Green Star to Demonstrate Plug-In Hybrid Electric Vehicle
29 April 2009 - 3:40PM
Business Wire
Green Star Products, Inc. (OTC: GSPI) announced today that
within the next four weeks it plans to publicly test its plug-in
hybrid electric vehicle (PHEV).
The demonstration will take place in Corbin, Kentucky, where the
vehicle will be test driven and evaluated by industry
representatives. The plug-in hybrid electric vehicle will be driven
on a simulated city driving test route. The company expects to
demonstrate that during an eight hour delivery day simulation this
plug-in hybrid vehicle can exceed 150 miles while exhibiting an
efficiency of over 75 mpg (miles per gallon).
Earlier this month, Green Star Products along with its
International Consortium partner Global Green Cars had publicly
tested its full electric vehicle version at tracks in Utah and
Kentucky. Global Green Cars is a U.S. and International Consortium
of automobile companies and associated supply companies which
includes Green Star Products as an engineering and technology
provider.
The previous successful public demonstrations incorporated test
drives for a variety of people including legislators, government
officials, race car drivers and other interested parties. Please
see press release �Successful GSPI Electric Car Demonstration
Covered by Media� (http://www.greenstarusa.com/news/09-04-09.html)
dated April 9, 2009, and �Green Star Kentucky Electric Car
Demonstration Covered by News Media�
(http://www.greenstarusa.com/news/09-04-16b.html) dated April 16,
2009, for media coverage of the demonstration events.
Mr. Joseph LaStella, President of Green Star Products, stated,
�This demonstration is the next in a series of public
demonstrations on advanced electric powered and hybrid powered
vehicles that the company intends to offer to the public in the
near future in the $25,000 price range.�
President Barack Obama's New Energy For America program calls
for deployment of 1 million plug-in hybrid vehicles by 2015, and on
March 19, 2009, he announced programs directing $2.4 billion to
electric vehicle development.
About Plug-In Hybrids
The general public does not realize that the hybrid vehicles
produced by the major auto companies today are not plug-in hybrid
electric vehicles (PHEVs). Today's hybrids have small battery packs
and cannot be recharged from the utility grid system. Therefore,
they have extremely limited range on their small battery packs and
are usually only used at very low speeds (below 15 mph). Presently
there are no plug-in electric hybrid vehicles offered by any major
car company in the U.S.
The advantages of a PHEV with a larger battery pack with ranges
up to 40 miles or more is that it gives you the ability to recharge
this battery pack from the electric utility company at night,
utilizing inexpensive clean electrical energy which is abundantly
available during night time hours.
Additional advantages of PHEVs are as follows:
- Reduces the use of foreign oil
since the electricity in the United States is primarily produced by
domestic non-oil resources (97% by natural gas, hydro, coal,
nuclear and other alternative energy sources).
- Night time electric power is
available from many renewable resources therefore reducing
greenhouse gas (GHG) emissions. Many utility companies, including
PG&E (NYSE: PCG), are offering incentives for PHEVs to utilize
inexpensive night time energy.
- Utilizing domestically produced
energy also helps the U.S. balance of payment deficit from oil
producing nations and promotes U.S. energy independence.
- The U.S. Department of
Transportation (DOT) has estimated that 85% of the vehicles in the
United States drive less than 30 miles per day. If these were
plug-in electric hybrid vehicles they would not utilize any
petroleum fuels at all for these short trips.
There are more than twenty international environmental
organizations supporting PHEV including World Wide Fund for Nature,
National Wildlife Federation, Friends of the Earth, Alliance for
Climate Protection, Set America Free Coalition and the Rainforest
Action Network.
Green Star Products is targeting to replace in-city delivery
trucks which are the highest polluting vehicles in use today. These
delivery vehicles are in-city, slow moving, stop-and-go vehicles
which do not travel more than 35 miles per day and pollute more
than any other vehicle on a per mile basis.
Green Star Products is not in competition with Toyota or any
other major automobile manufacturer because it is targeting a
different market. Toyota is presently planning to modify its Prius
model to be a plug-in hybrid in the near future.
GSPI Historical Note
On a press release previously issued dated April 13, 2009
(�Green Star Products Announces Kentucky Electric Car Demonstration
for Legislators and Media,�
http://www.greenstarusa.com/news/09-04-13.html), Mr. LaStella had
stated that Green Star had built and demonstrated the first
production electric truck to ever successfully climb Pikes Peak.
The Pikes Peak hill climb is known to be the most difficult vehicle
climb in the world. The 12.4 mile mountain road rises almost a mile
vertically while traversing 156 switchback turns with no
guardrails. Mr. LaStella received many phone calls doubting that
the statement was true. The successful test drive of the Ford
Ranger (NYSE: F) electric truck was accomplished in June of 1993
and was driven by Bob Martino who was then Vice President of Green
Star and was filmed by Channel 11 News. The cameraman rode in the
bed of the truck while filming the historic hill climb while the
reporter rode up front with Mr. Martino. It also should be noted
that Pikes Peak was one of General Motors (NYSE: GM) testing ground
programs which used the downgrade road of the mountain to do the
break testing of its own vehicles. The film clip from Channel 11 is
available at GreenStarUSA.com and
http://www.youtube.com/watch?v=aqkU7TglHDo
Green Star Products, Inc. (OTC: GSPI) is an environmentally
friendly company dedicated to creating innovative cost-effective
products to improve the quality of life and clean up the
environment. Green Star Products and its Consortium are involved in
the production of green sustainable goods including renewable
resources like algae biodiesel and clean-burning biofuels,
cellulosic ethanol and other products, as well as lubricants,
additives and devices that reduce emissions and improve fuel
economy in vehicles, machinery and power plants. For more
information, see Green Star Products' Web site at
http://www.GreenStarUSA.com, or call Public Relations at
1-800-741-7648 and 1-800-340-9784, or fax 619-789-4743, or email
info@GreenStarUSA.com. Information about trading prices and volume
can be obtained at several Internet sites, including
http://www.pinksheets.com, http://www.bloomberg.com and
http://www.bigcharts.com under the ticker symbol "GSPI".
Forward-looking statements in the release are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties,
including without limitation, continued acceptance of the company's
products, increased levels of competition for the company, new
products and technological changes, the company's dependence on
third-party suppliers, and other risks detailed from time to time
in the company's periodic filings with the Securities and Exchange
Commission.
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