EDMONTON, March 8 /CNW/ - Sparta Capital Ltd. (TSX-V: SAY) is a Master Sales Agent for the patented Hy-Drive Hydrogen Generating System ("HGS(R)"), a leading edge fuel savings and emissions reduction technology manufactured by Hy-Drive Technologies Ltd. of Mississauga, Ontario, Canada.
As the exclusive HGS distributor for on-road heavy transport and buses in Australia and New Zealand, Sparta is pleased to announce the much anticipated recommencement of commercial sales and marketing of the HGS in Australia. In February 2008, the manufacturer paused international sales to reengineer the product. In the subsequent two year period the HGS has gone through extensive product development, quality control testing, on-road trials and independent validation of product performance.
Sparta refers interested parties to a press release issued by Hy-Drive dated March 8, 2010 where Hy-Drive provides further details of the product's reengineering and international re-launch.
Mr. Hugo T. Sorensen, Hy-Drive President and CEO, commented, "With confidence in HGS reliability and dependability, and verified fuel and particulate matter reductions, Hy-Drive has elected to re-engage in the Australian marketplace with a shipment of HGS units recently exported to our Australian sales agent, Sparta Capital Ltd." The full Hy-Drive press release can be viewed by clicking the "NEWS" tab on the Hy-Drive website www.hy-drive.com
Mr. Ray Ludwig, Vice President of Operations for Sparta states, "Hy-Drive has demonstrated a very strong commitment and focused approach in their reengineering of the HGS. The current model is specifically designed to integrate with CAT(R) ACERT(TM) and non-ACERT engines, years 1998 to 2006. Third-party SAE tests conducted on trucks with CAT diesel engines shows HGS fuel savings of 10.47%, plus a 39.53% reduction in particulate emissions. The CAT engine is a significant component of the long haul transport market in Australia where there has been an industry wide focus on emissions reduction and fuel savings. With retail fuel prices at the pump averaging 50% higher in Australia than in the United States, Australia is clearly a significant potential market for the HGS. Sparta has now received an initial allotment of ten HGS units in Australia. Sales and marketing efforts are to recommence immediately."
Sparta is a Master Sales Agent for the HGS in the Asia-Pacific region, a heavily populated region striving to conserve energy and reduce emissions. Sparta's master license applies to diesel engines employed on trucks, buses, industrial equipment and stand alone electrical generators.
About Hy-Drive Hydrogen Technologies Ltd.
Hy-Drive Technologies Ltd. is an energy technology firm that has developed a proprietary, patented hydrogen generating system. The HGS(R) generates and injects hydrogen gas into a regular internal combustion engine, enhancing the combustion process by allowing fuel to burn more efficiently and completely. For further information, visit www.hy-drive.com (TSX-V: HGS)
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. When used herein, words such as "intend" and similar expressions are intended to identify forward-looking statements. Forward-looking statements are based on assumptions by and information available to Sparta and Hy-Drive ("the companies"). Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements include such risks and factors as are detailed from time to time in the periodic reports filed by the companies with regulatory authorities. Actual results may differ materially from those currently anticipated. The companies have no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
THE TSX VENTURE EXCHANGE INC. HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE SPARTA CAPITAL LTD.
For further information: For further information: related to Sparta, please contact: Ted Rousseau, President, Sparta Capital Ltd., Telephone: (780) 489-8334, Fax: (780) 487-4470, firstname.lastname@example.org OR Ray Ludwig, Vice-President Operations, Sparta Capital Ltd., Telephone: (403) 539-9146, Fax: (403) 206-7568, email@example.com