TORONTO, Oct. 29 /CNW/ - Mr. Ervin Weisz, President and CEO of CVET POWER
CORP. is pleased to announce that the company is pursuing additional strategic
alliance partnerships for the production of its Continuously Variable
Electronic Transmission (CVET) for automotive applications.
Mr. Weisz explained that "CVET POWER CORP. intends to expand production
capacity through alliance partnerships with companies that are existing volume
suppliers to the automotive industry. The CVET will offer a high growth
business opportunity with low barrier to entry for its production as CVET
components can be manufactured with existing production techniques."
Mr. Weisz concluded by saying that "I believe that the CVET provides a
timely opportunity for our company and our alliance partners to expand market
share and increase revenue by offering what the automotive consumers want;
energy efficiency with green technology."
About CVET POWER CORP.
CVET POWER CORP. is commercializing a revolutionary new and patented
technology for its Continuously Variable Electronic Transmission (CVET) with
benefits that have the potential to redefine the transportation industry. The
CVET technology enables an engine to run at the optimal speed which provides
the highest fuel efficiency and the lowest toxic emissions under both city and
highway driving conditions. The CVET transfers power from the engine to the
wheels at varying speeds while consuming negligible power on its own operation
and may be used with conventional internal combustion engine, hybrid, fuel
cell and electric powered vehicles.
For additional information, please visit www.cvetpower.com.
Forward Looking Statements:
The foregoing press release contains forward-looking statements including
those related to the development of markets, expected business prospects,
future market and revenue potential, improvements in technology, customer and
supplier relationships, financial prospects; all of which are subject to
important risks and uncertainties. Actual results could differ materially from
those projected as a result of these risks and should not be relied upon as a
prediction of future events. Factors which could cause results or events to
differ from current expectations include, but are not limited to, the
availability of funding, existing and future relationships with suppliers and
customers, the results of commercial and technical development activities,
technological risk and uncertainty, general industry and market conditions,
availability of qualified personnel, and reliance on industry partners. CVET
POWER CORP. undertakes no obligation to update any forward-looking statement
to reflect events or circumstances after the date on which such statement is
made, or to reflect the occurrence of unanticipated events.
For further information:
For further information: Ervin Weisz, President & CEO, CVET POWER CORP.,
1271 Denison Street, Markham, Ontario, (905) 470-2900 ext. 101.