RALEIGH, N.C., May 27, 2004 (PRIMEZONE) -- HydroFlo, Inc. (OTCBB:HYRF) today outlined the Company's expectations for its strategic relationship with UTEK Corporation (AMEX:UTK) and its goal to yield technology that will help secure the nations water supply. Funding grants provided by the Department of Homeland Security are designed to assist in the development of water security technology, and HydroFlo believes that its relationship with UTEK has the potential to help to protect water supplies in the United States and around the world.
HydroFlo, thru its relationship with UTEK Corporation, has access to strategic relationships with a number of universities and research centers in the United States and Europe.
Dennis Mast, CEO of HydroFlo, Inc., stated, "The alliance with UTEK enables the Company to discover and market desired technology that has been researched and developed by scientists world-wide. Our job becomes one of bringing the developed technology to market throughout the world. The ability to add new technology related to water treatment and security is part of our strategy to build the size and scope of the Company to the benefit of our shareholders."
About 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.