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SymPowerco Sees Increasing Need for Alternative Power Systems

Posted on: Tuesday, 27 May 2008, 09:00 CDT

SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport today announces its Corporate Mission Statement in response to the increasing need for alternative power delivery systems.

The new Corporate Mission Statement will guide the development and implementation of SymPowerco's Strategic Plan. The company's market-driven Strategic Plan will include scientific and engineering initiatives in response to the rapidly developing energy and environmental challenges facing today's world.

Effective immediately, SymPowerco's mission statement is, "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."

Stated SymPowerco CEO, John Davenport, "A perfect storm of energy issues is creating unprecedented challenges and opportunities in this sector. On the one hand, the burning of fossil fuels is causing dangerous environmental change. On the other hand, as evidenced by recent oil prices, oil demand is exceeding supply. Not only is oil causing environmental damage but we're running out of it. Clearly, we need alternative power systems for personal and industrial transportation."

"In the few short months since SymPowerco began the negotiations to purchase our Flowing Electrolyte Direct Methanol Fuel Cell, the price of oil has almost doubled. There is an urgency in the marketplace for fuel cells. That urgency cannot be satisfied by the hydrogen-based fuel cell because it will be years before hydrogen can be safely delivered to market in quantity. Methanol, like ethanol, can be produced in an environmentally safe manner and methanol is available everywhere."

"At SymPowerco," continued Mr. Davenport, "we believe that our Flowing Electrolyte Direct Methanol Fuel Cell has a strong chance of being the first practical fuel cell brought to market that is large enough and practical enough to power light personal and industrial vehicles, as well as a host of portable power supply needs."

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.

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.

 Contact: Investor Relations: 702-968-9944 Email Contact: Email Contact

SOURCE: SymPowerco Corp.

Source: MARKET WIRE

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