Truck News

Product

Hy-Drive hurting

MISSISSAUGA, Ont. -- Hy-Drive Technologies, a company that provides a hydrogen generating system it says saves fuel...


MISSISSAUGA, Ont. — Hy-Drive Technologies, a company that provides a hydrogen generating system it says saves fuel and reduces emissions, has reported a third quarter loss of $2.2 million.

The company reported a loss of $996,279 a year ago. Yesterday’s loss amounted to four cents per share. The Canadian company, which promotes its technology within the trucking industry, earned revenues of $280,090 for the period ending Sept. 30. That’s far better than last year when it had no earnings to report for the same time period.

“Third-quarter focus has been working with existing North American partners on the refinement and improving our existing HGS G-2 unit for validation of our upcoming third-generation slated for early 2007,” chief operating office John Wright said in a statement. “In addition, we have continued to increase our international base of strategic partners together with finding new applications and market verticals for our technology.”


Truck News

Truck News

Truck News is Canada's leading trucking newspaper - news and information for trucking companies, owner/operators, truck drivers and logistics professionals working in the Canadian trucking industry.
All posts by

Print this page
Related Articles
TruckNews
TodaysTrucking


Have your say:

Your email address will not be published. Required fields are marked *

*