eCarfly, Inc. is pleased to announce that the Alternative Fuels Company (AFC), will be showcasing the Co-Fueling Engine Technology to General Motors. The scheduled signing of the Letter of Intent to merge (LOI) remains on course for this afternoon's board meeting. Verbal confirmations have been given to eCarFly's CEO, Desmond Milligan, that the LOI will se signed according to plan without any need for provisions or extensions.
General Motors would be utilizing the Co-Fuelling Engine Technology to reduce emissions exhausted by their vehicles. The AFC's technology compromises the adaptation and modification of non-invasive components that make for simple and cost-effective installation to major manufactures like the General Motors Company. Through this technology, manufacturers like General MotorsS will be making a significant statement within their organization to join the attempt on reducing public pollution. A technology of this caliper will not only decrease the emissions of manufactured vehicles, but increase the creditability of each manufacturing company as well as add an additional product line to their offered fleets.
The current cost per acquiring the technology for one said unit is set to be around $4,000. With the dramatic number of vehicles produced by companies like General Motors, estimated revenues for these projects alone would be in the multi-hundred-million dollar range. Formal estimated revenues for this type of project and that of other internal showcases will be divulged after the LOI has been signed.
As stated in previous press releases, the disclosure of organization names will continue to be withheld until securing documents have been signed that allows eCarFly to publicly voice their merging partners. eCarFly has no intent to withhold any information regarding legal names of the merging company once specific documentation have been completed.
“We are exceptionally pleased with the receipt of this knowledge regarding General Motors. We feel that eCarFly remains on a correct path to recovery through the intended merger with the Alternative Fuels Company. With the AFC's tremendous revenue possibilities, this merger would transform eCarFly into an immediate revenue generating state and rapidly advance us to a very prominent position within the automobile industry. Although exact revenues have yet to be revealed, our research has shown an enormous amount of contractual ability by the AFC. As stated in prior press releases, the market activity for eCarFly has been positively reflected by the discussions of this merger. We feel that those figures will increase significantly once the release of a signed Letter of Intent takes place. The AFC holds a highly accredited name within its industry and we anticipate drastic market responses once that has been divulged. We will continue to release press to update our shareholders on the overall progress in this merger,” stated Desmond Milligan, CEO of eCarFly, Inc.
Via: BUSINESS WIRE