RALEIGH, N.C., May 20, 2004 (PRIMEZONE) -- HydroFlo, Inc. (OTCBB:HYRF) today announced that the Company is pursuing Research and Development grants from the U.S. Department of Homeland Security. Company CEO Dennis L. Mast has submitted an application to Central Contractor Registration, a division of the Department of Homeland Security, and HydroFlo has created a division within the Company to assist state and local governments, which are the potential customers for HydroFlo's water treatment technologies and the primary beneficiaries of federal grant programs.
In response to a directive from its Board of Directors, the Company has begun working with Perennial Strategy Group, a Washington D.C. based lobbying firm, to assist in the allocation process of federal grants to improve the patented technology developed by HydroFlo Inc. Perennial will be charged with introducing HydroFlo and its patented and innovative technology to the agencies responsible for federal Research and Development grants.
"The water industry remains the focus of the Company, and the opportunities for Federal funding are just an additional benefit as HydroFlo moves forward to expand its presence nationally. The recent association with university laboratories worldwide enables the Company to bring technologies forward that will provide security measures for the waters in the country. By lobbying for Federal monies allocated by Congress, HydroFlo can help to introduce its new product lines to the nation. In this way, we believe that HydroFlo, Inc.'s subsidiary can expand its customer base and product offering for the benefit of the Company's shareholders," commented Dennis L. Mast, CEO and Chairman of HydroFlo, Inc.
HydroFlo, Inc. (http://www.hydroflo.us) is a Business Development Company whose core focus is to seek out synergistic acquisitions that will provide capital appreciation and income from its portfolio companies. Its first portfolio investment company, HydroFlo Water Treatment (http://www.hydroflo-inc.com) is in the business of providing aeration equipment used for the pre-treatment of wastewater. Using the patented Pressure Line Up-Stream or PLUS pre-treatment system, HydroFlo Water Treatment provides customers a treatment process at their pumping stations, prior to the wastewater reaching a treatment plant.
Statements regarding financial matters in this press release other than historical facts are ``forward-looking statements'' within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.