FuelNation(TM) Completed the Successful Installation and Demonstration of The R2R Technology in Record Time at the Bahrain National Oil Company
10 November 2000
FuelNation(TM) Completed the Successful Installation and Demonstration of The R2R Technology in Record Time at the Bahrain National Oil Company
BOCA RATON, Fla., Nov. 10 FuelNation Inc.
(OTC Bulletin Board: FLNT), a United States-based, business-to-business
Application Service Provider ("ASP") that offers advanced technology and
services solutions for the petroleum marketing industry, i.e., oil companies,
marketers, gas stations and transports, announces it has completed the
successful installation and demonstration of the ("R2R") technology in record
time at The Bahrain National Oil Company. The R2R technology is a complete
fuel technology management system for the petroleum industry. The new
technology allows multiple point of sales, tank monitors, global positioning
system, VSAT, wireless PDA devices, Internet phones, automated teller
machines, back office software, price signs and numerous other equipment
manufactures to integrate and seamlessly exchange data in an open architecture
environment without installing software. FuelNation installs a proprietary
router box connected to an existing retail and wholesale location and
automates data collection processes centralized for a customer's retrieval and
integration.
The Bahrain National Oil Company will monitor all 15 retail sites real
time over the Internet in the country of Bahrain. The 15 retail sites were
operational by the November 4, 2000, presentation and demonstration. A
contract with the Bahrain National Oil Company is being prepared for approval.
FuelNation will maintain its base operations in Boca Raton, Florida, and
Lexington, Kentucky. FuelNation is preparing to staff an office with support
services in Manama, Bahrain.
Chris R. Salmonson, President and CEO of FuelNation, stated, "It is
exciting to watch old economy businesses embrace technology. It's the
equivalent of sowing seed and having a harvest. Good seed will always produce
good fruit. We look forward to making additional announcements as we
progress." Please access the web site for your own perusal, at
http://www.fuelnation.com.
The statements in this press release that are not historical facts
constitute "forward-looking statements" that involve risks, uncertainties and
other facts which may cause actual results to be materially different from
those set forth in the forward-looking statements. Such factors include but
are not limited to, the following general economic and business conditions:
competition; the ability to implement and the effectiveness of business
strategy and development plans; quality of management; business abilities and
judgment of personnel; availability of qualified personnel; labor and employee
benefit costs; and availability and cost of raw materials and supplies. In
addition, The Company faces additional risks inherent in its business,
including: market acceptance of its technology, including its R2R technology;
the reliability of the companies technology in sustained and multiple
application scenarios; the ability to scale its operations to support growth;
the ability to attract necessary funding for its operations; and market
conditions in the fuel industry. The Company will not undertake and
specifically declines any obligation to publicly release the result of any
revisions that may be made to any forward-looking statements to reflect events
or circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.