EL SEGUNDO, Calif., Nov. 24, 2010 (GLOBE NEWSWIRE) -- European Investment Fund and Vision Industries (OTCBB:VIIC) of El Segundo, California, a leading developer and manufacturer of advanced zero emission hydrogen fuel cell hybrid electric commercial heavy-duty trucks, announced the completion of two rounds of convertible bond financings with a major European investment fund for a total of more than $1 Million. The financing was arraigned by Christian Kolster of C&M Capital Ab, Vision's European Financial Advisor. Mr. Kolster initiated and was the lead negotiator in the transaction for the company. Mr. Kolster states that he is excited with the company's near term prospects and is confident that this round of financing will enable the company to reach its next milestones. Vision's CEO and President, Martin Schuermann, further added that "over the last few years, European investors have demonstrated a strong desire to invest in alternative energy companies. The availability of capital, coupled with government mandates and incentives, have helped countries such as Germany to become the world leader in solar and wind energy production." Also, with the recently announced commitment by the German Government to hydrogen as a transportation fuel by 2015, Vision Industries' hydrogen fuel cell, heavy-duty commercial trucks appear to have caught the attention of investors in Europe.
About Vision Motor Corp
Vision Motor Corp (Vision) headquartered in El Segundo, California designs and manufactures advanced zero emission, hydrogen fuel cell hybrid electric drive, Class VIII heavy-duty commercial trucks. Vision provides cost effective, zero emission, vehicle solutions to help short-haul freight carriers meet local, state and federal air emission standards and also provide a vehicle that delivers a lower cost of operation which has a direct impact on freight carriers profit margins. The Company is traded on the OTCBB (VIIC.OB) as Vision Industries Corp, and is a SEC reporting company. For more information on Vision Industries Corp, please visit www.globenewswire.com/newsroom/ctr%3Fd=207167%26l=5%26a=www.visionmotorcorp.com%26u=http%253A%252F%252Fwww.visionmotorcorp.com" target="_top" rel="nofollow">www.visionmotorcorp.com
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