M-Fuel Could Save the City of Chicago $40M a Year Says EcoloCap CEO
May 26 2011 - 4:44PM
Business Wire
In an interview with Capital Situation, Michael Siegel, CEO of
EcoloCap Solutions of Chicago, (www.ecolocap.com), stated that
numerous independent tests have proven the company’s M-Fuel
technology to reduce consumption of diesel fuel up to 30% while
reducing emissions by over 70%, without any modifications to diesel
engines of buses and trucks.
Invented using nanotechnology, M-Fuel is an emulsion of diesel
fuel, water and a proprietary additive, developed by EcoloCap’s
Korean team over the last few years. The Company is presently
marketing the technology worldwide, having orders and memorandum of
understanding with, governments, transportation and utility
companies in over ten countries.
Siegel stated: “Taking an example in our own backyard, the
skyrocketing price of diesel fuel will cost Chicago and Chicago's
transit agencies tens of millions of dollars more than anticipated
this year, jeopardizing some proposed new services. With fuel costs
rising and state funds scarce, the region's mass transit agencies
face a budget season full of tough decisions that could create a
bumpy ride for passengers. The City of Chicago, along with Pace,
the CTA, and Metra spend an estimated $200M in diesel fuel each
year. The use of EcoloCap’s M-Fuel would save a minimum of 20% or
some $40M annually, and that’s using the most conservative of our
projections.”
Siegel added: “Another factor is that under the 2003 Clean Air
Act, emulsified diesel fuels with a minimum 12.5% water make users
eligible for an additional $0.197 IRS Tax Credit. As a result, end
users could save up to $1.00 a gallon on the cost of diesel fuel at
today’s prices.”
“School busses are one of the most notorious emitters of
pollution with a negative impact on health, but federal budget
deficits have forced the demise of the “Clean Diesel School
Buses Program” that was supposed to combat this problem.
M-Fuel will not only reduce emissions to within acceptable limits,
but reduce the cost of fuel, all without any capital expenditure on
the part the school districts.”
At the Chicago Transit Authority, officials said preliminary
figures indicate they would have to grapple with another budget
shortfall next year. Talk of fare increases and possible service
cuts could be back on the table, just months after a state bailout
enabled them to avert imposing those measures this year.
EcoloCap Solutions Inc. is listed on the Bulletin Board symbol:
ECOS