SOURCE: GreenChek Technology Inc.

GreenChek Technology Inc.

June 24, 2010 08:45 ET

GreenChek Enters Into Letter of Intent

SAN FRANCISCO, CA--(Marketwire - June 24, 2010) -  GreenChek Technology Inc. (OTCBB: GCHK) today announced that the Company has received a Letter of Intent (LOI) from a Hong Kong customer. The LOI is expected to result in a purchase order for the manufacture and delivery of 15 ERD™-3.0 units within 60 days.

The LOI follows on from successfully completed field trials in Europe undertaken by European transportation companies over the past two years with heavy goods vehicles (HGV). With 3rd party verification completed and results proving the reduction of emissions and fuel savings by using the ERD™-3.0 technology, sales opportunities are opening up for the Company. 

According to the Hong Kong Special Administrative Region, Transport Department 2009, the air in Hong Kong contains almost three times more pollutants than New York's and more than twice that in London. Hong Kong's roads are some of the most crowded in the world, with more than 280 licensed vehicles for every kilometer of road. Diesel commercial vehicles are responsible for 90% of particulate matter (PM) and 80% of NOX emissions from the entire road transport sector, despite making up only 23% of the vehicle fleet. Hong Kong emissions standards, which are based on European standards, have been updated to meet the goal of 55% major pollutant level reduction by the end of 2010.

Lincoln Parke, President and Chief Executive Officer, said, "We are delighted to receive the LOI. The success of our European field trial has resulted in this LOI and, potentially, subsequent purchase order. We are very excited to be embarking on our commercial phase."

About GreenChek
GreenChek Technology Inc. is traded under the symbol GCHK on the OTCBB exchange and is based in San Francisco, California. GreenChek manufactures and distributes hydrogen injection technology that is primarily focused on mobile transportation applications, as well as stationary power generation applications. GreenChek manufactures an emission reducing device simply known as the ERD™, which can be retrofitted to any vehicle regardless of fuel source. GreenChek provides innovative world-class mobile Greenhouse Gas (GHG) emissions reduction technology, while greatly enhancing fuel economy for the mobile transportation industry. GreenChek's Onboard Hydrogen Generation and Injection (OHGI) technology is positioned to occupy the pre-eminent position in the emerging market for emissions reduction technology and fuel economy enhancement. Please visit our website: www.greenchektech.com.

Safe Harbor Statement
Statements in this press release regarding GreenChek's products, services, capabilities, performance, opportunities, development and business outlook that are forward-looking involve and are subject to known and unknown risks, uncertainties and other factors, some of which are beyond GreenChek's control and difficult to predict, and could cause actual results to differ materially from those anticipated, expressed or forecasted in the forward-looking statements. Such risks and uncertainties may include, but are not limited to: lack of operating history, transitioning from a development company to an operating company, difficulties in distinguishing GreenChek's products and services, ability to manufacture and deploy GreenChek's products, lack of or delay in market acceptance and fluctuations in customer demand, dependence on a limited number of significant customers, reliance on third party vendors and strategic partners, availability of raw materials, subassemblies and components, ability to meet future capital requirements on acceptable terms, continuing uncertainty in the emissions reduction industry and the global economy, compliance with federal and state regulatory requirements, timing, availability and success of new technology and product introductions and the other factors discussed in GreenChek's filings with the Securities and Exchange Commission.

Contact Information