Monday, September 29 2008 7:00 AM, EST
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GreenChek Signs LOI With Technical Environmental Solutions Europe
Business Wire "US Press Releases "
SAN FRANCISCO--(BUSINESS WIRE)--
GreenChek Technology Inc. (OTCBB:GCHK), a leading globally focused
provider of hydrogen based technology for mobile transportation and
stationary power generation applications, announced today that after
months of a thorough selection process and collaborative negotiations
they have signed a Letter of Intent (LOI) to form a Strategic Alliance
with a world-class distributor, Technical Environmental Solutions
Europe Ltd. GreenChek manufactures an emission reducing device simply
known as the ERD(TM) 1.0, which can be retrofitted to any vehicle
regardless of fuel source.
"We couldn't be more thrilled with this alliance," announced
Lincoln Parke, GreenChek's President and Chief Executive Officer.
"Partnering with TESEL allows us to move forward and execute quickly
on our strategic plan which calls for rapid implementation in key
European territories and vertical markets."
About GreenChek
GreenChek Technology Inc. (
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 which is primarily focused on mobile transportation
applications, as well as stationary power generation applications.
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. GreenChek has operations in
the United States, Canada, Asia and Europe.
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 GreenCheks'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.
Source: GreenChek Technology Inc.