Save On Energy, Inc. Acquires Alternative Fuel Technology Center.Business Editors & Energy Writers ATLANTA--(BUSINESS WIRE)--Jan. 3, 2002 Save On Energy, Inc. (OTC:SOEI) announced today that it has completed the acquisition of an Alternate Fuel Technology Center located in Endicott, New York Endicott is a village in Broome County, New York, United States. The population was 13,038 at the 2000 census. The village is named after Henry B. Endicott, a founding member of the Endicott Johnson Corporation shoe manufacturing company, who founded the community as the "'Home of . The Technology Center has been involved in the development of alternative fueled vehicles and compressed natural gas Compressed Natural Gas (CNG) is a substitute for gasoline (petrol) or diesel fuel. It is considered to be an environmentally "clean" alternative to those fuels. It is made by compressing natural gas (which is mainly composed by methane (CH4 refueling infrastructure for the past 10 years. The New York based Technology Center has been responsible for the development of natural gas vehicle programs for utility companies and other customers throughout New York, Connecticut and Georgia. Past customers include projects with United Parcel Service United Parcel Service, Inc. (NYSE: UPS), commonly referred to as UPS, is the world's largest package delivery company, delivering more than 15 million packages[1] a day to 6.1 million customers in over 200 countries and territories around the world. (UPS) (NYSE NYSE See: New York Stock Exchange :UPS), Binghamton University, Broome County Transit “B.C. Transit” redirects here. For the transit agency in British Columbia, see BC Transit. Broome County Transit,popularly branded as B.C. Transit, is the public transportation system serving Broome County, New York, namely the city of Binghamton and , New York State Department of Transportation, National Pipe and Plastic, Connecticut Natural Gas, and Ft. Gillem located in Georgia. The Technology Center has collaborated with a number of companies through research and development programs that involve hybrid vehicle development. These companies include: Lockheed Martin (NYSE:LMT), located in Johnson City, New York Johnson City is a village in Broome County, New York, United States. The population was 15,535 at the 2000 census. The Village of Johnson City was established in the Town of Union, New York and is a part of the "Triple Cities" along with Endicott, New York and ; the New Jersey Department of Transportation The New Jersey Department of Transportation (NJDOT) maintains the State Highway system in New Jersey. It is headed by the Commissioner of Transportation. The present Commissioner is Kris Kolluri, Esq, who was sworn into office as Commissioner on March 13, 2006. ; and Rhode Island-based TPI Corporation. "The acquisition of the Endicott facility will not only enable us to enhance our current product offering but allow us to expand our base of operations Noun 1. base of operations - installation from which a military force initiates operations; "the attack wiped out our forward bases" base air base, air station - a base for military aircraft army base - a large base of operations for an army into the Northeast," said Robert Stiles, President and Chairman of Save On Energy, Inc. The sale of the Technology Center to the Save On Energy organization will ensure the continued development of alternate fuel programs in New York State," he said. The assets of the Alternative Fuel Technology Center were acquired by Alternative Energy Technologies, Inc.; a wholly-owned subsidiary of Save On Energy, Inc. Alternative Energy Technologies, Inc. will employ seven people and continue to operate at its Endicott, New York location. About Save On Energy, Inc. Save On Energy, Inc. is an emerging alternate fuel technology company whose international focus is to reduce diesel engine exhaust emissions and diesel fuel consumption. In the United States, this supports the U.S. Energy Policy Act regarding energy security and the U.S. Clean Air Act by obtaining significant air quality improvements compared to diesel exhaust emissions. Through its Electronic Fuel Control (EFC) division, the company has developed, patented and commercialized electronic engine management systems that enable diesel engines to operate using natural gas without engine modifications. Save On Energy, Inc. is headquartered in Atlanta, Georgia and trades on the OTC as SOEI. Web site: http://www.electronicfuelcontrol.com The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission. |
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