O2Diesel Enters South American Market of Paraguay
January 14 2008 - 10:33AM
Marketwired
NEWARK, DE announced today that it has received approval from
the government of Paraguay, South America to market and distribute
the Company's proprietary fuel technology in the country. Initial
testing has commenced in conjunction with Copetrol SA, one of the
largest fuel distributors in the country. The implementation was
secured by O2Diesel Brazil in cooperation with the Company's
strategic partner Fair Energy SA of Geneva.
The key objectives of the initial 3-month testing period are to
test and validate the performance of O2Diesel(TM) clean fuel
technology in light and heavy duty diesel powered vehicles in the
capital city of Asuncion. It is anticipated that a broad commercial
scale expansion in the fleet will occur during the second quarter
2008 after the pilot is completed. Following completion of the test
period and initial deployment, the final objective will be to
initiate widespread regional use by the end of 2008.
Sr. Blas Zapag, Senior Director of Copetrol SA, commented, "We
are very excited to embrace O2Diesel's clean fuel technology in
Paraguay. We aim to be the leading distributor of O2Diesel(TM) and
at the forefront of the use of ecologically friendly fuels in South
America moving forward. O2Diesel's clean fuel has demonstrated
through vigorous tests to be a viable alternative fuel which can
make a significant contribution to cleaner air in the city of
Asuncion. The introduction of O2Diesel(TM) fuel in the transit
system should have a substantial impact on the reduction in
emissions and smoke from the vehicles operated by the various
government agencies, which could bring an immediate and much needed
improvement in air quality."
Sr. Claudio Hirsch, Director of Fair Energy, said, "The pilot in
Paraguay is the first major ethanol-diesel fuel project promoted by
Fair Energy in South America. We are convinced that O2Diesel fuel
has large potential in the region and Fair Energy is already
preparing the product for large scale launch in Colombia."
"The opportunity in Paraguay further enhances our commitment to
strengthening our strategic partnerships in developing economies,"
stated Alan Rae, CEO of O2Diesel Corporation. "As in India and
other markets we are developing in Asia, Paraguay has substantial
air quality issues that continue to increase as the country rapidly
develops and expands economically. They need an immediate solution
that will not require a massive capital investment in new
infrastructure and equipment and, as we have now proven in several
markets, O2Diesel(TM) provides that solution. Additionally, they
are net importers of diesel fuel and have access to competitively
priced ethanol production from Brazil, which augments this supply.
The O2Diesel solution fits their requirement from both an
environmental and economic standpoint. Our partner in this region,
Fair Energy, shares our belief that these same environmental and
economic drivers will open the door to other markets in the Central
and South American markets."
More about O2Diesel: The Company and Its Fuel Technology
O2Diesel Corporation (AMEX: OTD) and its U.S. subsidiary
O2Diesel, Inc. is a pioneer in the commercial development of a
cleaner-burning diesel fuel alternative that provides exceptional
performance and environmental qualities for centrally fueled fleets
and off-road equipment of all kinds. Engineered and designed for
universal application, O2Diesel(TM) is an ethanol-diesel blend that
substantially reduces harmful emissions without sacrificing power
and performance. Extensive independent and government-recognized
laboratory and in-use field tests have demonstrated the
effectiveness of O2Diesel(TM) -- the introduction of this
cost-effective, cleaner-burning diesel fuel is now underway in the
United States and other global markets. For more information please
refer to www.o2diesel.com.
Forward-Looking Statements
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release regarding
O2Diesel Corporation's business which are not historical facts are
'forward-looking statements' that involve risks and uncertainties.
Forward-looking statements are subject to a variety of risks and
uncertainties which could cause actual events or results to differ
from those reflected in the forward-looking statements, including,
without limitation, the failure to obtain adequate financing on a
timely basis and other risks and uncertainties. Actual results
could differ materially from those projected in the forward-looking
statements, as a result of either the matters set forth or
incorporated in this report generally or certain economic and
business factors, some of which may be beyond the control of
O2Diesel. These factors include adverse economic conditions, entry
of new and stronger competitors, inadequate capital, unexpected
costs, failure to gain product approval in the United States or
foreign countries for the commercialization and distribution of our
products, failure to capitalize upon access to new markets and
failure in obtaining the quality and quantity of ethanol necessary
to produce our product at competitive prices. O2Diesel disclaims
any obligation subsequently to revise any forward-looking
statements to reflect events or circumstances after the date of
such statements or to reflect the occurrence of anticipated or
unanticipated events. "O2Diesel" and "CityHome" are trademarks of
O2Diesel Corporation.
Contact: O2Diesel Corporation Alan Rae +1 (302) 266 6000
Insignia Dan Wuekel +1 (818) 899 0128
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