Hy-Drive Technologies announces invitation to mining expo by MTI
Hy-Drive is pleased to announce their upcoming involvement in the 2006, 21st annual Elko Mining Expo, in Elko Nevada. This invitation stems from the very positive results generated by Mining Technologies Inc. (MTI) in its recent testing of Hy-Drive’s Hydrogen Generating System (HGS) units on certain mining equipment as contemplated in the previously announced Memorandum of Understanding between MTI and Hy-Drive.
In a previous announcement, Hy-Drive reported the signing of a Memo of Understanding with Canadian mining equipment manufacturer Mining Technologies International (MTI). MTI have been testing Hy-Drive’s Hydrogen Generating System technology on a number of pieces of mining equipment.
Preliminary test results on MTI’s LT 650 equipment, have proven to be VERY encouraging, showing a significant reduction in emission output (reduced CO to 0%, NOx down 20%, HC hydrocarbons, toxic, down from 40.9 ppm to 2 ppm and PM down 78%) as well as a 27% reduction in fuel consumption. As a result of these findings and the resulting interest that has been demonstrated by MTI’s customers (especially as it pertains to emissions reduction), Hy-Drive has been invited to accompany MTI to the 2006 Elko Mining Expo – a show positioned in the heart of the worlds second largest gold production area.
“We are very excited to have Hy-Drive accompany us to the Elko show, said Bob Lipic, President and CEO of MTI. This is home to some of our most significant mining clients in the USA and we are proud to be introducing Hy-Drive to them. Having witnessed in our own testing the visible emissions from our LT 650 being almost entirely eliminated, convinces us that this technology may prove to be one of the most significant breakthroughs we’ve experienced in our time, as it relates to mining and miners’ respiratory safety”, he went on to say.
“We too are very excited to be invited to participate along side MTI at this important event” said Tom Brown, President and CEO of Hy-Drive Technologies Ltd. Our relationship with MTI is a very important one to us and when we witness the results that they’ve been experiencing, as well as comments from MTI that with this technology there may be a resurgence of the two cycle engine, we are very excited.” “It’s a well known fact that two cycle diesel engines have been great workhorses in the heavy equipment sectors, due to their higher power to weight ratio and less complicated valve train, compared to that of the four cycle engine. However, their typical lifespan is quite short compared to that of a four cycle engine because of the carbon buildup that occurs as a result of combustion. With Hy-Drive’s injection of hydrogen there is a more complete burn of the diesel fuel, resulting in burning off the excess carbon that is typically deposited inside the engine. This may eliminate the one big negative that puts a damper on the use of these very efficient machines, while yielding significantly improved fuel economy, reduction in hazardous emissions and less maintenance as a very valuable bi-product.”
The 2006 Elko Mining Expo (www.elkocva.com/miningexpo.shtml) will be held from June 5-9, 2006. Along with representation from both MTI and Hy-Drive, MTI will be displaying one of their 4.5 yard, LT-650 scoops equipped with a Hy-Drive HGS.
About Hy-Drive
Hy-Drive is an energy technology firm that has developed a proprietary, patented hydrogen generating system. The Hy-Drive system generates and injects hydrogen gas into a regular internal combustion engine, enhancing the combustion process by allowing fuel to burn more efficiently and completely. In previous extensive customer trials and tests, the Hy-Drive system has demonstrated significant performance enhancements, including reduced emissions, increased torque/horsepower, fuel savings and extended engine life. These benefits, specifically fuel economy and reduced emissions, provide customers with greater productivity overall, as their engines operate more efficiently, with improved cycle times and less carbon build-up. For further information, visit www.hy-drive.com.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this press release may constitute forward-looking statements. Such statements reflect Hy-Drive’s current views with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause Hy-Drive’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including among other things, those which are discussed under the headings “Risk Factors” and elsewhere in documents that Hy-Drive files from time to time with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Hy-Drive does not intend, and does not assume any obligation, to update these forward-looking statements.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept
responsibility for the adequacy or accuracy of this release.
For further information
Investor Relations: Glen Akselrod, Bristol Capital Ltd., Tel: (905) 326-1888, glen@bristolir.com or Tom Brown, Hy-Drive Technologies Ltd, Tel: (905) 542-3024, ext. 300, Email: tombrown@hy-drive.com
Media Relations: GCI Group, (416) 486-7227
Source: Hy-Drive Technologies Ltd.
