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GreenChek Distribution Update

Dépèche transmise le 13 avril 2009 par Business Wire

SAN FRANCISCO--(BUSINESS WIRE)--GreenChek Technology Inc. (OTCBB:GCHK), a leading globally focused provider of hydrogen fuel cell technology, is pleased to report that the previously announced Internet marketing campaign designed to develop a North American distribution partner network has had a tremendous response. To date we have received applications from 93 distributors and are currently in the process of qualifying the candidates per region. Our initial goal was to establish 30 regional distribution partners in 2010, growing by 30 distributors annually to 90 regional distribution partners by the end of 2012. The estimated potential gross revenue from this project for 2010-2012 is $76.8 million. We believe we are well on our way to building a strong network of distributors in North America and look forward to having the majority of the regions qualified and up and running in the second quarter of 2010.

GreenChek continues to execute European distribution arrangements with TESEL and is experiencing increasing interest in further implementations. GreenChek is on track to meet our major milestones with respect to ERD distribution within the UK. As previously announced, we expect to begin installing ERD units for Heavy Goods Vehicles in the United Kingdom in the second quarter for our European distributor TESEL. The current install base can potentially add $8.8 million Euros to GreenChek gross revenues over the next 4 years.

“We are very pleased with the North American and European market development for the ERD and expect to see continued installations and interest in the coming quarters,” stated Lincoln Parke, President of GreenChek. “The interest in our ERD 2.0 has been overwhelming in the truck transportation sector.”

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™, 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 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.