Hy-Drive Technologies Ltd. (TSX-V: HGS) ("Hy-Drive") today announced that it is participating in the Mid America Trucking Show, in Louisville, Kentucky, this week. The company will be showcasing its new G2 hydrogen generating system (HGS), which began shipping commercially last month to trucking fleets throughout Canada and the United States.
The trade show, the largest of its kind for the trucking industry, will feature Hy-Drive Technologies installing G2 hydrogen generating systems right at the show as part of a special promotion. The units, which are easily installed in an hour, work with any internal combustion engine, all types of fuel and in almost any climate making it a versatile solution for any truck fleet.
"This trade show is the ideal forum and platform for us to demonstrate to the world what hydrogen technology can do for the trucking industry," said Tom Brown, President & CEO of Hy-Drive Technologies Ltd. "We've spent the past five years developing and refining this hydrogen technology which is now ready for mass distribution. As fuel costs continue to rise, our technology gives users a viable solution for dramatically reducing operating costs and harmful emissions. The value proposition of our G2 units is clear - improve your fuel efficiency and help the environment."
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. For more information on Hy-Drive please visit www.hy-drive.com.
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 unfavorably 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.
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For further information: Investor Relations: Glen Akselrod, Bristol Capital Ltd., Tel: (905) 326-1888, 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, (416) 486-7227, afuochi@gcigroup.com