Synergy's fuel cell tech is Ballard's need !!Check out this News Release and you can then
understand why Synergy's technology maybe exactly
What Ballard's fossil fuel cells need.
www.synergytechnologies.com
(Applies to: OILS)
SYNERGY NEGOTIATING FUEL CELL APPLICATIONS FOR ITS SYNGEN TECHNOLOGY
CALGARY, Alberta, Jan 24, 2000 /PRNewswire via COMTEX/ -- Synergy
Technologies Corp. (OTC Bulletin Board: OILS) today said it is
currently in negotiations with several leading corporations regarding
use of the company's proprietary SynGen technology for various fuel
cell applications.
Synergy has executed Letters of Confidentiality with two of these
corporations, one a major automobile manufacturer and the other a
prominent fossils fuels company, regarding use of SynGen technology for
the production of hydrogen to fuel both stationary and onboard fuel
cell applications.
Synergy is also pursuing similar negotiations with other parties,
including transportation companies, in Canada and the U.S.
Based on completion of recent testing, Synergy believes its SynGen
technology produces hydrogen from fossil fuels at significantly lower
cost than competing technologies. This hydrogen is utilized as a
clean-burning fuel in fuel cells, which are currently used as portable
power products by utilities, hospitals and hotels around the world, and
which are soon expected to be introduced for mainstream use in
automobiles, locomotives and other internal combustion products and
systems.
"We strongly believe that SynGen technology, with its reduced capital
cost and operating expense, can competitively supply the hydrogen
required for various fuel cell applications," said Thomas E. Cooley,
director of Synergy subsidiary, SynGen Technologies, Ltd. "We are
optimistic that our current negotiations will soon result in the
construction of a SynGen reactor specifically designed for use in this
sector."
The market potential for technologies such as SynGen in the fuel cell
industry is in the multi-billion dollar range.
Synergy Technologies Corporation is a technology company with a present
focus on developing oil and gas related technologies. The company holds
the rights to a patented technology for the conversion of gas to
liquids ("GTL") and the rights to a patent pending heavy oil upgrading
technology ("CPJ Process") for the conversion of heavy to light crude.
The company holds interests in both identified technologies. Both
technologies are presently under development.
This document may include forward-looking statements as well as
historical information. Forward-looking statements include, but are not
limited to, statements relating to the development of gas-to-liquids
projects and interest in clean fuels and heavy oil upgrading projects.
When used in this document the words "anticipate", "believe",
"estimate", "intent", "may", "project", "plan", "should" and similar
expressions are intended to be among the statements that identify
forward-looking statements. Although Synergy believes that their
expectations reflected in these forward-looking statements are
reasonable, such statements involve risks and uncertainties and no
assurance can be given that actual results will be consistent with
these forward-looking statements. Important factors that could cause
actual results to differ from these forward-looking statements include
the potential that commercial-scale GTL and/or Heavy Oil Upgrading
facilities will not achieve the same results as those demonstrated on a
laboratory or pilot basis or that such plants will experience
technological and mechanical problems, the potential that the GTL and
CPJ processes currently under development may not be successful, the
impact on plant economics of operating conditions (including energy
prices), competition, intellectual property risks, Synergy's ability to
obtain financing and other risks described in the company's corporate
information. The SynGen technology is protected by US Patents 5,993,761
and 6,007,742.
SOURCE Synergy Technologies Corporation
(C) 2000 PR Newswire. All rights reserved.
https://www.prnewswire.com
-0-