ARDEN, NC--(Marketwire - October 26, 2010) - WatchIt Technologies Inc. (
The Environmental Protection Agency and the Transportation Department are moving ahead with a proposal for medium- and heavy-duty trucks, beginning with those sold in the 2014 model year and into the 2018 model year. The plan is expected to seek about a 20 percent reduction in greenhouse gas emissions and fuel consumption from long-haul trucks, according to people familiar with the plan.
"Using the results from our previous test from an EPA certified testing facility on the patent pending gas version of the Air Pure fuel reformer, we expect that the diesel version will achieve at least the same 20% increase in fuel economy," stated Brian Riley, President and CEO of WatchIt Technologies Inc. "By using the intellectual property in the company's 5 patents, we should achieve the same results on the diesel as we did on the gas version, our technology will meet or exceed the new proposed government standards for both an increase in fuel economy and a decrease in tail pipe emissions. In a recent controlled road test, the gas version yielded fuel economy increases of nearly 30%."
According to Rob Ryon, CEO of Air Pure Systems Development, "The design of the fuel reformer allows for installation in existing vehicles as well as vehicles on the assembly line. This opens the market potential to nearly all vehicles on the road now or in the future."
Overall, the proposal is expected to seek reductions of 10 percent to 20 percent in fuel consumption and emissions based on the vehicle's size. Large tractor-trailers tend to be driven up to 150,000 miles a year, making them ripe for improved miles per gallon. Currently there are over 100,000,000 diesel trucks on the road in the US alone. A fleet of tractor-trailers typically gets about 6 mpg to 7 mpg, while work trucks can achieve 10 to 11 mpg. But they still consume about 20 percent of the transportation fuel in the U.S.
The White House has pushed for tougher fuel economy standards across the nation's fleet as a way to reduce dependence on oil and cut greenhouse gas emissions tied to global warming. "This is going to bring down the costs of transporting -- for transporting goods, serving businesses and consumers alike," Obama said on May 21, flanked by executives with Daimler Trucks, Volvo, Cummins and Navistar, and trucking industry and union officials.
About WatchIt Technologies Inc.:
WatchIt Technologies is an alternative "incubator" for developing and emerging "Green Technology" corporations. Its focus is on strategies that are structured to mitigate risk and produce returns in all market environments. Its current investment/development strategy is focused on direct investments in small/micro-cap public companies that have emerging growth and development and are exclusively involved in some aspect of "Green Technology."
It will offer management consultation to companies that meet its strict criteria and vetting process, and align those companies with individuals and financiers to help them achieve their financial goals and objectives.
Safe Harbor Act: Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact Information:
Contact:
Investor Relations
1-828-483-4131
Website: www.watchittech.com