TORRANCE, Calif., Aug. 3, 2012 (GLOBE NEWSWIRE) -- Vision Industries Corp. (OTCBB:VIIC) announces that on August 1, 2012, the Company entered into an engagement agreement with investment bankers Viant Green Capital LLC and Viant Capital LLC (http://www.viantgroup.com) to serve as its strategic and financial advisor. Viant was brought on to assist the Company in developing a strategy to effectuate a financing, licensing and/or business combination transaction, including identifying prospective transaction participants and investor prospects.
"This is the right time to bring on an investment banking firm of this caliber," says Martin Schuermann, CEO of Vision Industries Corp. Internally, on July 31, 2012, the Board of Directors appointed current Executive Vice President of Operations (EVP), Jerome Torresyap, to the position of President. Director Schuermann nominated Mr. Torresyap to replace him as President due to Mr. Torresyap's outstanding performance as EVP. Director Schuermann vacates the office of Presidency as of close of business July 31, 2012, but retains his position as Chief Executive Officer, Secretary, Treasurer, and Director.
About Vision Industries
Vision is a developer of zero emission electric/hydrogen hybrid powered vehicles and turnkey hydrogen fueling systems. Vision's proprietary electric/hydrogen hybrid drive system combines the superior acceleration of a battery powered electric vehicle with the extended range provided by a hydrogen fuel cell. For more information on Vision Industries Corp., please visit www.visionindustriescorp.com
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.