Hy-Drive Technologies raises $22,100,000

Hy-Drive Technologies Ltd. today announced financing to raise up to Cdn$22.1 million Hy-Drive is an energy technology firm that has developed a proprietary, patented hydrogen generating system. The Hy-Drive system generates and injects hydrogen gas into a regular internal combustion engine, enhancing the combustion process by allowing fuel to burn more efficiently and completely. In previous extensive customer trials and third party tests, the Hy-Drive system has demonstrated significant performance enhancements, including reduced emissions, increased torque/horsepower and significant fuel savings.