COLUMBIA, S.C., Nov. 24, 2014 /PRNewswire/ -- NuState Energy
Holdings, Inc. (OTC-PINK:NSEH) announced today, it has signed a
definitive agreement with The Ronn Motor Group, with offices in
Dalian, China and the United States, to license and market
NuState's IP software, GPSTrax©, for use by Ronn Motor
Group's partners in China and
other international markets.
Completion of the exclusive license and marketing agreements was
announced by NuState CEO Kevin
Yates, who is focused on expanding international contracts
for the company's IP software, with particular emphasis on the
alternative and emerging fuel applications.
"We're excited to be partnering with The Ronn Motor Group, which
is pushing into global markets where alternative fuel opportunities
are important to the country," said Yates. "Revenue for
GPSTrax© will begin with the first installations in
several countries in the first quarter of 2015. We are now
expecting these revenues for the company to grow from an initial
$300,000.00 - $500,000.00 in the
first 2 quarters of 2015 to $3,000,000.00 -
$4,000,000.00 by the end of 2015. Over the next 2-3 years we
project revenue to grow a 30-40% annually providing revenues of
$10,000,000.00 - $12,000,000.00 by
year 3.
According to Ronn Motor Group CEO Ronn
Maxwell, the company is targeting the commercial and
original equipment fleet vehicle markets in China, India
and Europe providing validation,
testing and data for government financial incentives in relation to
alternative fuel and power technologies, utilizing the capabilities
provided by NuState's GPSTrax©. "GPSTrax©
is an important tool for validating, testing and logging results
for any new alternative fuel or power technology, whether
automotive, trucking or stationary platforms," said Maxwell.
About NuState
NuState Energy Holdings, Inc. is a technology company
specializing in providing pertinent, real-time information to the
worldwide transportation and security industries. NuState's
proprietary software, GPSTrax©, is built on an Open
Architecture platform for the logistics and telematics
industries.
For more information about NuState, email info@nsehinc.com or
call (803) 748-1309. NuState is located at 1201 Main Street, Suite
1980, Columbia, S.C. 29201
You can learn more about GPSTrax© software by
visiting our website at www.nsehinc.com
About The Ronn Motor Group
The Ronn Motor Group is a privately held automotive development
company with offices in the United
States and China. It is working with various
commercial and government entities in the development of new
automotive platforms, including systems to track and validate
emission reductions and alternative fuels. For more
information about The Ronn Motor Group, email
info@ronnmotorgroup.com.
Safe-Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This press release may contain forward-looking
information within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended (the Exchange Act), including all
statements that are not statements of historical fact regarding the
intent, belief or current expectations of the company, its
directors or its officers with respect to, among other things: (i)
the company's financing plans; (ii) trends affecting the company's
financial condition or results of operations; (iii) the company's
growth strategy and operating strategy; and (iv) the declaration
and payment of dividends. The words "may," "would," "will,"
"expect," "estimate," "anticipate," "believe," "intend" and similar
expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond the
company's ability to control, and that actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors including the risk disclosed in the
company's Forms 10-K and 10-Q filed with the SEC.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/nustate-announces-worldwide-agreement-for-utilization-of-gpstrax-telematics-and-tracking-software-in-the-alternative-fuel-markets-300000303.html
SOURCE NuState Energy Holdings, Inc.