the show will include free installation with the purchase of a Hy-Drive system.
Truck World "The Meeting Place for Canada's Trucking Industry" is the largest truck trade show in Canada. In 2004, 16,760 registered guests toured the aisle of Truck World looking for new products and services. They included senior executives, fleet managers, owner-operators, drivers, truck and trailer distributors, heavy-duty parts wholesalers and distributors, maintenance shop owners and manufacturers. Attendees come from across Canada and bordering U.S. states to see new products, technologies and services and attend seminars and workshops held in conjunction with the show. This year organizers are expecting more than 20,000 attendees seeking solutions to rising fuel costs and tighter emission standards.
Dates & Times
Thursday, April 20, 2006 - 10:30 am to 6:00 pm
Friday, April 21, 2006 - 10:00 am to 6:00 pm
Saturday, April 22, 2006 - 9:00 am to 5:00 pm
Location
International Centre, Toronto (Airport), Canada
Hy-Drive Booth No. 3312
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 tests, the Hy-Drive system has demonstrated significant performance enhancements, including reduced emissions, increased torque/horsepower, fuel savings and extended engine life. 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 www.hy-drive.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Hy-Drive to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the speculative nature of the hydrogen-based energy and power technology industry, which is affected by numerous factors beyond Hy-Drive's control; the existence of present and possible future government regulation; the significant and increasing competition that exists in the hydrogen-based energy and power technology industry; the early stage of Hy-Drive's business and therefore it is subject to the risks associated with early stage companies, including uncertainty of revenues, markets and profitability and the need to raise additional funding; the fact that Hy-Drive is a party to litigation involving claims against it for damages in substantial amounts, which, if decided unfavourably against Hy-Drive, would have a material adverse effect on Hy- Drive and its business, as well as those factors discussed in the section entitled "Risks and Uncertainties" in Hy-Drive's management's discussion and analysis for the nine months ended September 30, 2005. Although Hy-Drive has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Hy-Drive does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
The TSX Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
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For further information: Investor Relations: Glen Akselrod, Bristol Capital Ltd., Tel: (905) 326-1888, Email: glen@bristolir.com; or Tom Brown, Hy-Drive Technologies Ltd., Tel: (905) 542-3024, ext. 300, Email: tombrown@hy-drive.com; Media Relations: Andre Fuochi, GCI Group, Tel: (416) 486-7227, Email: afuochi@gcigroup.com