Greencell to Help Transportation Industry

Online, May 2, 2011 (Newswire.com) - Aurora, Ontario - Greencell Technologies Inc. (Frankfurt Open Market: GT5), with the announcement of an exclusive 48-month "License to Use" program making immediate delivery of Hydrocell MAX™ units to fleet owners possible, is ready to provide "GREEN" fuel savings to millions of truckers across North America through an innovative platform designed to help transport trucking fleets deal with rising fuel costs while not tying up valuable capital.

K. Allen Etherington, President and CEO of Greencell Technologies, explains fleet owners can now take advantage of a no-risk opportunity to install the Hydrocell MAX™ unit on a license to use program at a monthly cost that is roughly equivalent to 50% of the fuel savings generated by the unit. With this highly-anticipated platform, he adds, the license fee is an operating expense that does not tie up valuable working capital, making Hydrocell MAX™ a profit centre system, driving savings straight to the bottom line.

The Hydrocell MAX™ is powered by Hy-Drive's patented hydrogen injection technology. The system has been third-party verified to deliver a 10-15% fuel savings in over-the-road highway tractors. The unit has also been proven to reduce particulate emissions by upwards of 40%.

"We are very excited to be launching this program," said Etherington, from the company's head office in Aurora, Ontario. "Four months ago we signed an MOU with Hy-Drive to license their technology into the North American marketplace. Since then we have been doing extensive research on what the industry needs in order to take advantage of both the fuel and emission reduction benefits of this technology. As a result," he concludes, "we feel we now have a simple and effective program that can deliver."

In recent years, hundreds of trucks have been forced off the highway simply because owners could no longer afford rising diesel costs. According to the U.S Energy Information Administration, the price of diesel has spiked up more than 40¢/gallon in last couple of months alone. Today the cost of diesel has crossed the $4.00/gallon threshold. With no end to rising crude prices in sight, there is a huge demand for this technology.

"While it is proven that the Hy-Drive technology is sound," said Robert Bucher, recently appointed President and CEO of Hy-Drive Technologies, "it is often the case that the sound product only meets part of the customer demand. Take Xerox as an example. Their innovative financing made the company, not just their innovative technology. The same holds true here. We congratulate Greencell for understanding and delivering a program to truly meet their customers' needs."

For more information on how this program and Greencell Technologies can assist you, please contact Ken Mair, Marketing Manager, at [email protected] or in Toronto at 416-809-8120.