Ecologic Transportation, Inc. Signs Memorandum of Understanding to Form Joint Venture with Green Solutions & Technology, LLC
SANTA MONICA, Calif.--Ecologic Transportation, Inc. (“Ecologic Transportation” or the “Company”) (OTCBB:EGCT) today announced it has signed a memorandum of understanding to enter into a joint venture with Green Solutions & Technology, LLC to contract with gas stations in California to provide them with a turnkey solution to offer new clean energy fuels such as biodiesel, E85, CNG as well as electrical charging stations.
The joint venture’s goal is to contract a minimum of 250 gas stations with executed 10-year fuel supply agreements with options for a further 10 years. Additionally, the agreement provides for product distribution agreements with an Ecologic affiliate, and marketing agreements for Ecologic Car Rental operations on selected premises.
“We want to make it possible for everyone to drive environmentally friendly vehicles by providing the security of convenient fueling. We want manufacturers to be confident in producing new clean fuel cars by enhancing customer acceptance. We can do both of these things by building out this infrastructure,” said Edward W. Withrow III, Chairman and Founder of Ecologic Transportation, Inc.
ABOUT ECOLOGIC TRANSPORTATION, INC.
Headquartered in Santa Monica, CA, Ecologic Transportation, Inc., is a holding company with wholly owned subsidiaries all dedicated to environmentally friendly transportation products and services. The company encompasses three separate but integrated operations that address the environment and transportation holistically: Ecologic Car Rentals, Ecologic Systems and Ecologic Products. This innovative company has an unbiased approach to green cars and clean fuels by providing a platform for all emerging environmental transportation technologies. For more information: www.ecologictransportation.com. For more news and information on Ecologic Transportation, please visit http://www.myshareholder.com/ecologic-transportation.html where you can follow Ecologic on Facebook, Twitter, and You Tube.
ABOUT GREEN SOLUTIONS & TECHNOLOGY, LLC
Headquartered in Los Angeles, CA, Green Solutions & Technology, LLC was formed in the midst of the current social and political mandate to give consumers direct access to more environmentally friendly “green” fuels, technologies, products and services. GST provides consulting services in the constantly evolving area of alternative energy, technologies, products, services and government regulations.
FORWARD-LOOKING STATEMENTS
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including statements that include words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our reports filed with the SEC. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.