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GreenChek Expands Manufacturing to China

Dépèche transmise le 9 mars 2009 par Business Wire

SAN FRANCISCO--(BUSINESS WIRE)--GreenChek Technologies Inc. (OTCBB:GCHK), a leading globally focused provider of hydrogen fuel cell technology for commercial transportation and stationary power generation applications, is pleased to announce that Tianjin Sherma in Tianjin, China, has committed a 4,000 square foot facility in Tianjin, China, for the manufacture of GreenChek’s ERD technology. Management anticipates that the new state-of-the art manufacturing plant will be operational in eight weeks.

Management and its engineering team have determined the production capacity for the facility to be 1050 units per production line per month. At current prices, this translates into roughly $50.4 million dollars in annual revenue per production line, at full capacity.

This step in the strategic plan is designed to move GreenChek rapidly towards becoming a dominant player in emission reduction technology. GreenChek is confident that given its projected sales forecast and marketing initiative in North America, combined with its growing network in Europe, that it is uniquely positioned to benefit from the extraordinary combination of historic and steadily increasing traditional energy costs and the global demand to drastically reduce emissions.

GreenChek’s President Lincoln Parke noted, “The manufacturing facility in Tianjin, China will enable our company to address the growing demand for emission reduction devices in multiple markets. The new US EPA standards indicate that there is an increasing demand for these devices. The manufacturing facility further illustrates that GreenChek is well positioned at the forefront of this new green economy.”

About GreenChek

GreenChek Technology Inc. (www.greenchektech.com) 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.