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SymPowerco has broadly expanded the objectives of the HEV Project to include feasibility studies for the early commercialization of multiple Hybrid Power System configurations. The project is expected to determine optimal battery requirements for the HEVs, to test multiple types of batteries, to confirm System Control and Data Acquisition (SCADA) specifications for SymPowerco's Hybrid Power Systems, to determine the fuel cell power delivery requirements of the Hybrid Power Systems under various load conditions and to determine the design issues involving the retrofitting of existing plug-in electric vehicles with SymPowerco's fuel cell and hybrid power technologies.
SymPowerco has identified extensive markets for Fuel Cell Hybrid Power Systems including golf carts, small industrial vehicles, three-wheeled taxis in the Far East (Tuk-Tuks), motorbikes and similar small vehicles. Many national and local governments in the Far East wish to replace millions of gas-powered motorbikes and taxis with electric vehicles that do not require plug-in rechargers.
It is anticipated that Hybrid Electric Vehicles will require as much as 70% less battery weight compared to plug-in electric vehicles. With batteries being constantly recharged by SymPowerco's Flowing Electrolyte Direct Methanol Fuel Cell, a golf cart, for example, could weigh as much as 200 pounds less than a plug-in golf cart and would operate indefinitely by occasional refueling with methanol, an abundant and economical alcohol.
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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SOURCE: SymPowerco Corp.
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