HyPower Fuel Announces Successful Negotiations to Secure Biofuel Patent Rights

  
    
  
  
    
      Mr. Douglas Bender, President of HyPower Fuel Inc. (PINKSHEETS: HYPF), 
      announced today that “I am very pleased to 
      announce successful negotiations to secure the worldwide patent rights 
      to what we term the HyPower Biofuel Process. These negotiations have 
      resulted in HyPower ultimately being the assignee of all existing 
      patents pending in Europe as well as all patent applications, technical 
      notes and knowhow associated with the process that has been developed in 
      conjunction with our European scientists. We have initiated the 
      necessary patent searches required to re-verify that the process is 
      truly novel and unique and to incorporate any additional improvements 
      before we file our United States patent. I want to assure our 
      shareholders that we have been busy and have retained an excellent 
      patent attorney in Calgary, Alberta to work with our Scientific and 
      Business Advisory teams to draft the very best additional patents 
      possible.”
    
    
      Mr. Bender further explained that “this is a 
      very important step for HyPower and its New Generation of 
      biodiesel production methods. The issuance of patents and patent pending 
      status in the world’s largest markets is 
      essential to ensure that we can protect our interests and the interests 
      of our current and future interested purchasers. In particular, one of 
      our potential Asian purchasers requested patent pending protection as a 
      minimum pre-condition to continued discussions. We believe that the 
      acquisition of the worldwide patent rights will allow us to negotiate an 
      increased value for our technology and that our potential Asian purchaser’s 
      pre-condition has been met.”
    
    
      Finally, Mr. Bender discussed the terms and conditions of the patent 
      rights assignments: “HyPower was successful in 
      negotiating a successful efforts, non-share, cash purchase of the 
      rights. HyPower will be required to pay the total sum of $500,000 Cdn. 
      ($475,000 US) upon the successful completion of a number of events 
      including, conclusion of the assignment agreements, filing of the United 
      States patent and the construction of the first large-scale alpha plant. 
      By structuring the purchase in this manner we have guaranteed the 
      continued involvement of our European scientists while minimizing the 
      risks to our shareholders. Discussions are continuing regarding what, if 
      any, royalty-sharing and/or options will be made available as incentives 
      to expedite and conclude the entire process.”
    
    
      About the HyPower Biofuel Process
    
    
      The HyPower Biofuel process is a cutting edge, New Generation, 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.