Cube Psytech Holdings Inc. T.P

News

[parachute]

RAILPOWER TECHNOLOGIES CORP. Quick Quote: P 4.10 (+0.05) RailPower 'partners' with Sweden's STT for Green Goat(R) conversions in Scandinavia. 9/28/04 VANCOUVER, BC and CHICAGO, IL, Sep 28, 2004 (Canada NewsWire via COMTEX) -- RailPower Technologies Corp, the world leader in performance-enhancing hybrid locomotive technology, and Swedish Train Technology ("STT"), announced today at Chicago's Global Railway Tech 2004 show a Memorandum of Understanding ("MOU") for Green Goat(R) Series hybrid locomotive conversions in Scandinavia. RailPower President and CEO, Jim Maier, said, "This is RailPower's first major partnership in Europe and one that will be focused firmly on Scandinavia where there is a strong drive to introduce locomotive technology that also brings improvements in performance, noise reductions, fuel savings and emissions reductions. "As we did with the Australian and SE Asia markets, we have carefully considered suitable candidate companies to introduce our hybrid technology. After lengthy due diligence, we are very pleased to have now entered into an MOU with STT which has a long and successful 80-year history in transportation. We anticipate a formal partnership contract for hybrid conversion work in Scandinavia to be concluded within a few weeks. " STT Managing Director, Stellan Hagman said, "RailPower's hybrid locomotive technology has, we believe, a significant market opportunity in Scandinavia where eco-friendly technology is an important consideration. "We have wide experience of various types of reconditioning and refurbishment work. We primarily work with diesel railcars and locomotives, but also with special vehicles such as maintenance units for rail infrastructure. Part of our concept is to use standard components as far as possible. In this way we can ensure the most cost-effective solutions in our reconditioning and remanufacturing projects." RailPower's Green Goat(R) Series hybrid yard locomotives for switching (shunting) reduce diesel fuel use and greenhouse gas emissions 40-60%, and cut smog-precursor oxides of nitrogen (NOx) and particulate emissions 80-90%, when compared to similarly power-rated conventional yard locomotives in North America. They are also ultra quiet. STT (www.stt-train.se) has its origin in the Swedish transport industry. Its business in trucks and buses dates back the early 1920's. The deregulation of the Swedish railway monopoly in 1989 signaled a new era for the company. BK Tag was formed in 1990, and was the first privately owned company to be responsible for regional train services in the south of Sweden. This was soon followed by the need for maintenance services and, at early stage, BK started to develop refurbishment and overhauls, including adding new drive lines to enhance fuel economy and reduce emissions. 1995 saw the arrival of BK Gruppen, home to the company's rail workshop resources. It was renamed to Svensk Tagteknik in 2003 to further develop the rail workshop operation. STT Svensk Tagteknik has its head office and main activities in Vetlanda. STT has service and maintenance contracts in its facilities at Nassjo, Falkoping, and Savsjo. VIEW ADDITIONAL COMPANY-SPECIFIC INFORMATION: https://www.newswire.ca/en/releases/orgDisplay.cgi?okey=98507 For further information: Contacts: Nigel Horsley, Director,Communications, RailPower, [phone] ext 215; Simon Clarke, ExecutiveVice President, RailPower, [phone] ext 206; Stellan Hagman, ManagingDirector, STT, [phone] (cell); Leif Mattson, Sales Manager, STT,[phone] (cell); Jay Hussey, Investor Relations, The Equicom GroupInc., [phone] ext. 225 News release via Canada NewsWire, Vancouver 604-669-7764 Copyright (C) 2004 CNW, All rights reserved © 2004 Stockgroup Media Inc. | Disclaimer