GreenChek Enters Into Letter of Intent
24 Juin 2010 - 2:45PM
Marketwired
GreenChek Technology Inc. (OTCBB: GCHK) today announced that the
Company has received a Letter of Intent (LOI) from a Hong Kong
customer. The LOI is expected to result in a purchase order for the
manufacture and delivery of 15 ERD™-3.0 units within 60 days.
The LOI follows on from successfully completed field trials in
Europe undertaken by European transportation companies over the
past two years with heavy goods vehicles (HGV). With 3rd party
verification completed and results proving the reduction of
emissions and fuel savings by using the ERD™-3.0 technology, sales
opportunities are opening up for the Company.
According to the "Hong Kong Special Administrative Region,
Transport Department 2009," the air in Hong Kong contains almost
three times more pollutants than New York's and more than twice
that in London. Hong Kong's roads are some of the most crowded in
the world, with more than 280 licensed vehicles for every kilometer
of road. Diesel commercial vehicles are responsible for 90% of
particulate matter (PM) and 80% of NOX emissions from the entire
road transport sector, despite making up only 23% of the vehicle
fleet. Hong Kong emissions standards, which are based on European
standards, have been updated to meet the goal of 55% major
pollutant level reduction by the end of 2010.
Lincoln Parke, President and Chief Executive Officer, said, "We
are delighted to receive the LOI. The success of our European field
trial has resulted in this LOI and, potentially, subsequent
purchase order. We are very excited to be embarking on our
commercial phase."
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. Please visit our
website: www.greenchektech.com.
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.
For Further Information Contact: Daniel Conway DC
Consulting, LLC (407) 792-3332 investorinfo@dcconsultingllc.com
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