SymPowerco Corporation (Pinksheets:SYMW - News) CEO John Davenport announced today that the company's majority-owned subsidiary, Polygenic Power Systems ("PPS"), has received an agreement document setting forth the terms and conditions of grant funding for the company's Flowing Electrolyte Direct Methanol Fuel Cell (FEDMFC) advanced development program at Carleton University in Ottawa, Ontario, Canada.
SymPowerco is also very pleased to announce the Centres of Excellence in Canada's Province of Ontario is the granting agency. The Centres of Excellence is the Ontario government's pre-eminent research-to-commercialization vehicle.
SymPowerco, PPSI, Hybrid Energy Technologies, Inc. and Carleton University's Department of Mechanical and Aerospace Engineering submitted the joint application to the Centres of Excellence for a grant to aid in the development of the FEDMFC. The grant was approved after extensive agency assessment and multiple academic and commercial peer reviews.
SymPowerco and its partners are currently reviewing the terms and conditions of the agreement and details will be released upon signing of the agreement. SymPowerco's management considers approval of the grant to be a major endorsement of the company's Flowing Electrolyte Direct Methanol Fuel Cell technology and its development program.
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.
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