GreenChek Expands Manufacturing to China
09 März 2009 - 9:31PM
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.
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