HyPower Fuel Announces Acquisition Update and Tier Upgrade

   HyPower Fuel Inc. (PINK SHEETS: HYPF)

HyPower announced today that its Board of Directors and consultants have been working diligently on closing two acquisitions and expect to be able to announce one of these acquisitions by the end of the month. HyPower's Board has also decided to take the next logical step forward and upgrade to the OTC Pink Current Information tier. Mr. Douglas Bender, CEO of HyPower, explained that "we believe that both acquisitions being negotiated have great possibilities for value appreciation and synergy with HyPower. These are leading edge companies whose technologies and offerings are exceptional. Their managerial talent and innovation, combined with HyPower's resources, could propel us to quick and steady growth and profitability." In regards to the Tier Upgrade, Mr. Bender commented that "we have already begun the process of upgrading to OTC Pink Current Information. This is but the first step in our overall plan to uplist to a recognized exchange in the US and possibly cross-list with a foreign exchange such as the Frankfurt or TSX Venture Exchange."

About HyPower Fuel Inc.

HyPower is a category leading company in the energy technology sector, providing innovative, clean alternative energies through unique methods. Currently HyPower has hydrogen insertion/production and biodiesel technologies in development and/or in the product commercialization stage. For more information please visit: www.hypowerfuel.com and/or contact us at: [e-mail]

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 actual results achieved 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.

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