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GreenChek Poised to Expand into the Chinese Market

Fri. June 05, 2009; Posted: 04:59 PM
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SAN FRANCISCO, Jun 05, 2009 (BUSINESS WIRE) -- GCHK | Quote | Chart | News | PowerRating -- GreenChek Technologies Inc., a leading globally focused provider of hydrogen fuel cell technology for commercial transportation and stationary power generation applications, is pleased to announce that the company has entered into a verbal agreement with Tianjin Kerlong management corporation, whereby, Tianjin Kerlong has secured a first right of refusal to purchase and distribute GreenChek's ERD 2.0 product in Hebei Province.

The verbal Memorandum of Understanding ("MOU") with the vendor hereby secures Tianjin Kerlong the option for distributing the product in the Hebei Province and allows GreenChek to slowly expand into the Asian Market. Following GreenChek's ongoing due diligence assessment of Tianjin Kerlong, it is anticipated that a formal distribution agreement can be executed by both parties within approximately two to three weeks.

"GreenChek is excited to have this opportunity to leverage its hydrogen fuel cell technology in China's transportation industry," said Lincoln Parke, President and Chief Executive Officer. "The global market demands that we develop and utilize innovative technology to advance the development of zero-emissions in the transportation industry, a technology that is both environmentally friendly and fuel efficient. GreenChek's technology delivers significant reductions in greenhouse gas emissions and improves overall air quality. We are poised to become a leader in this industry and we look forward to a very productive relationship with Tianjin Kerlong."

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(TM), 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. GreenChek has operations in the United States, Canada, Asia and Europe.

Safe Harbor Statements

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 Technologies Inc.

Windfall Communications, LLC 
Trevor Justus, 866-590-6589
For full details for GCHK click here.

    


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