SOURCE: XcelPlus International

August 01, 2006 13:20 ET

XcelPlus Exceeds Revenue Goal for 2nd Quarter of 2006

SALUDA, VA -- (MARKET WIRE) -- August 1, 2006 -- XcelPlus International Inc. (PINKSHEETS: XLPI), a manufacturing and marketing company specializing in alternative fuel technologies, today announced 2nd quarter revenues for FY 2006.

Revenues for the 2nd quarter, which closed on June 30th, 2006, increased to $300K, a significant increase over revenues for the previous quarter. According to Mr. Kevin Whited, Sales Director for XcelPlus, the increase is due primarily to marketing efforts focused on the Flextek conversion kit. The Flextek is a kit that converts gasoline fueled vehicles into flex-fuel vehicles capable of running on E85 ethanol, gasoline, or any blend of the 2 fuels.

"We see these revenues as a very positive sign and we fully expect the positive results seen in our 2nd quarter to continue throughout our 3rd and 4th quarters," said Mr. Bill R. Smith, President of XcelPlus. "During our shareholder conference call we announced a 2nd quarter revenue goal of $250K. Exceeding that goal gives us confidence that we will meet or exceed our 3rd quarter goal of $1 million in revenue. Our print and radio advertising campaign has only just begun and we will be airing television broadcast commercials in the near future.

"We are also increasing our lobbying efforts, as public and political acceptance of E85 helps expand our markets. Just yesterday Governor George Pataki of New York signed legislation designed to make it easier for New York service station owners to offer E85 ethanol to their customers, and we fully expect other states to follow suit and make E85 readily available to consumers."

Governor Pataki signed Senate bill 8124/Assembly bill 11,868 into law at a service station owned by a dealer who expects to have an E85 pump installed before Thanksgiving. The signing of the New York bill comes just one week after Minnesota Gov. Tim Pawlenty's endorsement of the Flextek conversion system and E85 ethanol.

About XcelPlus International:

XcelPlus International Inc. manufactures and markets E85 Conversion Systems, Ethanol Fuel Products, and Specialty Chemicals which enable the growth of the ethanol market, while providing consumers with a viable means of using newly developed clean energy technologies.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.

Contact Information

  • Contact:
    For investor relations contact:
    Brad Novak
    Phone: 949-661-5780