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|Subject: Re: GCHK positive divergence off .62 support||Date: 11/13/2008 6:39 AM|
|Author: TechnicalStocks||Number: 62 of 66|
GCHK News Thursday, November 13 2008 6:00 AM, EST
GreenChek Signs Strategic European Distribution Agreement
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, reported today that they have signed a strategic European distribution agreement with Technical Environmental Solutions Europe Ltd. (TESEL). TESEL is a world-class and world-renowned distribution Company focused in Europe . The November 4, 2008 , announcement of the Letter of Intent has been finalized by both parties.
GreenChek manufactures an emission reducing device simply known as the ERD 1.0, which can be retrofitted to any vehicle or combustible engine regardless of fuel source. This device reduces vehicle emissions as well as increases fuel economy.
GreenChek's Chief Strategy Officer, Donald Walling, stated, "We are very pleased to have signed this agreement with TESEL. Our proven ERD addresses the specific needs of multiple verticals in the European transportation industry. The agreement with TESEL marks a major milestone on route to our plan for aggressive global distribution of the ERD unit." Walling added, "Our partnership with TESEL gives us the knowledge and ability to address and navigate complex European Government and intricate European transportation industry needs."
GreenChek Technology Inc. ([url=http://www.greenchektech.com]GreenChek Technology Inc.[/url]) 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 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 .
Source: GreenChek Technology Inc.
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