NEW YORK and HARBIN, China, Oct. 4, 2010 (GLOBE NEWSWIRE) -- American Jianye Greentech Holdings, Ltd. (OTCBB:AJGH), a leading China-based developer, manufacturer and distributor of alcohol-based automobile fuels and civil-use fuels, including methanol, ethanol, and blended fuels, today announced its alcohol based clean fuel won the best fuel award for the race car test drive experiment hosted by the Australia Race Car Association.
The company participated in a race car fuel test experiment sponsored by the Australia Race Car Association and Ford Motor Company in Australia. The race car that used American Jianye's E85 clean fuel completed the track faster than competing cars that used unleaded gasoline.
E85 is an alcohol based clean fuel comprised of up to 85% ethanol. E85 has an octane rating higher than that of regular gasoline's typical rating of 87, or premium gasoline's 91-93. This allows the fuel to be used in higher compression engines which tend to produce more power per unit of displacement than their gasoline counterparts. E85 also burns cleaner and results in lower toxic waste emissions than unleaded gasoline. The key advantage of American Jianye's fuel, versus similar alcohol-based fuels, is the fuel can be used in standard combustion engines with no need for engine modification or gas station modifications to accommodate the fuel.
Mr. Haipeng Wang, Chairman and Chief Executive Officer commented, "We are pleased to have been invited to the Australia Race Car Association fuel test drive experiment. Our clean fuel clearly outperformed comparable unleaded gasoline fuels. The race car experiment further reinforces the competitive advantages of our products, both in terms of performance and emissions."
Mr. Haipeng Wang continued, "We attribute the exceptional performance of our clean fuel products to our heavy investments in research and development. Our clean fuels have distinct advantages over both unleaded gasoline and alcohol-based fuels do to our proprietary and patented catalysts. Our technology, combined with our strong management team, established distribution channels and close relationship with the government position us at the forefront of this rapidly expanding market in China."
About American Jianye Greentech Holdings
American Jianye Greentech Holdings, headquartered in Harbin, China, is a leading developer, manufacturer and distributor of alcohol-based fuel. The company's alcohol-based fuels burn with higher efficiency and significantly lower toxic waste emissions than unleaded gasoline. The unique combination of catalysts in the fuel enhance fuel octane rating and engine power, inhibit the premature oxidation of the fuel, help remove sediment in the carburetor, and prevent the erosion of the engine cylinder surface. Additional information about the company is available at: www.americanjianyegroup.com.
This press release contains certain "forward-looking statements" relating to the business of the Company. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.