Cemtrex to Develop Carbon Credit Projects with Truck Fleets in US
FARMINGDALE, N.Y., Sept. 10 /PRNewswire-FirstCall/ -- Cemtrex, Inc. (OTC: CTEI) announced that it has signed an agreement with Lenegar Group to develop a series of carbon credits projects based on vehicle emission reduction technology from Lenegar Group.
Cemtrex will assist Lenegar's customers in creating and monetizing carbon credits based on Lenegar's technology for improving the combustion of hydrocarbon fuels in vehicles. The proprietary technology provided by Lenegar reduces up to 30% of carbon dioxide emissions from trucks. Customers who will benefit from this technology are companies with large fleets of heavy-duty trucks.
"Just with the completion of the current projects in hand, we will have our technology installed on more than 20,000 vehicles by the end of 2009. With the credits developed by Cemtrex our customers will be able to monetize the emission reductions achieved by this retrofit. Cemtrex-developed projects will generate an average of 58 credits per vehicle," says Marc Lenegar, President of Lenegar Group.
"Cemtrex is very excited to work with Lenegar and develop these projects for reduction of carbon emissions. With more than 500,000 interstate trucking companies and two million tractor-trailers registered in the United States we see a tremendous opportunity for growth. Additionally, upcoming cap and trade legislation will further incentivize similar carbon emission reduction measures," said Arun Govil, CEO & President of Cemtrex.
Cemtrex, Inc. is a worldwide market leader in manufacturing and selling the most advanced instruments for emission monitoring of particulate, opacity, mercury, sulfur dioxide, nitrogen oxides, etc. and filtration products for the industry. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, through optimizing HVAC control systems. Cemtrex provides technologies and services for abatement of greenhouse gases pursuant to the Kyoto Protocol and assists customers in creating and selling carbon credits from such projects. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Safe Harbor Statement
This press release contains forward-looking statements. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date.
Contact Information: Arun Govil Cemtrex, Inc. http://www.cemtrex.com T: 631-816-1400 firstname.lastname@example.org
SOURCE Cemtrex, Inc.