ORLANDO, Fla., March 5, 2010 (GLOBE NEWSWIRE) -- General Automotive Company (OTCBB:GNAU), a North American provider of aftermarket parts and advanced technology for the automotive industry, today announced a revised joint venture with SenCer Inc. to develop, commercialize and market SenCer's groundbreaking UltraTemp™ ceramic composite materials for accelerating the development of energy-efficient, environmentally friendly fuel cell technologies. The joint venture, now called Green Cell, Inc., will also advance the development of next-generation oxygen sensors and igniters
A Rochester, NY-based research firm known for its engineering expertise in advanced ceramic systems, SenCer Inc. has developed a series of next-generation ceramic fiber/ceramic matrix composite materials with a wide variety of applications, including fuel cell for powering automotive engines. The goal of the joint venture will be to develop a series of prototypes that will significantly advance the process of commercializing and, ultimately, mass producing fuel cells, oxygen sensors, igniters, as well as other products.
Dan Valladao, president and CEO of General Automotive, said: "This Joint Venture could be a real game changer for many products within the automotive industry including fuel cells, brakes, and oxygen sensors. We are very excited about GreenCell and its extraordinary potential."
About General Automotive Company
General Automotive Company ("GAC") is focused on expanding its operating growth platform through multiple and ongoing acquisitions of successful niche manufacturing companies in the automotive industry. Currently General Automotive has 2 operating subsidiaries. OE Source ("OES") is a provider of original equipment and aftermarket automotive parts and related automotive products. Their customers include large, multi-national distributors, manufacturers, and OEM providers. OES specializes in engine management products such as O2 sensors, which is a rapidly growing and government mandated segment of the auto supply industry. General Automotive is also a partner in GreenCell Inc., a joint venture with SenCer Inc., a New York based ceramic technology company. GreenCell, with its new advanced ceramics proprietary technology, can be a potential game changer in multiple automotive products including oxygen sensors, brakes and SOFC fuel cells for powering automobiles.
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About SenCer Inc.
Established in 1996, SenCer Inc. is a technology research firm that has developed a ceramic composite material, UltraTemp™, with remarkable thermal properties and bonding capabilities. The new technology has applications in oxygen sensing (automotive and medical markets); oxygen generation (aluminum -- inert anodes, gas generation, medical); and power generation (fuel cell technology). SenCer has been a behind-the-scenes player in many developments using ceramic composites. It maintains a 20,000 square foot manufacturing facility in Penn Yan, NY.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward looking statements. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.