SOURCE: SkyBridge Technology Group

October 15, 2008 09:30 ET

SkyBridge Technology Group, Inc. Announces Letter of Intent to Acquire Performance Fuel Enhancement, Inc. and Patented Technology

VANCOUVER, WA and PORTLAND, OR--(Marketwire - October 15, 2008) - SkyBridge Technology Group, Inc. (PINKSHEETS: SKGO) announced today that it had entered into a Letter of Intent ("LOI") to acquire from Wesley Marr 100% of the issued and outstanding stock of Performance Fuel Enhancement, Inc., a Delaware corporation, in a tax free reorganization with the Definitive Agreement to be completed on or before December 31, 2008.

President and CEO of SkyBridge James Wheeler stated, "We are excited about the future possibilities in fuel enhancements and green energy. This is why we have decided to change the direction of SkyBridge from telecom technology and focus our attention on fuel saving products and green energy technology. We feel that Performance Fuel Enhancement, Inc. along with Mr. Wesley Marr will bring an added value to our shareholders."

About Wesley Marr

Wesley Marr is the founder of Performance Fuel Enhancement, Inc., headquartered in Guymon, OK. Mr. Marr has formulated a family of fuel additives for both petroleum and biological products using "green" proprietary technologies. The petroleum-based fuel additive is patent protected. The fuel additive is manufactured on site in Guymon, OK and shipped nationwide. Mr. Marr has extensive experience in green energy technology and has been granted a patent for a fuel enhancement additive from the U.S. Patent Office.

About Performance Fuel Enhancement, Inc.

The Performance Fuel Enhancement's brand called PF-700 was launched by Mr. Marr in 2004 for use in both gas and diesel engines. Customers report better mileage, increased engine performance, fuel stabilization and cleaner exhaust emissions. PF-700 is being sold directly to trucking companies, farmers and ranchers in Kansas, Montana, Nebraska, North Dakota, South Dakota, Texas and Wyoming.

Mr. Marr stated, "PF-700 is the right product for national exposure through both chain store and gas station distribution kiosks. We are pleased to team-up with SKGO to help us with marketing PF-700."

About Fuel Additives and Octane Boosters

Performance fuel additives and octane boosters are an established market sector with many recognized national brands. It has been reported that the U.S. fuel additives market will reach $8.4 billion in 2008, driven by government mandates and the fuel performance needs of more complex engines.

Certain Information

Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statements of SKGO officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Certain statements in this news release may contain forward-looking information and are based on Management's current expectations, estimates and projections subject to change. Words such as "anticipates," "expects," "intends," "plans," "targets," "projects," "believes," "seeks," "estimates" and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements. Unless legally required, the Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. The Company disclaims any information that is created or distributed by any outside party and endorses only information that is communicated by its official Press Releases.

Contact Information

  • Contact Information:
    SkyBridge Technology Group, Inc.
    Vancouver, WA
    James Wheeler
    Chairman & CEO
    (Tel) 360-823-4343