Hydrogen Energy Center raises another $3M

Hydrogen Engine Center, Inc. (HEC) (OTCBB: HYEG) has now completed a total of over $6 million of equity financing. The company today completed a $3,022,500 private placement of its Series A Preferred Stock. The offer and sale of the Series A Preferred Stock was conducted on behalf of the Company by an NASD-licensed broker-dealer.

The Company expects to complete the final close of the private offering of its Common Stock on or around October 15, 2006. The Company is expected to file a registration statement covering investor shares prior to year end.

The company says the proceeds will primarily be deployed into "hard assets," such as plant, equipment and inventory to support its continuing initiatives to build to full production HEC's alternative fuel, low to near zero emissions, internal combustion engines and gensets.

The Company has begun the EPA certification process for its 4.9 liter Oxx Power engines to comply with the new 2007 EPA emissions standards.

For more information:

http://www.hydrogenenginecenter.com/

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