FUEL SYSTEMS CLOSES $1,200,000 ACCREDITED INVESTOR
2005 Tampa, Florida: Hybrid Fuel Systems, Inc. ("Hybrid" or the "Company")
(OTCBB: HYFS) today announced the Company has received $600,000 out of a total
commitment of $1,200,000 from various accredited investors in exchange for a
series of Convertible Promissory Notes and Class A Warrants. Sichenzia Ross
Friedman Ference LLP, http://www.srff.com/,
represented Hybrid in connection with this financing.
encouraged by the accredited investor's vote of confidence in our enterprise"
said CEO Mark Clancy. "This financing will allow us to complete the build-out of
our new Atlanta, Georgia based emission lab as well as enhance our program to
commercialize Hybrid’s Fuel2 system", concluded Mr. Clancy.
Company will receive the remaining $600,000 after the effective date of a
registration statement to be filed in connection with the funding The details of
the funding are included in a Form 8-K filing together with Exhibits.
Hybrid Fuel Systems, Inc. - Hybrid
was formed in 1996 to commercialize retrofit systems for the conversion of
stationary or vehicular diesel engines to non-petroleum based fuels such as
natural gas. The Company's technology is based on five patents and one patent
are cautioned that certain statements contained in this document are
"Forward-Looking Statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 (the Act). Forward-looking statements include
statements which are predictive in nature, which depend upon or refer to future
events or conditions, which include words such as "believes," "anticipates,"
"intends," "plans," "expects," and similar expressions. In addition, any
statements concerning future financial performance (including future revenues,
earnings or growth rates), ongoing business strategies or prospects, and
possible future Hybrid actions, which may be provided by management, are also
forward-looking statements as defined by the Act. These statements are not
guarantees of future performance.
information contact Mark Clancy, Chief Executive Officer (813)-624-5515 or visit
the Company's website at www.hybridfuelsystems.com.