HydroGenetics, Inc. Announces Co-Development Agreement With Xynergy Holdings, Inc. on New Hydrogen Reactor
September 17 2008 - 8:30AM
Marketwired
HydroGenetics, Inc., currently trading under the symbol
(PINKSHEETS: GEAC) announced today it has finalized a
co-development agreement with Xynergy Holdings, Inc. (PINKSHEETS:
XYNH) to further develop a working prototype of a hydrogen reactor
originally developed by Xynergy in order to bring it to market and
get the reactor into production. The prototype, now installed in a
2003 Chevy Silverado truck and producing its own hydrogen through
electrolysis, currently produces over 2 litres of hydrogen per
minute. It has assisted the gas-powered truck through the infusion
of hydrogen, enabling the test vehicle to double its mileage from
14 MPG to 30 MPG. Both companies are hopeful that they will be able
to expand its current generator's output to 4 litres per minute,
producing an even greater reduction on gasoline consumption,
perhaps, but not guaranteeing, enabling a vehicle to get over 100
miles to the gallon.
In further developments, the companies both announced that they
will demonstrate the technology in the working prototype installed
in the Silverado sometime this month on their respective websites.
HydroGenetics is also expected to announce its new CEO in the
coming days, as well as more particulars relating to the
Xynergy/Hydrogenetics, Inc. relationship.
About HydroGenetics
HydroGenetics, Inc. is in the business of acquiring and
operating emerging businesses and currently owns Hilarity Films,
Global Entertainment and its subsidiary HydroAxis Technologies. It
is the company's mission to incubate these emerging companies into
revenue producing, profitable businesses through both the
investment of capital and resources as well as providing consulting
services for the benefit of management of its business units.
Safe Harbor Disclosure:
This press release includes "forward-looking statements" within
the meaning of the federal securities laws, commonly identified by
such terms as "believes," "looking ahead," "anticipates,"
"estimates" and other terms with similar meaning. Although the
Company believes that the assumptions upon which its
forward-looking statements are based are reasonable, it can give no
assurance that these assumptions will prove to be correct.
Important factors that could cause actual results to differ
materially from the Company's projections and expectations are
disclosed in the Company's filings with the Securities and Exchange
Commission. All forward-looking statements in this press release
are expressly qualified by such cautionary statements and by
reference to the underlying assumptions.
For more information or investor questions contact Jeffrey Ross
Sr. Vice President Investor Relations 1-877-576-8007
jross@hydrogeneticsusa.com www.hydrogeneticsusa.com
Xynergy (CE) (USOTC:XYNH)
Historical Stock Chart
From Jul 2024 to Aug 2024
Xynergy (CE) (USOTC:XYNH)
Historical Stock Chart
From Aug 2023 to Aug 2024