SOURCE: Fittipaldi Logistics, Inc.

November 27, 2007 10:36 ET

Energy Capital Solutions Retained as Investment Banker

BOCA RATON, FL--(Marketwire - November 27, 2007) - Fittipaldi Logistics, Inc. (OTCBB: FPLD), in conjunction with State Petroleum Distributors, the company expected to merge with FPLD and increase annual consolidated revenue to $235 million, announced that it has engaged Energy Capital Solutions, LP (ECS) www.energycapitalsolutions.com, an investment banking and NASD-member firm focused on raising private capital and providing merger and acquisition advisory services to public and private companies involved in the energy sector. Since being founded in 2001, ECS has raised approximately $2.2 billion in 66 private equity and debt financing transactions and has advised on merger and acquisition transactions with an aggregate value of approximately $1.9 billion. Keith Behrens, Managing Director and Principal of ECS, remarked, "In our opinion, this company has a compelling story with its high margin technology division that recently launched its Driver Seat Application; the steady cash flow generated by its freight transportation and logistics company serving the southeastern U.S.; and the pending acquisition of State Petroleum Distributors, a fuel distribution company serving the northeastern U.S." Frank Reilly, FPLD's CEO, commented, "We feel that our relationship with ECS will enable us to move forward with strategic acquisitions and accelerate the deployment of our telematics solutions."

About Fittipaldi Logistics

Fittipaldi Logistics, Inc. is a technology company specializing in providing pertinent, real-time information to the worldwide transportation and security industries. Our telematics solutions collect vehicle and container-based data and integrate it with information gathered from various disparate legacy systems across the supply chain. The data is then synthesized and reformatted into valuable, actionable information, and delivered to appropriate end-users across the logistics value chain through secure web-based applications. Specific offerings include: vehicle tracking, inventory/asset visibility, secure trucking, matching available freight with available trucks, and many others. In addition, through Fittipaldi Environmental Solutions, the company has adapted its technology to provide critical information enabling verification of fuel savings and reduction of harmful emissions as well as monitoring of driver performance that, when improved, can result in significant fuel savings. Fittipaldi Carriers a wholly owned subsidiary is a regional logistics company based in Columbia, SC with projected annual revenue of $30 million. For further information, go to www.emmologic.com.

This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: we have a history of losses and an accumulated deficit, expect losses to continue for the foreseeable future and will need to raise additional working capital in order to implement our business model and sustain our operations; the loss of one or more of our major customers could materially and adversely effect our future revenue and business operations; as well as those factors discussed under "Risk Factors" in our Annual Report on form 10-KSB filed on October 15, 2007 and various disclosures in other reports filed from time to time with the United States Securities and Exchange Commission.

Contact Information

  • Fittipaldi Logistics Contact Information:
    Richard Hersh
    Chairman
    (866) 998-7557 x302
    Email: ir@emmologic.com