TAMPA, Fla., Mar 07, 2006 -- BUSINESS WIRE

 

Hybrid Fuel Systems, Inc., ("Hybrid" or the "Company") (OTCBB:HYFS), manufacturer of a patent dual-fuel diesel to natural gas conversion technology today announced the formation of two new divisions and change in the Company's name from Hybrid Fuel Systems, Inc. to US Energy Initiatives Corporation.

"In anticipation of our shareholder meeting scheduled for March 31st, we are announcing today the broadening of our business mission under the banner of US Energy Initiatives," said Hybrid CEO Mark Clancy. "Our core business remains the delivery of our patent dual fuel technology. To compliment the sale of our technology, we are launching a biofuels division with a mandate to produce a biodiesel with zero emissions that is 100% made in America. We pledge to avoid using foreign sources either for our feedstocks or the production of our biofuels. If we are successful in that effort, we anticipate combining the sale of our biofuel with our conversion system offering end users an economical option with a powerful environmental benefit. We are also announcing today that with the completion of our development facility/emissions lab in PeachTree City, Georgia, we now have the resources to incubate promising new energy related technologies. We believe this three-pronged approach works to expand our revenue model and allows us to remain in the forefront of new and promising energy technologies," concluded Mr. Clancy.

About Hybrid Fuel Systems, Inc.: Hybrid Fuel Systems, Inc. (OTCBB:HYFS), formed in 1996, delivers its patent dual-fuel diesel to natural gas conversion technology and resells a portfolio of gasoline to natural gas and propane conversion systems through both Company-owned and franchised service centers in twelve states and directly to domestic and international original equipment manufacturers. The Company's primary facility is a 12,000 square foot state-of-the-art systems development and emission testing lab in Atlanta, Georgia. The Company's current clients include General Motors (NYSE:GM), http://www.gm.com; United Parcel Service (NYSE:UPS), http://www.ups.com; US Postal Service; Dallas County School System; Portland, Oregon School System; Oklahoma Natural Gas and a host of private purchasers.

For information at the Company contact CEO Mark Clancy, the Company's corporate headquarters at 813-979-9222 or by cellular phone at 813-624-5515 or visit the Company's web site at http://www.hybridfuelsystems.com

Investors 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. 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.

SOURCE: Hybrid Fuel Systems, Inc.

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