SaviCorp® Announces Major Exclusive International Distribution
Agreement with DynoGreen Tech, LLC to Sell DynoValve® in India,
Dubai, the UAE and Other Foreign Countries
SANTA ANA, Calif., May 23, 2013 /PRNewswire/
-- SaviCorp® (OTCPK: SVMI)
Serge Monros, Founder, Chief Executive Officer/Chief Technology
Officer, SaviCorp and Victor Chu,
President, SaviCorp have announced this morning a new five-year
exclusive international marketing and distribution agreement with
San Diego, California based
DynoGreen Tech, LLC, giving SaviCorp and the DynoValve its largest
distribution arrangement to date.
"The long-term exclusive distribution agreement will create
incredible sales opportunities by exposing the DynoValve to
international fleet operations and individual consumers worldwide,"
said Serge Monros. "We will be dispatching a team of
installers and training technicians, who will travel to
Dubai in the next several weeks to
begin our program," Monros continued.
Saheed Palkkandy Kottoth, Chairman/CEO of DynoGreen Tech, and
SaviCorp signed this historic major distribution and partnership
agreement on Saturday, May 18th. "We
are thrilled at the opportunity to bring this incredible product to
an international market that includes Dubai, the UAE, and India along with a number of other foreign
countries," said Palkkandy Kottoth. "This is the kind of
product that we have been waiting for. In India, and the Middle East, where exhaust emissions pose such
a terrible threat to people's health and the environment, we
believe we can help each country significantly improve air quality
in urban areas significantly and also increase automotive
performance by introducing the DynoValve," Palkkandy Kottoth
continued.
The exclusive distribution agreement includes an immediate
initial purchase of 2,000 DynoValve units, which will be
distributed among the 2,000 foreign distributor locations.
Additional inventories will be ordered after completion of training
and certification. The partnership guarantees SaviCorp
minimum sales of 500 units per quarter throughout the five-year
term. The initial rollout will begin with installations in
India, the UAE, and Dubai, including the Dubai government-owned taxi service.
"As unit sales increase, our ability to deliver the DynoValve in
a more cost-effective way will also increase. The fact that
Saheed and his team have already spent many years and millions of
dollars developing their marketplace suggests that their
projections of future sales may be somewhat conservative.
This agreement has potentially put SaviCorp on track to
multi-million dollar revenues," said Chu. "This deal, coupled
with our promising new U.S. sales efforts and the anticipated
closing of several other distribution agreements over the course of
this year, will create a strong foundation for continued growth of
SaviCorp for its shareholders," Chu added.
"Today SaviCorp has made significant strides at becoming a
worldwide player in the effort to reduce emissions internationally
and address the issue of high gas prices for fleet operators and
consumers," said Serge Monros. He added, "After many years of
extremely hard work, our forecast is stronger because of our
exclusive distribution agreement with DynoGreen Tech, which earlier
this year had taken a significant investment position in
SaviCorp."
About SaviCorp®
SaviCorp® (savicorp.com) is an innovative automotive
technology company that licenses, manufactures, distributes and
services an array of patented technologies and products that reduce
harmful emissions and improve fuel efficiency. The Company,
an evolution of more than twenty years of automotive engine
emissions testing, materials research and development, was formed
to create, support and license our patented supplementary vehicle
Emissions Reduction Technologies (ERT) to reduce emissions and
improve efficiency. Using proprietary methods and processes, the
Company's flagship DynoValve® system protects the
environment, lessens an engine's carbon offsets, increases gas
mileage, and improves engine performance resulting in dramatic
savings in both fuel and oil.
About DynoGreen Tech
DynoGreen Tech, LLC, is newly established subsidiary of
Prime Express Group of Companies, an international conglomerate of
companies which has over 1,800 employees worldwide, including
ownership positions in the courier, travel, and hospitality
businesses. Prime Express and Dubai-based advertising company, Social
Maestro Consulting, are owned by Makati Express Cargo, LLC, a
provider of international air and sea freight services. The
company markets and distributes products and services to customers
in the Middle East, Central Asia, India, and the Pacific Rim.
Forward-Looking Statement Disclosure
Statements contained herein that are not historical facts may be
forward-looking statements within the meaning of the Securities Act
of 1933, as amended. Although we believe that the
expectations and assumptions upon which they are based are
reasonable, we can give no assurance that such expectations and
assumptions will prove to have been correct. Some of these
uncertainties include, without limitation, the company's ability to
perform under existing contracts, to procure future contracts, to
acquire certain assets, or to finalize funding for the purchase of
certain assets. The reader is cautioned not to put undue
reliance on these forward-looking statements, as these statements
are subject to numerous factors and uncertainties, including
without limitation, successful implementation of our business
strategy and competition, any of which may cause actual results to
differ materially from those described in the statements. We
undertake no obligation and do not intend to update, revise or
otherwise publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of any unanticipated events.
Although we believe that our expectations are based on reasonable
assumptions, we can give no assurance that our expectations will
materialize. Many factors could cause actual results to
differ materially from our forward-looking statements.
Contact:
SaviCorp®
(877) 611-7284
(714) 312-5352
DynoGreen Tech
Saheed Kottoth
8155 Mira Mesa Blvd., Suite 8
San Diego, CA 92126
(877) 621-9999
SOURCE SaviCorp