<<< NEWS >>> Green Bridge Technologies International, Inc. Completes Major Acquisition of Air Pure Systems Development, Inc.
LINDEN, Mich., Jan. 12 /PRNewswire-FirstCall/ -- Green Bridge Technologies International, Inc. (Pink Sheets: GRBT), is pleased to announce that the Company has acquired Air Pure Systems Development, Inc. (APS), an Indiana company with proven devices that lower output emissions while improving fuel consumption in gasoline engines. Green Bridge Technologies purchased 80% of APS for an undisclosed amount of stock, cash and other considerations.
APS has operated a 1999 Ford Expedition with the patented fuel modification device installed for over 50,000 miles. Third party testing of the specially equipped Ford Expedition was performed in April 2007 by the Environmental Testing Corporation (a Denver high altitude EPA approved test facility). The test indicated a high-altitude city and highway performance of 14.92 MPG and 22.26 MPG, respectively. This result indicates an improvement in MPGs of 14.8% city and 23.7% highway or an overall combined average improvement of 19.3% when compared to the original EPA-estimated performance. As part of the purchase agreement, APS will repeat the third party test without the device operating to establish a baseline and then again with the device operating to reconfirm the results. APS anticipates results will vary with different fuels, additives, ethanol substitutes, engines, etc., however, MPG improvement should remain around 20% overall.
The acquisition of APS is part of the Company's strategy to acquire or license new energy efficient technologies and bring them to market. The Company and APS will start the design of the production version of the device immediately. APS will operate as a subsidiary of Green Bridge Technologies International, Inc.
"We are ecstatic to have acquired a company with proven innovative technology that not only reduces emissions but also lowers fuel consumption. The Air Pure Systems technology is a perfect complement to our Vapor Technology and we will be able to bring this product to market very soon," stated Leonard Baxter, Chairman and CEO of Green Bridge Technologies International, Inc.
For more details on Green Bridge Technologies accomplishments in 2009 and expectations for 2010 read the Company's "President's Letter" by visit: www.gbtintl.com
About Air Pure Systems Development, Inc.:
Air Pure Systems Development (APS), an Indiana Corporation, has been established for the purpose of developing, patenting, marketing, licensing and potentially manufacturing a variety of devices designed to lower output emissions and improve fuel consumption efficiencies of gasoline and diesel powered engines. Various devices, based on the patented fuel reformer concepts, are currently being designed, road tested and qualified through an Environmental Protection Agency (EPA) certified test facility.
The device in its simplest configuration is mounted inline in the fuel line between the gas tank and the fuel rails. The fuel flows through the device and is reformed, using the Company's patented technologies into a more efficient combustible product. This higher efficiency fuel directly yields higher miles per gallon (MPG) and lower exhausted emissions.
About Green Bridge Technologies International, Inc.:
Green Bridge Technologies International, Inc. (www.gbtintl.com) is a technology-based company that concentrates on developing and marketing new energy efficient products and services, through its three divisions. The Company operates a Technology Incubator facility and works with inventors and early stage development companies that have technologies that will help reduce US energy needs. The Company's wholly owned subsidiary Vapor Technologies, Inc. develops fuel-efficient technologies. The Company's Government Services Division assists its clients in the approval process for products to become eligible for listing on the U.S. General Services Administration (GSA) Schedule and GSA Advantage, as well as marketing these products to various sectors of the government. Through its wholly owned subsidiary, Ecologix, the Company provides solutions for vehicle and asset recovery and tracking. The tracking technology product line has applications for data and tracking functions across a variety of industries, utilizing CDMA, IDEN, and GSM technologies.
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.
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Source: Green Bridge Technologies International, Inc.
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