SOURCE: NuState Energy Holdings, Inc.

January 31, 2008 10:20 ET

My Driver Seat™ Verifies Reduction in Fuel Consumption

BOCA RATON, FL--(Marketwire - January 31, 2008) - NuState Energy Holdings, Inc. (OTCBB: NSEH) announced that its My Driver Seat™ fuel management tool enables reductions of 5% to 28% in fuel consumption. This monthly fuel savings at current fuel prices would range from $275 to $1500 per truck as well as reducing harmful emissions. Frank Reilly, CEO of NuState commented, "We are confident that once customers complete their on-going, 60-day, My Driver Seat™ pilots, they'll make the decision to roll it out to the rest of their fleets based on the tremendous fuel savings and emissions reductions. We anticipate having contracts with very well-known companies at the end of these test programs in the very near future confirming our forecast of 10,000 units by the end of 2008."

"My Driver Seat™," the company's proprietary software application, validates nearly any products designed to improve fuel efficiency or reduce harmful gas emissions more accurately and quickly than any other method. At the same time, it is a fuel management tool that provides real-time information, such as vehicle speeds, idling times, out-of-route notifications, and unauthorized use, which translates to significant fuel savings.

In addition to being a fuel management tool, My Driver Seat™ includes a broad range of telematics solutions that collect vehicle and container-based data and integrate it with information gathered from various devices. Among the many capabilities of these telematics solutions are on-demand live diagnostics, two-way communication, temperature alerts, electronic fuel tax payment, inventory/asset visibility, secure trucking and matching of available freight with available trucks. Further, My Driver Seat™ may be customized to specific customer requirements.

The company also owns Fittipaldi Carriers, a regional logistics company based in Columbia, SC with projected annual revenue of $30 million. For further information, go to

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

  • For further information, please contact:
    Richard Hersh
    (561) 998-7557
    (866) 998-7557