GreenChek Distribution Update
14 Avril 2009 - 12:59AM
Business Wire
GreenChek Technology Inc. (OTCBB:GCHK), a leading globally
focused provider of hydrogen fuel cell technology, is pleased to
report that the previously announced Internet marketing campaign
designed to develop a North American distribution partner network
has had a tremendous response. To date we have received
applications from 93 distributors and are currently in the process
of qualifying the candidates per region. Our initial goal was to
establish 30 regional distribution partners in 2010, growing by 30
distributors annually to 90 regional distribution partners by the
end of 2012. The estimated potential gross revenue from this
project for 2010-2012 is $76.8 million. We believe we are well on
our way to building a strong network of distributors in North
America and look forward to having the majority of the regions
qualified and up and running in the second quarter of 2010.
GreenChek continues to execute European distribution
arrangements with TESEL and is experiencing increasing interest in
further implementations. GreenChek is on track to meet our major
milestones with respect to ERD distribution within the UK. As
previously announced, we expect to begin installing ERD units for
Heavy Goods Vehicles in the United Kingdom in the second quarter
for our European distributor TESEL. The current install base can
potentially add $8.8 million Euros to GreenChek gross revenues over
the next 4 years.
�We are very pleased with the North American and European market
development for the ERD and expect to see continued installations
and interest in the coming quarters,� stated Lincoln Parke,
President of GreenChek. �The interest in our ERD 2.0 has been
overwhelming in the truck transportation sector.�
About GreenChek
GreenChek Technology Inc. is traded under the symbol GCHK on the
OTCBB exchange and is based in San Francisco, California. GreenChek
manufactures and distributes hydrogen injection technology that is
primarily focused on mobile transportation applications, as well as
stationary power generation applications. GreenChek manufactures an
emission reducing device simply known as the ERD�, which can be
retrofitted to any vehicle regardless of fuel source. GreenChek
provides innovative world-class mobile Greenhouse Gas (GHG)
emissions reduction technology, while greatly enhancing fuel
economy for the mobile transportation industry. GreenChek�s Onboard
Hydrogen Generation and Injection (OHGI) technology is positioned
to occupy the pre-eminent position in the emerging market for
emissions reduction technology and fuel economy enhancement.
GreenChek has operations in the United States, Canada, Asia and
Europe.
Safe Harbor Statement
Statements in this press release regarding GreenChek�s products,
services, capabilities, performance, opportunities, development and
business outlook that are forward-looking involve and are subject
to known and unknown risks, uncertainties and other factors, some
of which are beyond GreenChek's control and difficult to predict,
and could cause actual results to differ materially from those
anticipated, expressed or forecasted in the forward-looking
statements. Such risks and uncertainties may include, but are not
limited to: lack of operating history, transitioning from a
development company to an operating company, difficulties in
distinguishing GreenChek's products and services, ability to
manufacture and deploy GreenChek's products, lack of or delay in
market acceptance and fluctuations in customer demand, dependence
on a limited number of significant customers, reliance on third
party vendors and strategic partners, availability of raw
materials, subassemblies and components, ability to meet future
capital requirements on acceptable terms, continuing uncertainty in
the emissions reduction industry and the global economy, compliance
with federal and state regulatory requirements, timing,
availability and success of new technology and product
introductions and the other factors discussed in GreenChek's
filings with the Securities and Exchange Commission.
Greenchek Technology (CE) (USOTC:GCHK)
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