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HydroGenetics, Inc.: HydroGenetics, Inc. Signs Binding Letter of Intent With Developer of Super Efficient Magnetic Drive System

^{Published on 2009-04-16 06:38:09, Last Modified on 2009-04-16 06:38:46 - Market Wire}
 

MIAMI, FL--(Marketwire - April 16, 2009) - HydroGenetics, Inc. (PINKSHEETS: [ HYGN ]) announced today it signed a binding letter of intent to purchase the rights to further develop a magnetic device that has the potential to shatter conventional physics law as we know it. The device has multiple industrial applications for loosely coupled right angled drives. The inventor has extensive experience in engineering, and has developed two prototypes inspected by management. The intellectual property rights to the technology will be owned by the company. Testing by international experts is underway to establish efficiency results and assess applications.

"This is a very significant relationship and acquisition right for the company to solidify," says CEO Charles Hansen III. "We are confident, though cautiously optimistic, that the experts assembled to assess this machine will discover something quite unique about our machine. As has been the case from day 1 with HydroGenetics, we are committed to discovering and developing new and emerging green solutions."

About HydroGenetics, Inc.

HydroGenetics, Inc. is an alternative energy company. The company's mission is to acquire and develop alternative and "green" technology companies into revenue producing, profitable businesses, utilizing investment capital and other resources including management and strategic planning to increase shareholder value. HydroGenetics, Inc.'s wholly owned subsidiary, HydroAxis Technologies, Inc., is currently developing "green hydrogen generating technology systems for any internal combustion engine," which will significantly reduce gasoline consumption in existing and new vehicles.

Forward-Looking Statements

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