SOURCE: GreenCheck Technology, Inc.

November 03, 2009 12:43 ET

GreenChek Issues Corporate Update

SAN FRANCISCO, CA--(Marketwire - November 3, 2009) - GreenChek Technology Inc. (OTCBB: GCHK) today issued the following corporate update.

The European pilot project is ongoing and will continue into early next year. The Company has completed a series of European specific technical upgrades for the ERD 2.0, and extended the project in order to meet European conformity standards. "Tough European government regulations of greenhouse gas emissions will help achieve GreenChek's commitment to a minimum of 10% reduction in overall emissions in the pilot projects. We remain fully committed to the performance of our product and continue to believe that the ERD 2.0 will be an important driver of change for moving the European transportation industry to a low emission economy," states Lincoln Parke, President of GreenChek.

GreenChek will initiate a test pilot project in Canada and has secured a two-year lease on a warehouse in Ontario, Canada as of November 1, 2009 where the Canadian installations of the ERD 2.0 will take place. The Company will provide an update as soon as the project is initiated. These installations will mark the first tests in the North American market. "Technologies that reduce greenhouse gas emissions are increasingly in demand in the worldwide marketplace. Canada will continue to be a leader in the fight against global warming and protecting its natural environment. We believe that Canadian companies which invest in our technology are well placed to protect public health and their environment. We are excited to have this opportunity to bring our technology to Canada," states Lincoln Parke.

GreenChek is actively seeking short term funding from various sources which, if obtained would be sufficient to fund its ongoing advancement of its ERD 2.0 pilot projects, its planned S1 registration statement and S-8K filings with SEC, and planned collaborations with leading worldwide fleet companies to commercialize the ERD 2.0. Looking ahead, our primary goals for the remainder of fiscal 2010 include: continued performance optimization of the ERD 2.0, advancing a pilot project in Canada, and to continue to work for and increase our shareholder value. "I want to thank our shareholders for their continued support of GreenChek," expressed Lincoln Parke.

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.

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.

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