SAN FRANCISCO, Oct. 3, 2011 /PRNewswire/ -- GreenChek Technology, Inc. (PINK SHEETS:GCHK) is pleased to provide its investors and general public, a corporate update for 2011.
For the year 2011, the Company has been focused on new product development, quality assurance and customer retention. The Company plans to meet and exceed manufacturing quality standards set forth by the industry and also our internal company standards. Our major goal is to develop new technology within our product research pipeline.
The Company has achieved excellent exposure by participating in pilot programs and third-party emission reduction testing in France. The results of our third party evaluated, emission reduction were a great success for the Company. The ERD exceeded our criteria for emission reduction of 8%. The ERD did not meet our internal company manufacturing quality assurance standards for some new components, given that our ERD product operates in extreme environments. Therefore, we are continuing ERD research and development to solve these component problems, before entering full commercialization. The Company retains its current client base and will work towards full commercialization of the ERD 3.0 platform.
The Company currently is developing new green energy technology in our product pipeline. We plan to announce the details of our new products in the next 30 days.
"We are pleased with the performance of the ERD and the progress of our research and development. We continue to build GreenChek and we are thankful to our investors for their support," stated Mr. L. Parke, the President of GreenChek.
GreenChek Technology, Inc. is traded under the symbol GCHK on the PINK SHEETS. GreenChek is a research and development company that develops, manufactures and distributes hydrogen injection technology that is primarily focused on mobile transportation applications, as well as stationary power generation applications. GreenChek manufactures an emission reducing device simply known as the ERD™, which can be retrofitted to any vehicle regardless of fuel source. 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. Please visit our website: www.greenchektech.com.
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. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential" or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, 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.
SOURCE GreenChek Technology, Inc.