GreenCell confirms Initial Order for HydroCell Max™ and Announce today that it intends to file a prospectus with the German Securities and Investment Commission (Bafin)
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GreenCell confirms Initial Order for HydroCell Max™ and Announce today that it intends to file a prospectus with the German Securities and Investment Commission (Bafin)
Aurora, Ontario Jun 08, 2011 – GreenCell Technologies Inc. (Frankfurt Open Market: GT5), announce today that it intends to file a prospectus with the German Securities and Investment Commission (Bafin). Subject to final regulatory approval, including the approval of the German Stock Exchange, the Company will meet the new requirements of the General Terms and Conditions of Deutsche Börse AG as announced and mandated on 14.02.2011 for listing and trading for the Regulated Unofficial Market on the Frankfurt Exchange.
Aurora, Ontario Jun 08, 2011 – GreenCell Technologies Inc. (Frankfurt Open Market: GT5) announced today that it has updated a purchase order issued to Hy-Drive Technologies in April 2011 for approximately $250,000. The order follows an agreement with Hy-Drive Technologies Inc. (TSX Venture Exchange: HGS) of Mississauga, Ontario finalized January 2011. GreenCell is the exclusive distributor of the renowned HGS series of hydrogen gas generators for the diesel truck market in Canada and the USA with options for other parts of the world.
The order was for a combination of Hydrogen generators that have been installed on various trucks (25) for up to one year plus 8 units for stock in Greencell’s Aurora, Ontario facility. As the Greencell Sales team contacts the various trucking companies who had had these ‘trial ‘ units on a loan basis to convert them to the new ‘Monthly Fee for Use” deployment, monthly revenue to Greencell will start in May as a result. A portion of this monthly fee will go to Hy-Drive as partial payment on the $250K purchase order.
“This product order,” states GreenCell’s President K. Allen Etherington, “is the first formal commitment by Greencell to buy and resell the HydroCell Max™ generators. It confirms the market study and customer survey, Greencell has been conducting over the past 3 months. With the “Monthly Fee for Use” sales program confirmed as acceptable by transport companies, Greencell is now ready to launch sales activities at a full throttle pace.”
The HydroCell™ Max is an electrolysis-based on-demand Hydrogen generator designed specifically for the transport industry. The HydroCell™ Max directs the produced Hydrogen gas to the intake of the vehicles engine where it acts as a catalyst during the normal combustion cycle. This creates more power and fewer emissions with less diesel fuel.
GreenCell Technologies Inc. is a Canadian company, dedicated to designing and bringing to market technology-based products for the transportation and energy industries.
CONTACT: K. Allen Etherington, GreenCell Technologies Inc. kim(at)greencelltek.com or Investor Relations investors(at)greencelltek.com
7-21 Industry Street - Aurora - Ontario - L4G 1X6 - CANADA
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Greencell Technologies Inc.
7-21 Industry Street
Aurora, Ontario L4G 1X6
Canada
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Datum: 08.06.2011 - 09:37 Uhr
Sprache: Deutsch
News-ID 30433
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