FARMINGDALE, N.Y., Oct. 30, 2012 /PRNewswire/ -- Cemtrex, Inc. (OTC: CTEI), a leader in emissions monitoring & environmental control systems, today announced that it has acquired a stake in mobile startup Pluto Technologies Inc.
"Since becoming the CEO, one of my focuses has been to diversify into new growth areas and shift away from regulatory-driven businesses that have not yielded the desired results for Cemtrex in the past," said Mr. Saagar Govil, "thus we recently entered into petroleum and natural gas process optimization systems and now into mobile applications."
This investment for Cemtrex (www.cemtrex.com) follows a steady stream of events as the company continues to diversify its area of business activities. Pluto Technologies Inc. (www.discoverpluto.com) has developed a pioneering mobile application called Pluto that is currently in a limited Beta release in New York City. The Pluto app allows users to find special and exclusive promotions, events, deals, savings, sales and other offers from businesses and merchants within their immediate vicinity specific to each user's unique interests and tastes. By introducing users to establishments and events that are relevant to their own specific interests, Pluto increases revenue for merchants and brings to them the consumers that are actually interested in what they have to offer.
"We are very excited about our investment in Pluto, since it offers a great opportunity for small and medium-sized businesses to reach consumers specifically through their mobile devices," said Mr. Saagar Govil, CEO of Cemtrex. "Pluto can enable these businesses to reach qualified consumers based on their unique interests, lifestyle, and geo-location. The market potential for Pluto is enormous as consumers are both searching and buying more and more through their mobile device. The way merchants engage and market to their existing and new customers has to evolve and Pluto aims to do just that," he continued.
Pluto is planning to release the app publicly in December.
Cemtrex, Inc. is a worldwide market leader in manufacturing and selling the most advanced instruments for emission monitoring and equipment for environmental control and filtration systems for the industry. Cemtrex also markets Green DCV, an innovative energy efficiency solution for high-quality green building applications, and technologies for abatement of greenhouse gases pursuant to Kyoto protocol. The Company's products are sold to power plants, refineries, chemical plants, cement plants and other industries, including federal and state governmental agencies.
Pluto Technologies Inc. is a New York-based startup that offers mobile and web tools to empower small and medium-sized businesses to market their products and services to specifically mobile consumers. Pluto is a revolutionary new app that empowers consumers to find businesses with products and services that most closely meet their interests and lifestyle. The feature-rich app offers users a local exploratory experience — Pluto provides a fun, smart way to perform local lifestyle searches for the things you love.
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SOURCE Cemtrex, Inc.