Patriot Energy Begins Testing With Major Foreign Automaker Ahead of Schedule
March 17 2009 - 9:01AM
Marketwired
Patriot Energy Corp. (PINKSHEETS: PGYC) announces today that it has
begun the testing and retrofit of the H2O Oxygenator with a foreign
automaker a month ahead of schedule.
According to the company, Patriot Energy Corp. recently began
talks with a major foreign automaker to make its H2O Oxygenator
System a standard feature on all their vehicles and have now
completed the retrofit to begin testing the unit. The company
believes the test results will not vary much from the results
already obtained by the third party laboratories that have
evaluated the technology thus far. Once the beta period over, the
units could be installed on as many as 1 million vehicles per year
for the next 5 years, which is expected to yield over $500 million
a year in unit sales and $90 million in Carbon Credit trading. In
addition to the testing, the automaker has shown an interest in
participating in the ownership of the company.
"We knew the retrofit was not a big challenge since we have
installed our unit on many different models in the past and the
engineers completed the retrofit easily and without any issues,"
said Tony Bisante, President and CEO of Patriot Energy. "Given the
great results so far, we hope to entice another large automaker to
begin testing of their own," further added Mr. Bisante.
About Patriot Energy Corp.
Patriot Energy Corp. is a management holding corporation, which
owns a wholly owned subsidiary named Telteck Solutions and owns a
99 year exclusive leased license agreement with Tectane
Technologies Corporation for the Dual H2O Engine Oxygenator and New
Tri-Brid Engine (Electric/Flex-Fuels/H2O) Technologies. Patriot
Energy specializes in the development and marketing of energy
efficient technologies with a focus on reducing America's
dependence on Foreign Oil.
Total Shares Outstanding (fully diluted): 193,500,000
www.patriotenergycorporation.com
All statements in this news release that are other than
statements of historical facts are forward-looking statements,
which contain our current expectations about our future results.
Forward-looking statements involve numerous risks and
uncertainties. We have attempted to identify any forward-looking
statements by using words such as "anticipates," "believes,"
"could," "expects," "intends," "may," "should" and other similar
expressions. Although we believe that the expectations reflected in
all of our forward-looking statements are reasonable, we can give
no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause
those results to differ materially from those indicated in any
forward-looking statements made by us or on our behalf. Such
factors include our limited operating history; our need for
significant capital to finance internal growth as well as strategic
acquisitions; our ability to attract and retain key employees and
strategic partners; our ability to achieve and maintain
profitability; fluctuations in the trading price and volume of our
stock; competition from other providers of similar products and
services; and other unanticipated future events and conditions.
Contacts: Momentum IR Max Gagne 514-913-0351 877-253-7001
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