HYPF Hypower Fuel Inc (CE)

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.