Patriot Energy Corporation

Patriot Energy Corporation

March 12, 2009 09:00 ET

Patriot Energy Begin Talks With Major Foreign Automaker

MONTREAL, QUEBEC--(Marketwire - March 12, 2009) - Patriot Energy Corp. (PINKSHEETS:PGYC) announced today that it has begun talks with a foreign automaker to become the first to install the H2O Oxygenator on its lines of vehicles to immediately introduce cleaner and more efficient cars to the US and International markets.

According to Patriot Energy Corp., the company has been approached by a major foreign automaker to begin testing a retrofit H2O Oxygenator unit to various models. If a transaction is concluded, Patriot Energy's device could be included in as many as one million cars produced yearly for the next 5 years, representing $500 million per year in unit sales and approximately $450 million in Carbon Credit trading, which would be shared with the Automaker. The testing of the retrofit unit is expected to begin in April and to continue for approximately 3 months before further agreements can be concluded.

"We did not expect this type of attention so early into our launch, but given the state of the industry, Automakers are really aggressive on being first to market cleaner and more efficient cars and truly respond to the market demand in the US and Internationally." Said Tony Bisante, President and CEO of Patriot Energy Corp. "Other domestic automakers have contacted us, but we have not begun any talks with any of them at this time," further added Mr. Bisante.

About Patriot Energy Corp.

Patriot Energy Corp. is a management holding corporation, which owns a wholly owned subsidiary named Telteck Solutions and owns a 99 year exclusive leased license agreement with Tectane Technologies Corporation for the Dual H2O Engine Oxygenator and New Tri-Brid Engine (Electric/Flex-Fuels/H2O) Technologies. Patriot Energy specializes in the development and marketing of energy efficient technologies with a focus on reducing America's dependence on Foreign Oil.

Total Shares Outstanding (fully diluted): 193,500,000

All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.

A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.

Contact Information

  • Momentum IR
    Max Gagne