HYPF Hypower Fuel Inc (CE)

HyPower Fuel, Inc. (Pinksheets: HYPF) A spokesman for HyPower Fuel is pleased to announce that in conjunction with the corporate year end of March 31, the Company concluded a number of deals to increase shareholder value. Firstly, the Company has completed the purchase of the remaining technology rights for North America of the biodiesel technology under development. Mr. Douglas Bender, President of HyPower Fuel Inc., reports that �We are indeed pleased that our minority partner in the biodiesel process has been so impressed by our advancements with the technology that they have requested that we control all aspects of final technology development, marketing and distribution of this unique biodiesel process. To show their confidence in HyPower�s future success in the biodiesel industry, they have agreed to accept a block of common shares and a royalty of approximately 2% on each gallon of biodiesel produced. The common shares to be issued on this transaction will be offset by an equal number of common shares purchased at par value of $0.001 per share from affiliates and control persons such that there will be no increase in the outstanding shares of HyPower.� Doug Bender went on to say that �in addition to the above, the control block shareholders have agreed to the redemption of up to 100 million common shares at a redemption price of $0.004 per share. The net effect of this agreement, if concluded in its entirety, could mean the reduction of the issued and outstanding shares by almost 30%. This is particularly significant given the contracts currently under negotiation and the near term potential for the sale of the technology for use in biodiesel plants.� Mr. Bender concluded by saying that �We trust that our shareholders will be pleased with HyPower�s commitment to increase shareholder value and to reduce the issued and outstanding shares.� 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 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.