5 Year DynoGreen Tech Exclusive Agreement Includes Initial Purchase of 2,000 DynoValves and Substantial Investment in SaviCorp®
SANTA ANA, Calif., May 23, 2013 (PRNewswire) – SaviCorp® (OTCPK: SVMI)
Serge Monros, Founder, Chief Executive Officer/Chief Technology Officer, SaviCorp and Victor Chu, President, SaviCorp have announced this morning a new five-year exclusive international marketing and distribution agreement with San Diego, California based DynoGreen Tech, LLC, giving SaviCorp and the DynoValve its largest distribution arrangement to date.
“The long-term exclusive distribution agreement will create incredible sales opportunities by exposing the DynoValve to international fleet operations and individual consumers worldwide,” said Serge Monros. “We will be dispatching a team of installers and training technicians, who will travel to Dubai in the next several weeks to begin our program,” Monros continued.
Saheed Palkkandy Kottoth, Chairman/CEO of DynoGreen Tech, and SaviCorp signed this historic major distribution and partnership agreement on Saturday, May 18th. “We are thrilled at the opportunity to bring this incredible product to an international market that includes Dubai, the UAE, and India along with a number of other foreign countries,” said Palkkandy Kottoth. “This is the kind of product that we have been waiting for. In India, and the Middle East, where exhaust emissions pose such a terrible threat to people's health and the environment, we believe we can help each country significantly improve air quality in urban areas significantly and also increase automotive performance by introducing the DynoValve,” Palkkandy Kottoth continued.
The exclusive distribution agreement includes an immediate initial purchase of 2,000 DynoValve units, which will be distributed among the 2,000 foreign distributor locations. Additional inventories will be ordered after completion of training and certification. The partnership guarantees SaviCorp minimum sales of 500 units per quarter throughout the five-year term. The initial rollout will begin with installations in India, the UAE, and Dubai.
“As unit sales increase, our ability to deliver the DynoValve in a more cost-effective way will also increase. The fact that Saheed and his team have already spent many years and millions of dollars developing their marketplace suggests that their projections of future sales may be somewhat conservative. This agreement has potentially put SaviCorp on track to multi-million dollar revenues,” said Chu. “This deal, coupled with our promising new U.S. sales efforts and the anticipated closing of several other distribution agreements over the course of this year, will create a strong foundation for continued growth of SaviCorp for its shareholders,” Chu added.
“Today SaviCorp has made significant strides at becoming a worldwide player in the effort to reduce emissions internationally and address the issue of high gas prices for fleet operators and consumers,” said Serge Monros. He added, “After many years of extremely hard work, our forecast is stronger because of our exclusive distribution agreement with DynoGreen Tech, which earlier this year had taken a significant investment position in SaviCorp.”
SaviCorp® (savicorp.com) is an innovative automotive technology company that licenses, manufactures, distributes and services an array of patented technologies and products that reduce harmful emissions and improve fuel efficiency. The Company, an evolution of more than twenty years of automotive engine emissions testing, materials research and development, was formed to create, support and license our patented supplementary vehicle Emissions Reduction Technologies (ERT) to reduce emissions and improve efficiency. Using proprietary methods and processes, the Company's flagship DynoValve® system protects the environment, lessens an engine's carbon offsets, increases gas mileage, and improves engine performance resulting in dramatic savings in both fuel and oil.
About DynoGreen Tech
DynoGreen Tech, LLC, is newly established subsidiary of Prime Express Group of Companies, an international conglomerate of companies which has over 1,800 employees worldwide, including ownership positions in the courier, travel, and hospitality businesses. Prime Express and Dubai-based advertising company, Social Maestro Consulting, are owned by Makati Express Cargo, LLC, a provider of international air and sea freight services. The company markets and distributes products and services to customers in the Middle East, Central Asia, India, and the Pacific Rim.
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Statements contained herein that are not historical facts may be forward-looking statements within the meaning of the Securities Act of 1933, as amended. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts, to procure future contracts, to acquire certain assets, or to finalize funding for the purchase of certain assets. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
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