CIX Hands a Green Win to Skymeter

Online, December 16, 2009 (Newswire.com) - TORONTO, CANADA - Skymeter Corporation, innovator of the world's first all-in-one, pay-as-you-go meter for parking, road tolling and automotive insurance was named by the Canadian Innovation Exchange as the winner in the Individual Heat for Clean Tech. From a large pool of applicants, CIX selected 20 technology-based companies via a qualified Selection Committee to showcase their innovative product and services in front of the CIX community of investors, innovators and entrepreneurs.

http://www.canadianinnovationexchange.com/cix.top.20.winner.php

"We were already honored to be among the top 20 from the hundreds that applied", says Skymeter CEO, Kamal Hassan. "Governments have long seen us as clean because we enable emission reduction, but to be voted head of the class by investors shows our time has arrived."

"This year's competition was a real success thanks to the efforts and expertise by companies such as Skymeter" said Robert Montgomery, Co-Chair of CIX and CEO of First Maximilian Associates. "We look forward to continuing to build a forum that brings together the principal players in the innovation economy and shines a spotlight internationally on our excellent people and ideas."

"Winning a Clean Tech competition during the contentious 2009 Copenhagen Climate Conference, marks Skymeter as an upcoming exporter of Canadian technology for the 21st Century", claims Bern Grush, Skymeter's founder and Chief Scientist. "I see every reason to add smarter driving to cleaner fuels and efficient vehicles as the three most critical elements to bring automotive emissions in line with global climate goals."

"We are very pleased that in a time of global concern and disillusionment a company that offers solutions to traffic congestion and automotive emission stands out for investors. Our solution promises to create exciting new business models that cross a number of categories such as "pay-as-you drive" road-use and insurance while addressing key issues such as parking congestion and infrastructure funding," said Hassan in an earlier interview. "What will eventually become even more important is that our technology can be deployed without taxpayer subsidy and without reducing GDP since there is no requirement to burden economically critical travel."

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Skymeter will soon announce an R+D contract in the EU with impacts for Galileo and GPS integration as well as a contract managing park-it-and-forget-it technology using a privacy-assured, in-car GPS-based parking meter.