Hy-Drive Technologies Officially Launches blutip Power Product Platform and New Website

Hy-Drive Technologies (HGS-V)

MISSISSAUGA, ON, Feb. 1 /CNW/ - blutip Power Technologies, ("blutip Power") a division of Hy-Drive Technologies Ltd. (TSXV:HGS) has been officially launched.  blutip Power is the company's comprehensive platform for customer solutions to improve emissions and save fuel across many engine applications. The company also today announced a new website (www.blutipower.com), which provides a glimpse into the full suite of offerings blutip Power will provide.

"Through blutip Power, our commitment is to rapidly deploy emissions reduction products that improve our energy economy at the same time," declared Robert Bucher, President & CEO of Hy-Drive Technologies.

Here's How

blutip Power will utilize Hy-Drive's hydrogen generating technology originally developed for the trucking industry and certified through extensive emissions testing to expand into green products and services to meet the needs of various markets, including power generation, public transit, and mining. The company will continue working on diesel combustion, but will also have the knowledge and expertise to expand into multi-fuel controls, smart telematics and a control and monitoring solution that is high precision, low cost, and mobile. Customers will also be able to access blutip Power's leading engine combustion emissions analysis, environmental packaging, lab services, and tailored program prototyping as required.

"We really want to expand our reach so that blutip Power products and services will be available to a wide range of channel partners and customers around the world. Through co-operation, dedication, partnerships, special alliances, and development with some of the world's leading experts in environmental technology, we can accelerate their configuration and deployment" said Bucher.

In recent weeks, the company has already joined forces with alternate distributors for the hydrogen generating technology like GreenCell Technologies and WorldKlass and is developing automated impact studies and the necessary telematics package and services.

On the Web

Visit www.blutipower.com to see how the company plans to be part of the critical movement toward saving energy and reducing emissions around the world.

About blutip Power

blutip Power Technologies, a division of Hy-Drive Technologies Ltd., is a technology company headquartered in Mississauga, Ontario, Canada. The Company has invested in the research and development of hydrogen and control technology resulting in a proprietary, patented and patent-pending hydrogen generating system ("HGS®") and advancement in multi-fuel universal combustion controls. The HGS enriches the fuel-air charge of an internal combustion engine with hydrogen produced through electrolysis and uses its proprietary software controls to improve combustion of the fuel-air mixture. The result is improved fuel economy and reduced opacity (particulates).

Cautionary Note Regarding Forward-Looking Statements:

This press release contains certain forward-looking statements that are based upon current expectations, which involve risks and uncertainties associated with the Company's business, and the economic environment in which the business operates. Forward-looking statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements including but not limited to, statements about future development of blutip/Hy-Drive's products, commercial production in 2011, future working capital requirements, and validation of blutip/Hy-Drive's products, and can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", "thinks", or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved" and similar expressions to the extent that they relate to the Company or its management. These forward-looking statements are not historical facts, but reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations, including the matters discussed in the section "Risks and Uncertainties" below.

Although blutip/Hy-Drive has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.  blutip/Hy-Drive does not undertake to update any forward-looking information that is incorporated by reference herein, except in accordance with applicable securities laws.

 

The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.


SOURCE Hy-Drive Technologies Ltd.

For further information:

Robert H. Bucher, P.Eng
President & CEO
Tel:  (905)542-3024 x222
Email: rbucher@blutipower.com
Media Relations
Tel:  (905)542-3024 x268

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Hy-Drive Technologies Ltd.

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