Hy-Drive Technologies Ltd. Announces Name Change to blutip Power Technologies Ltd.

MISSISSAUGA, ON, May 30, 2011 /CNW/ - Hy-Drive Technologies Ltd. (TSXV: HGS) today announced it has changed its name to blutip Power Technologies Ltd. ("blutip Power" or the "Company") effective today, May 30, 2011.  The name change has been accepted by the TSX Venture Exchange and was approved by the Company's shareholders at its Annual General & Special Meeting of Shareholders held on May 12, 2011.

The blutip Power common shares are scheduled to commence trading on the TSX Venture Exchange under the new name at market open on June 1, 2011. At that time, the trading symbol for the common shares will change to BPR.

About blutip Power™

blutip Power 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).

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


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Hy-Drive Technologies Ltd.

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