SANTA CLARITA, Calif., June 14, 2012 /PRNewswire/ -- U.S. ENERGY INITIATIVES CORP (PINKSHEETS: USEI) previously announced a Joint Venture with Bulova Tech Labs ("Bulova") to distribute a 96 Octane gasoline replacement fuel priced below the local prevailing price for regular grade 87 Octane gasoline. The product is branded Singular 96™.
Bulova completed an initial sales test on 800 vehicles. Currently, USEI is completing a logistics solution to support a Federation of twenty (20) stations in the same local geographic area. The stations are located in Canada and the feedstock(s) and materials are exported from the U.S. The date of availability of Singular 96™ will be announced when we complete the logistics solution for continuous supply of our product.
The benefits of Singular 96™ include use in both Flex Fuel vehicles and vehicles that use unleaded gasoline. Singular 96™ can produce superior mileage in unleaded gasoline fueled cars. The results also show that Singular 96™ produces equal mileage to the mileage of regular unleaded gasoline in a Flex Fuel vehicle whereas E-85 produced lower mileage to the mileage of regular gasoline. These benefits result from the proprietary and patent pending ingredients in Singular 96™.
According to Anthony Miller, CEO, "Singular 96™ is 'A Universal Fuel™' because it replaces all grades of unleaded gasoline and also E-85."
About U.S. Energy Initiatives
The Company has two separate energy initiatives; one in the automotive sector and one in the oil, gas & technology sector.
We will continue to develop and market our automotive technologies which we have done since 1996; and focus on marketing GREEN retrofit systems for the conversion of gasoline and diesel engines, and market our new Singular 96™ hybrid fuels.
We will also acquire and develop stranded or un-recovered oil properties for enhanced oil production, create partnerships with operators, create strategic alliances for primary and secondary recovery, and partner with farm-ins on properties where technology will be utilized to improve recovery efforts. Our goal here is to become an environmentally responsible oil and gas company; utilizing all methods available to improve oil recovery.
We will market our products to a worldwide market to produce significant revenue and add value for our shareholders.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause AM Oil's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.
Contact: Investor Relations
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SOURCE U.S. Energy Initiatives Corp