GreenChek Delivers Fuel Savings With ERD(TM)-3.0
June 10 2010 - 8:45AM
Marketwired
GreenChek Technology Inc. (OTCBB: GCHK) is pleased to announce that
its ERD™-3.0, a greenhouse gas emissions reduction and fuel economy
enhancement product, has demonstrated fuel efficiency savings of
9-11% on heavy duty vehicles in France.
Tests of the proprietary ERD™-3.0 units over a two year period
have shown 9.3% to 11.5% in fuel savings and a quick return on
investment. Third party verified field trials in France were
completed last week. Based on current European fuel prices and
120,000 miles driven per annum, with 2,400 miles driven per tank of
fuel, return on investment on the ERD™-3.0 equates to less than
seven months. Because of the technology's scalability and
versatility, future versions will be readily adaptable to different
engine types, enabling the Company to address sales opportunities
in a variety of industry vertical markets.
According to the European Commission (2008), there have been
significant improvements over recent years in emissions
technologies, resulting in better fuel efficiency and lower CO2
emissions -- but these have not been enough to neutralize the
effect of increases in traffic, distance and vehicle size. The
European Union's strategy aims to achieve a target of 120g CO2/km
by 2012 for passenger vehicles. In the U.S. there are fuel
consumption standards for passenger vehicles but no such regulation
for medium and heavy duty vehicles. In response to legislation
passed in Congress in 2008, the U.S. Department of Transportation
is required to establish fuel economy standards for these vehicles
for the first time in history in the very near future.
Lincoln Parke, President and Chief Executive Officer, stated,
"The ERD™-3.0 is a smart solution to save on transportation
companies' fuel costs. We are thrilled to have been able to achieve
this spectacular result, one that bodes well for the pipeline of
new customers throughout Europe that have expressed interest in
using the ERD™-3.0. This product is our solution for consumers to
save money while at the same time helping the environment."
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
Greenchek Technology (CE) (USOTC:GCHK)
Historical Stock Chart
From Jan 2025 to Feb 2025
Greenchek Technology (CE) (USOTC:GCHK)
Historical Stock Chart
From Feb 2024 to Feb 2025