GeoBio Energy, Inc., a Colorado corporation (OTCQB:GBOE) ("GeoBio"), announced today that its wholly-owned subsidiary El Gas North America, LLC, a Washington limited liability company ("El Gas NA") anticipates placing its electronic gas volume corrector device for a field trial with one of the largest utilities in the United States. The utility, which is based in the south, has a market capitalization of approximately $8.5 Billion. El Gas NA expects the field trial to commence in approximately three weeks. By working with this utility, successfully completing a field trial phase, and delivering El Gas NA's technologically-advanced, valuable products, GeoBio will be able to expand the El Gas NA business by its selling instruments in the oil and gas industry.
Mark Cangany , President of El Gas NA explained, "We look forward to the imminent placement of our maxiELCOR device in a national utility. The maxiELCOR is the only electronic gas volume corrector available in the market that can stand alone in the field for up to 5 years and manage and report remotely specific activity related to the transfer and delivery of natural gas." Mr. Cangany added, "We expect the placement of our product with the utility to be a significant milestone in achieving industry acceptance and recognition of El Gas s.r.o.'s products in the United States. Assuming completion of a successful field trial phase, we anticipate the commencement of product sales and estimate receiving a couple hundred product orders shortly thereafter." Larry Shelver, CEO of GeoBio stated, "GeoBio is excited about the forthcoming opportunity to work with this utility and we believe it will contribute considerably towards the launching of sales of El Gas NA's products. We expect the southern region of the United States to be a critical market to commence product sales, which makes this opportunity highly important."
El Gas NA is a fully licensed and exclusive distributor of El Gas s.r.o's natural gas volume monitoring and correcting equipment and data recorder products in the territories including the United States, Canada, Mexico and the Caribbean Islands. El Gas NA's products include the (i) maxiDATCOM, a battery data reporting device with an integrated GSM/GPRS modem, (ii) miniELCOR, a battery powered gas electronic volume corrector and (iii) maxiELCOR, a battery powered gas electronic volume corrector with integrated GSM/GPRS modem. GeoBio anticipates that El Gas NA's products will enhance and add significant value to the oil and gas services industry, which is currently utilizing and relying on old, mechanical, circular reporters and instruments. El Gas NA offers integrated, robust and flexible technology, in which GeoBio expects will help improve market standards and contribute towards a more efficient and effective industry.
For more information regarding the El Gas NA product line, please contact firstname.lastname@example.org
About GeoBio Energy, Inc.:
GeoBio Energy's business model emphasizes the development, acquisition and operation of existing companies in the oil and gas services and energy related products industry. As oil and gas exploration continues in the face of ever rising demand, facilitating delivery of oil and gas, monitoring and maintaining drilling sites to obtaining peak efficiency and production from existing, new and aging wells becomes increasingly important. GeoBio believes this to be a significant growth opportunity in its strategy to combine and consolidate companies in the oil and natural gas services sector. GeoBio's subsidiary, El Gas North America, LLC, has an exclusive license to sell Czech Republic based ELGas s.r.o.'s natural gas electronic volume corrector (EVC) and electronic data recorder (EDR) products in the United States, Canada, Mexico and the Caribbean, which products provide for the efficient monitoring and delivery of natural gas to consumers. For more information, please visit GeoBio's web site: www.geobioinc.com
Safe Harbor Statement
This Press Release may contain forward-looking statements which can be generally identified as such because the context of the statement will include the words such as GBOE "expects," "should," "believes," "intends," "anticipates" or words of similar import. Such forward-looking statements are subject to certain risks and uncertainties including the financial performance of GBOE, which could cause actual results, performance or achievements of GBOE to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements.
This Press Release does not constitute or form any part of any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, nor shall it (or any part of it) or the fact of its distribution form the basis of, or be relied upon in connection with, or act as any inducement to enter into, any contract or commitment therefore.
"Forward-looking statements," as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GBOE disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Risks particularly associated with our current business include, but are not limited to the risks associated with our ability to (i) obtain the necessary financing to complete our prospective acquisitions and other targeted companies and to finance our current operations, (ii) generate sufficient revenue and obtain profitability, (iii) obtain additional financing as needed, (iv) manage changes in general economic and business conditions (both generally and in the natural gas and oil services and the energy industry), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) identify and manage risks in connection with acquisitions (viii) evaluate and effect the level of demand and market acceptance of our services and (ix) make necessary changes to our business strategies.
SOURCE GeoBio Energy, Inc.