SOURCE: IO News Wire

IO News Wire

October 05, 2010 09:30 ET

(OTCBB: EGCT) CEO Bill Plamondon, Former President of Budget Rent A Car, Aiming to Build an All "Green" Fleet

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire.

NEW YORK, NY--(Marketwire - October 5, 2010) -  Ecologic Transportation, Inc. (OTCBB: EGCT), a company dedicated to environmentally friendly transportation products and services, is aiming to be the largest, all "green" vehicle rental fleet with over a $125 million in revenue within 36 months.

Bill Plamondon has a long history of bringing a company to profitability, most notably spearheading the growth resurgence of ANC Rental Corporation (parent company to Alamo Rent A Car and National Car Rental) after the decline of the travel industry due to the terrorist attacks of September 11th, 2001.

Mr. Plamondon also was involved in one of 1997's most talked about mergers when Team Rental Group purchased Budget Rent A Car from Ford Motor Co. for approximately $1.95 billion in cash and stock.

Ecologic is poised for a tremendous growth spurt if the aggressive acquisition plan discussed on the corporation's website is implemented and executed.

For more on Ecologic Transportation, please visit

Other active stocks are Avis Budget Group Inc. (NYSE: CAR), Hertz Global Holdings (NYSE: HTZ) and Highline Technical Innovation (PINKSHEETS: HLNT).

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