SaviCorp Announces Major Exclusive International Distribution Agreement with DynoGreen Tech, LLC to Sell DynoValve in India, Dubai, the UAE and Other Foreign Countries
5 Year DynoGreen Tech Exclusive Agreement Includes Initial Purchase of 2,000 DynoValves and Substantial Investment in SaviCorp
SANTA ANA, CA--May 23, 2013: SaviCorp (OTCPK: SVMI)
Serge Monros, Founder, Chief Executive Officer/Chief Technology Officer, SaviCorp and Victor Chu, President, SaviCorp have announced this morning a new five-year exclusive international marketing and distribution agreement with San Diego, California based DynoGreen Tech, LLC, giving SaviCorp and the DynoValve its largest distribution arrangement to date.
"The long-term exclusive distribution agreement will create incredible sales opportunities by exposing the DynoValve to international fleet operations and individual consumers worldwide," said Serge Monros. "We will be dispatching a team of installers and training technicians, who will travel to Dubai in the next several weeks to begin our program," Monros continued.
Saheed Palkkandy Kottoth, Chairman/CEO of DynoGreen Tech, and SaviCorp signed this historic major distribution and partnership agreement on Saturday, May 18th. "We are thrilled at the opportunity to bring this incredible product to an international market that includes Dubai, the UAE, and India along with a number of other foreign countries," said Palkkandy Kottoth. "This is the kind of product that we have been waiting for. In India, and the Middle East, where exhaust emissions pose such a terrible threat to people's health and the environment, we believe we can help each country significantly improve air quality in urban areas significantly and also increase automotive performance by introducing the DynoValve," Palkkandy Kottoth continued.
The exclusive distribution agreement includes an immediate initial purchase of 2,000 DynoValve units, which will be distributed among the 2,000 foreign distributor locations. Additional inventories will be ordered after completion of training and certification. The partnership guarantees SaviCorp minimum sales of 500 units per quarter throughout the five-year term. The initial rollout will begin with installations in India, the UAE, and Dubai, including the Dubai government-owned taxi service.
"As unit sales increase, our ability to deliver the DynoValve in a more cost-effective way will also increase. The fact that Saheed and his team have already spent many years and millions of dollars developing their marketplace suggests that their projections of future sales may be somewhat conservative. This agreement has potentially put SaviCorp on track to multi-million dollar revenues," said Chu. "This deal, coupled with our promising new U.S. sales efforts and the anticipated closing of several other distribution agreements over the course of this year, will create a strong foundation for continued growth of SaviCorp for its shareholders," Chu added.
"Today SaviCorp has made significant strides at becoming a worldwide player in the effort to reduce emissions internationally and address the issue of high gas prices for fleet operators and consumers," said Serge Monros. He added, "After many years of extremely hard work, our forecast is stronger because of our exclusive distribution agreement with DynoGreen Tech, which earlier this year had taken a significant investment position in SaviCorp."