GARDNERVILLE, NV--(Marketwire - 02/16/10) - SymPowerco Corporation (Pinksheets:SYMW - News) CEO John Davenport today announced the start of a new project for the development and construction of an advanced Flowing Electrolyte Direct Methanol Fuel Cell ("FEDMFC") prototype. The as-yet-unnamed project will serve to address several objectives relating to the advancement of FEDMFC technologies including innovative engineering designs, durability, scalability and manufacturing methods and economics.
SymPowerco's management is of the opinion that its engineering and electro-chemical ideas and designs must be implemented and tested with a state-of-the-art prototype that offers sufficient flexibility in its design to allow multiple engineering concepts to be tested under broad operating parameters.
The prototype will be developed completely in-house by SymPowerco's subsidiary, Polygenic Power Corp. SymPowerco Corporation will retain control of all facets of the project as well as all Intellectual Property rights that result from the project. The project will run parallel with any other fuel cell projects with which the company is involved and is expected to greatly expedite the company's FEDMFC objectives.
SymPowerco Corporation develops advanced fuel cell and power delivery systems for the rapidly growing personal transportation and portable power system markets that are being created by today'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.
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