blutip Power3 for Stationary Gensets Launched
Hy-Drive Technologies Ltd. (TSXV: HGS)
MISSISSAUGA, ON, Feb. 24 /CNW/ - blutip Power Technologies™ ("blutip
Power") , a division of Hy-Drive Technologies Ltd. (TSXV: HGS) today
announced that it has completed a Power3 Impact Study at Toromont Caterpillar's facilities, based in Concord,
Ontario, on stationary generator sets that has resulted in over 10%
positive fuel optimization on the Caterpillar XQ400 genset. The blutip
Power3 product is available immediately for 400kW class CAT Power Generators
and is being developed for up to 1.5MW capacity generators as well.
blutip Power conducted the Power3 Impact Study, which incorporated the use of it's Hydrogen Generating
System, integrated with it's Advanced Universal Combustion Controller
("AUC2"), launching it's next generation of product, the blutip Power3. The results show that, dependent upon load variables, average fuel
savings of 6 - 12% are achievable. A full copy of the report is
available on-line at www.blutipower.com.
"We are extremely pleased with the results of the impact study,
conducted at the Toromont CAT facilities. On a typical installation for
this power generator type, our results would generate over
$100,000/year in diesel fuel savings. Therefore, the return on
investment is less than six months using the projected selling price of
our new Power3 product line," said Robert Bucher, President and CEO for Hy-Drive.
"Billions of gallons of diesel is being consumed each year to generate
power - much of which is done so by tens of thousands of small private
power utilities operating equipment such as this. With this in mind,
the opportunity for Power3 to the customer and the company is enormous," he added.
About blutip Power
blutip Power, 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. blutip's Hy-Drive 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 Power's/Hy-Drive's
products, commercial production in 2011, future working capital
requirements, and validation of blutip Power's/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 expectation.
Although blutip Power/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
Power/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
| || || || || || || || || ||Media Relations|
Tel: (905)542-3024 x268