SOURCE: Venta Inc.

Venta, electric vehicles, Tazzari Zero, electric cars, ev

February 26, 2010 13:33 ET

Venta Inc. to Initiate Distribution of Foton Diesel and CNG Delivery Trucks to the American Market

DALLAS, TX and BIRMINGHAM, AL--(Marketwire - February 26, 2010) - Venta Inc. formally announced today that they have signed an agreement with Foton America for distribution rights of both Light and Medium-duty Diesel and CNG Foton trucks in the US.

In an effort to reduce emission from the use of fossil fuels and help companies comply with the latest Green House Gas (GHG) requirements, Venta began an initiative to convert some trucks to Compressed Natural Gas (CNG). The Compressed Natural Gas powered trucks produce much fewer emissions than even the cleanest diesel engines available in the market today. With natural gas prices slightly above half of gasoline prices, the conversion to the cleaner-burning domestic fuel makes good business sense for any company that chooses to be eco friendly.

"With fleet operators, delivery companies, and government agencies making the commitment to move to a 'greener,' less polluting form of transportation, Venta Inc. is at the forefront of an incredible opportunity," stated Dmitri Tisnoi, CEO of Venta Inc.

Jared Schnader, Vice President of Business Development for Foton America, stated, "We expect many companies, both large and small, to consider purchasing alternative-fuel vehicles to begin replacing their existing fleets."

According to the U.S. Energy Information Administration (EIA), 84 percent of the natural gas used in the U.S. comes from domestic sources. The initiative to convert delivery trucks to CNG will help to keep and create more American jobs, decrease foreign oil dependency, and help many businesses to comply with the latest Green House Gas regulations.

To help finance and drive the adoption of clean fuel fleets, GE Capital Fleet Services' processed more than $2.5 million in rebates in 2009 under the Hybrid and Alternative Fuel Vehicles Rebate Program.

About Venta:

VENTA Inc. ( ) is dedicated to finding, developing, and distributing environmentally friendly products and technologies in the automotive arena from all over the world to a network of dealerships and other automotive end users.

About Foton America

Foton American ( ) is a privately owned company affiliated with Chinese OEM Beiqi Foton Motors and is committed to cleaning the environment and strives to lead the US into the future of AFVs.

About Foton

Beijing-based Foton has been in business for more than 13-year and now employs over 30,000. In 2008, Foton sold 409,800 vehicles. Foton and Daimler have agreed to set up a 50:50 truck venture worth around $930-million. The Beijing Foton Daimler Automotive Company is set to start producing diesel engines in 2011 and trucks in 2012, with annual heavy-duty truck sales projected at 100,000 units from 2012 to 2015.

Forward-Looking Statement

This release contains forward-looking statements that reflect Venta Inc.'s plans and expectations. In this press release and related comments by Company Management words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions are used to identify forward-looking statements representing management's current judgment and expectations about possible future events. Management believes these forward-looking statements and the judgments upon which they are based to be reasonable, but they are not guarantees of future performance and involve numerous known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance, achievements or financial position to be materially different from any future results, performance, achievements or financial position expressed or implied by these forward-looking statements.

Contact Information

  • Media Contact:
    Richard Griffiths

    Investor relations:
    Dmitri Tisnoi