Synergy Technologies Targets Fuel Cell Market

Apr 23, 2001, 01:00 ET from Synergy Technologies Corp.

    CALGARY, Alberta, April 23 /PRNewswire Interactive News Release/ --
 Synergy Technologies Corp. (OTC Bulletin Board:   OILS) today said it plans to
 enter the fuel cell market by "aggressively pursuing joint ventures and
 strategic partnerships" with major fuel cell and transportation companies that
 can potentially benefit from a number of applications of the company's
 patented and wholly-owned SynGen technology.
     The SynGen reactor, or reformer, converts natural gas and other fossil
 fuels into a synthetic gas composed of hydrogen and carbon monoxide via the
 use of a cold plasma electrical discharge.  This synthetic gas is the
 feedstock used to produce clean-burning liquid fuels in Gas-to-Liquids (GTL)
 processes.  Based on internal testing, Synergy's management believes that its
 SynGen process can not only significantly reduce the capital and operating
 costs of GTL plants, but also improve efficiencies in fuel cell technology.
     With regard to fuel cell applications, Synergy has recently tested a
 miniaturized SynGen reformer and found that it may provide the fuel cell
 industry with substantive advantages over other currently available reformers.
 In addition to scalability and energy efficiency, one of the key advantages of
 Synergy's reactor technology is the elimination of soot production in the
 reforming of liquid fuels.
     According to Thomas E. Cooley, Synergy CEO and chief technology officer,
 "We are pleased by early indications that our SynGen technology can produce
 hydrogen-rich streams for fuel cells from liquid gasoline and diesel without
 soot formation.  Power consumption by SynGen to reform liquid gasoline is only
 five percent of the theoretical power from the fuel cell.  We believe
 improvements in efficiencies are possible and further testing and development,
 to include additional miniaturization studies, will be continuing in the
 company's Calgary laboratory."
     Synergy has entered into discussions with certain prominent fuel cell and
 transportation companies to evaluate the potential use of the SynGen reformer
 in fuel cell power generation.
 
     This document may include forward-looking statements as well as historical
 information.  Forward looking statements include, but are not limited to,
 statements relating to the development of gas-to-liquids projects, heavy oil
 upgrading projects and interest in clean fuels.  When used in this document
 the words "anticipate," "believe," "estimate," "intent," "may," "project,"
 "plan," "should" and similar expressions are intended to be among the
 statements that identify forward-looking statements.  Although Synergy
 believes that their expectations reflected in these forward-looking statements
 are reasonable, such statements involve risks and uncertainties and no
 assurance can be given that actual results will be consistent with these
 forward-looking statements.  Important factors that could cause actual results
 to differ from these forward-looking statements include the potential that
 commercial-scale applications of Syngen, GTL Plants and Heavy Oil Upgrading
 facilities will not achieve the same results as those demonstrated on a
 laboratory or pilot basis or that such plants will experience technological
 and mechanical problems, the potential that the SynGen and CPJ processes
 currently under development may not be successful, the impact on plant
 economics of operating conditions (including energy prices), competition,
 intellectual property risks, Synergy's ability to obtain financing and other
 risks described in the companies corporate information.
 
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SOURCE Synergy Technologies Corp.
    CALGARY, Alberta, April 23 /PRNewswire Interactive News Release/ --
 Synergy Technologies Corp. (OTC Bulletin Board:   OILS) today said it plans to
 enter the fuel cell market by "aggressively pursuing joint ventures and
 strategic partnerships" with major fuel cell and transportation companies that
 can potentially benefit from a number of applications of the company's
 patented and wholly-owned SynGen technology.
     The SynGen reactor, or reformer, converts natural gas and other fossil
 fuels into a synthetic gas composed of hydrogen and carbon monoxide via the
 use of a cold plasma electrical discharge.  This synthetic gas is the
 feedstock used to produce clean-burning liquid fuels in Gas-to-Liquids (GTL)
 processes.  Based on internal testing, Synergy's management believes that its
 SynGen process can not only significantly reduce the capital and operating
 costs of GTL plants, but also improve efficiencies in fuel cell technology.
     With regard to fuel cell applications, Synergy has recently tested a
 miniaturized SynGen reformer and found that it may provide the fuel cell
 industry with substantive advantages over other currently available reformers.
 In addition to scalability and energy efficiency, one of the key advantages of
 Synergy's reactor technology is the elimination of soot production in the
 reforming of liquid fuels.
     According to Thomas E. Cooley, Synergy CEO and chief technology officer,
 "We are pleased by early indications that our SynGen technology can produce
 hydrogen-rich streams for fuel cells from liquid gasoline and diesel without
 soot formation.  Power consumption by SynGen to reform liquid gasoline is only
 five percent of the theoretical power from the fuel cell.  We believe
 improvements in efficiencies are possible and further testing and development,
 to include additional miniaturization studies, will be continuing in the
 company's Calgary laboratory."
     Synergy has entered into discussions with certain prominent fuel cell and
 transportation companies to evaluate the potential use of the SynGen reformer
 in fuel cell power generation.
 
     This document may include forward-looking statements as well as historical
 information.  Forward looking statements include, but are not limited to,
 statements relating to the development of gas-to-liquids projects, heavy oil
 upgrading projects and interest in clean fuels.  When used in this document
 the words "anticipate," "believe," "estimate," "intent," "may," "project,"
 "plan," "should" and similar expressions are intended to be among the
 statements that identify forward-looking statements.  Although Synergy
 believes that their expectations reflected in these forward-looking statements
 are reasonable, such statements involve risks and uncertainties and no
 assurance can be given that actual results will be consistent with these
 forward-looking statements.  Important factors that could cause actual results
 to differ from these forward-looking statements include the potential that
 commercial-scale applications of Syngen, GTL Plants and Heavy Oil Upgrading
 facilities will not achieve the same results as those demonstrated on a
 laboratory or pilot basis or that such plants will experience technological
 and mechanical problems, the potential that the SynGen and CPJ processes
 currently under development may not be successful, the impact on plant
 economics of operating conditions (including energy prices), competition,
 intellectual property risks, Synergy's ability to obtain financing and other
 risks described in the companies corporate information.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X25759847
 
 SOURCE  Synergy Technologies Corp.