SymPowerco Signs LOI to Acquire Majority Stake in Highline Hydrogen Hybrids

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Tue Jun 30, 2009 7:30am EDT

  GARDNERVILLE, NV, Jun 30 (MARKET WIRE) -- 
SymPowerco Corporation (PINKSHEETS: SYMW) CEO John Davenport announced
today that the company has signed a Letter of Intent ("LOI") with Texas
businessman Steven Humphries for the acquisition of a majority interest
in Highline Hydrogen Hybrids, Inc. ("HHHI"), the manufacturer of a unique
and proven hydrogen conversion system for gasoline and diesel-powered
vehicles.

    In April of 2009, Humphries entered an agreement to purchase 70% of HHHI.
Under the terms anticipated by today's Letter of Intent, Mr. Humphries
will assign his HHHI interest to SymPowerco.

    HHHI's unique supplemental hydrogen fuel system, in addition to reducing
dangerous emissions, has been shown to enhance the fuel efficiency of
internal combustion engines by as much as 25% and to increase horsepower
by an average of 10%. HHHI also plans to release a commercial version of
its supplemental fuel system for use on Over-The-Road commercial vehicles.

    HHHI's unique hydrogen converter has undergone rigorous testing and has a
patent pending. The company is currently relocating from Northwest
Arkansas to a 380,000 square foot building on 30 acres in Dumas,
Arkansas. HHHI officials project gross sales of their products to reach
nearly $3,400,000.00 over the next 18 months.

    Stated SymPowerco CEO John N. Davenport, "We at SymPowerco are very
excited about the potential HHHI revenue streams and the synergies that
HHHI's efficiency enhancing products could bring to our company. We
believe that HHHI's products would complement our Flowing Electrolyte
Direct Methanol Fuel Cell technologies by allowing SymPowerco to not only
replace the internal combustion engine with the fuel cell in many
applications but to also offer products to help reduce the environmental
and energy-related impacts of the remaining fleet of vehicles powered by
internal combustion engines."

    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.

    

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