GARDNERVILLE, NV--(Marketwire - 02/12/10) - SymPowerco Corporation (Pinksheets:SYMW - News) CEO John Davenport announced today that the company has received approval to change the name of its wholly owned subsidiary, 1259529 Alberta Limited, to Polygenic Power Corp ("PPC").
Effective immediately, Polygenic Power Corp will be responsible for the implementation of the development plans for SymPowerco's various technologies. SymPowerco recently completed a broad assessment of its technologies and opportunities and will soon announce various initiatives in support of its development plans.
Stated CEO, John Davenport, "Polygenic Power Corp will operate within SymPowerco and will develop technologies for SymPowerco. As the owner of PPC, SymPowerco will retain the rights to all PPC developments. The name 'Polygenic' reflects the genesis of various technologies within SymPowerco and symbolizes the company's desire to move forward on multiple fronts."
"I want to add that SymPowerco is grateful for the patience of its shareholders during this extended period while we developed our plans for what we hope will be an exciting year for our company."
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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