HYPF Hypower Fuel Inc (CE)

HyPower Fuel Inc. (PINKSHEETS: HYPF) Mr. Douglas Bender, President of HyPower Fuel Inc., is pleased to announce the successful completion of its recent Stakeholders Summit to consider the Company�s biofuel opportunities. Mr. Bender reports that �I am very pleased to advise that we have instructed HyPower�s legal counsel to complete the Purchaser Term Sheet in accordance with the terms and conditions agreed at the Biofuel Summit. The agreement on the Term Sheet is the first major step in a three step process to the construction of a large biodiesel plant. With the successful signing of the Term Sheet and the receipt of the initial sizable deposit, the feasibility phase will immediately be commenced. As the General Partner under the Term Sheet, HyPower will retain and instruct an engineering consulting firm to complete the Feasibility Study and develop the Engineering/Procurement/Construction/Management (EPCM) Plan to be funded by the Purchaser. With the completion of an acceptable Feasibility Study and EPCM Plan, HyPower will immediately retain the general contractor for the construction of the biodiesel plant.� Mr. Bender further explained that �HyPower is at the forefront of the New Generation of biodiesel production methods and this has resulted in our HyPower Biofuel Process being of great interest to a number of sophisticated potential purchasers of large biodiesel plants. The plants will be valued in construction costs at between $10 million and $120 million per plant. Given the results of our recent meetings and negotiations, we are confident that in the weeks ahead HyPower will be announcing the commencement of a number of Feasibility Studies.� About the HyPower Biofuel Process The HyPower Biofuel process is a cutting edge biodiesel technology that has a number of competitive advantages over conventional biodiesel production methods. The HyPower process uses essentially no catalysts or water to produce biodiesel. All inputs are recovered or converted to saleable products. The capital and operating costs and the environmental footprint of the process should also be significantly less than conventional methods of biodiesel production. About HyPower Fuel Inc. HyPower Fuel, Inc. is a category leading company in the energy technology sector, focusing on providing innovative, clean alternative energies through unique methods. Currently HyPower has hydrogen insertion and production technologies and biodiesel production technologies in development and/or in the product commercialization stage. For more information please visit: www.hypowerfuel.com Safe Harbor This press release shall not constitute an offer to sell or a solicitation of an offer to buy securities of HyPower Fuel Inc. Certain statements in this release and other written or oral statements made by or on behalf of the Company are �forward looking statements� within the meaning of the federal securities laws. Statements regarding future events and developments and our future performance, as well as management�s expectations, beliefs, plans, estimates or projections relating to the future are forward-looking statements within the meaning of these laws. The forward looking statements are subject to a number of risks and uncertainties. The actual results the Company achieves may differ materially from any forward-looking statements due to these risks and uncertainties. These statements are based on our current expectations and speak only as of the date of such statements. The Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of future events, new information or otherwise.