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PRESS RELEASES Return to Press Release Menu ENERGY VENTURES INC. NEWS RELEASE APRIL 14TH 2000 Contact - D. Wayne Hartford hartford@energyvi.com Tel. (416) 733-2736 or Terry B. Kimmel Terry.Kimmel@nrc.ca Tel. (613) 990-9373 ENERGY VENTURES INC. RECEIVES $495,000 "BOOST" FROM PRE-COMMERCIALIZATION ASSISTANCE PROGRAM TORONTO, Ontario - Mr. Wayne Hartford, President of Energy Ventures Inc. (OTCBB: NASDAQ, symbol "EGYV") of Toronto, Ontario is pleased to announce that that its 100% owned Canadian subsidiary, Energy Ventures Inc. (Canada), ("EVI Canada"), will receive a $495,000 (Canadian) repayable contribution from the Canadian Government under the IRAP-TPC Precommercialization Assistance initiative. This initiative is a joint venture that brings together the National Research Council’s (NRC) Industrial Research Assistance Program (IRAP) and Industry Canada’s (IC) Technology Partnerships Canada (TPC). This initiative provides assistance to small and medium-sized enterprises (SMEs) in bringing their new technologies from proof of concept to readiness for commercial use. With this assistance, EVI Canada will aggressively work towards the development of its Nickel Zinc and its Zinc-Carbon-Bromine rechargeable battery technologies. Funding for the program is based on a cost-shared basis. The total cost of EVI Canada's Nickel Zinc and Zinc-Carbon-Bromine battery program is $1.5 million (Canadian) over the next 14 months to 18 months. Wayne Hartford stated, "We are extremely pleased with the support we have received from NRC over the past three years. Not only have we established a strategic technical alliance with NRC's Institute for Chemical Process and Environmental Technology in Ottawa but we have also received financial support from NRC's IRAP program. These relationships are very important in the development of young technology companies. NRC's programs recognize that companies at EVI Canada's growth stage require both technical and financial support. The assistance is repayable out of EVI Canada's gross revenues from April 1, 2003. The total amount repayable cannot exceed $742,500 (Canadian)." Korea's Young Poong Corporation has an option to licence EVI Canada's Nickel Zinc rechargeable battery technology. EVI Canada is presently completing its development on this technology and entering performance and beta testing cycles. EVI Canada anticipates that the Nickel Zinc battery will find a market as a replacement for Nickel Cadmium and Nickel metal hydride batteries. The Zinc-Carbon-Bromine rechargeable battery is aimed at markets for rechargeable batteries in developing countries. We note that statements made in this release which are not historical facts are forward-looking statements, and as such, are based upon our objectives, expectations, intentions and assumptions. Such statements cannot be guaranteed, and involve a number of risks and uncertainties, including, but not limited to, general economic conditions and our ability to successfully complete our R&D programs already in progress. Energy Ventures Inc., is a portable power technology company actively involved in a variety of battery and fuel cell research, development and commercialization projects. For further information please contact either Wayne Hartford at (416) 733-2736 or Terry Kimmel at (613) 990-9373. EVI's website can be found at http://energyvi.com - 30 -