October 16, 2006

Hy-Drive receives $444K order for mining industry product

TORONTO, ONT-Less than six weeks after signing an exclusive North American marketing and distribution agreement with Mining Technologies International (MTI), Hy-Drive Technologies has received a $444,000 purchase order for the mining product jointly developed by the two firms. This is the first sales order under the agreement between the two firms (EcoWeek September 18, 2006) and represents the first for a product utilizing Hy-Drive's Clean Burn Technology(tm) adapted specifically for the mining industry. The unit design will feature a sleeker profile for simplified installation on underground vehicles, which are limited by the confined space in a mine. In addition, the mining product will include a steel-reinforced casing to protect the unit from damage caused by falling ore. Earlier this year MTI purchased 36 of Hy-Drive's hydrogen generating system (HGS) units. Testing of those systems on mining equipment showed fuel savings of 27%, in addition to a 99% and 95% reduction in carbon monoxide and hydrocarbon emissions, respectively. "With the increasing demands and emphasis for health and safety among the various mining unions, this product is the key to the improved air quality that our customers have been seeking. The fuel savings are just icing on the cake," said MTI president and CEO Robert Lipic. MTI, based in Sudbury, Ont, manufactures and supplies mining systems and equipment for both underground and surface operations worldwide. Hy-Drive's patented HGS generates and injects hydrogen gas into a conventional internal combustion engine, resulting in more efficient, complete combustion of the fuel. This, in turn, produces demonstrated performance improvements, including reduced emissions and fuel savings.

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