HTC HTC Purenergy Inc

HTC Purenergy (the "Corporation" and/or "HTC") (TSX VENTURE:HTC) today announced
its audited financial results for the fiscal year ending December 31, 2008. 




                                     Fiscal Year Ending  Fiscal Year Ending
                                      December 31, 2008   December 31, 2007
                                     ------------------  ------------------

Total Assets                                $29,430,079         $20,411,042
Revenue                                      $4,597,576            $270,841
Net Income (Loss) from operations              $934,867         $(2,615,302)
Net Income (Loss) for the year
 after unusual items                        $(3,759,152)         $2,271,231
Common Shares outstanding as of
 year end                                    17,429,451          14,343,122
Profit (Loss) per Common Share
 (weighted average)                               $(.24)              $0.19
Fully Diluted Profit (Loss) per
 Common Share (weighted average)(i)                   -                $.15

(i) Diluted net loss per common share is not presented for December 31, 2007
    as the effect of common share options would be anti-dilutive. 


 
As at December 31, 2008, total assets were $29,430,079, as compared to
$20,411,042 for the previous fiscal year. The increase in total assets is
primarily due to the injection of funds from the sale of shares as well as an
increase in long term investments. These combined with amounts generated through
operations result in a stronger overall asset position. Included in total assets
for 2008 are short term investments totaling $10,632,601 in term deposits and
accrued interest compared with $4,700,000 in the previous year. 

 
For the year ended December 31, 2008 the Corporation had operating revenue of
$4,597,576. Revenues arose primarily from engineering and process design
projects in Europe, Canada, and the United States. In addition, the Corporation
received $313,530 in project fees in 2008. The Net Loss after unusual items and
income from Equity Investment recorded at the end of 2008, in the amount of
$3,759,152 was primarily attributable to the return of EESTech Inc. shares and
the re-acquisition of EESTech CO2 Technologies Pty. Ltd., resulting in an
unusual loss of $4,717,200. 

 
The Corporation had a strong year and was able to realize the objectives it set
for itself in the prior year. HTC comes out of the year with a stronger Team
CO2, new global collaborative partners, increased global brand recognition and
recognition as to our capabilities and expanded alliances that will enable HTC
to not only reach more potential customers but also provide their services and
products. 


Financial results have been prepared in accordance with generally accepted
accounting principals in Canada. 


The information and opinions expressed herein involve known and unknown risks
and uncertainties that may cause the Corporation's actual results or outcomes to
be materially different from those anticipated and discussed herein. In
assessing forward-looking statements contained herein, readers are urged to read
carefully all cautionary statements contained in this news release, and in those
other filings with the Corporations' Canadian regulatory authorities as found in
'www.sedar.com'. Although we believe that the expectations reflected in our
forward-looking statement are reasonable, we cannot guarantee future results,
levels of activity, performance or achievements or other future events. We are
under no duty to update any of our forward-looking statements after the date of
this news release, other than as required and governed by law. 


HTC Purenergy corporate developments can be followed on www.htcenergy.com and is
traded under the symbol HTC.

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