SOURCE: Echo Automotive

Echo Automotive

October 23, 2013 07:30 ET

Echo Automotive Expands Offering With EchoAccelerate Licensing Program

Intellectual Property Licensing Opportunities Introduce Echo Technologies to Global Fleet Market

SCOTTSDALE, AZ--(Marketwired - Oct 23, 2013) - Echo Automotive, Inc. (OTCQB: ECAU) ("Echo Automotive", "Echo" or the "Company") a developer of technologies enabling the cost-effective aftermarket addition of fuel-efficient plug-in hybrid capability to new and existing vehicles, today announced the launch of EchoAccelerate™, its program for intellectual property (IP) licensing.

Through the EchoAccelerate program, Echo Automotive gives companies a unique opportunity to access patented and patent-pending automotive technologies, intellectual properties and trade secrets developed by veteran OEM automotive engineers and electrification pioneers with deep and rich experience working with Tier 1 suppliers. From battery modules and pack technology to designs for a full-size commercial plug-in hybrid van, the EchoAccelerate program can reduce research and development time and costs, and put OEMs and manufacturers on a faster path to market. The program also enables Echo to strategically and cost-effectively broaden its reach and extend its aftermarket solutions and electrification technologies to the global fleet vehicle market.

"Electrification of the global fleet market is gaining momentum in response to several key factors including increasing fuel costs, tightening of carbon dioxide regulation, increasing government mandates and corporate sustainability initiatives, growing commercial demand, and the potential to reduce fleet operating costs. This momentum is creating a greater sense of urgency for OEMs and automotive manufacturers to accelerate development and shorten time to market, which often begs the question of build or buy," said Jason Plotke, Echo Automotive Chairman and President. "EchoAccelerate offers companies an easy way to license innovative technology that complements or supplements their products and in-house capability by giving them access to millions of dollars in R&D, a rich IP portfolio and extensive electrification expertise. The program provides myriad opportunities that will benefit Echo, our partners and, ultimately, the industry and the communities we serve."

EchoAccelerate was developed to open access to Echo Automotive's R&D investments and its growing IP portfolio, which includes intellectual property acquisitions. The company is currently entertaining inquiries from domestic and international OEMs and manufacturers, and looks forward to building successful partnerships that drive revenue, shareholder value and faster market adoption of electrification technologies worldwide.

"We are very pleased by the market's response to our EchoAccelerate program," adds Dan Kennedy, Company CEO. "We made a bold strategic move in acquiring IP that has strengthened our portfolio and allowed us to broaden our solution set and our market reach."

About Echo Automotive, Inc. (OTCQB: ECAU)
Echo Automotive™ is a technology company that specializes in delivering cost-effective electrification products and solutions that are purpose-built to maximize fleet transportation efficiency and provide optimal return on investment. The key to Echo's strategy is the bolt-on nature of its solutions, which reduce operating costs and increase efficiency without affecting original vehicle operations. Additionally, Echo offers technology licensing, and consulting in design, energy storage, propulsion, conversions, and vehicle engineering. For more information, please visit www.echoautomotive.com.

Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, use of the proceeds from the financing transactions with United Fleet, increase in order fulfillment operations, growing demand for EchoDrive™ kits, development of technologies and products, and business strategy. These forward-looking statements are made as of the date of this news release and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K filed April 16, 2012, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

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