ATLANTA, April 19, 2006 (PRIMEZONE) -- U.S. Energy Initiatives Corporation (OTCBB:HYFS) announced that the company is now profiled on Market-Pulse.com. U.S. Energy Initiatives Corporation manufactures and markets retrofit systems for the conversion of gasoline and diesel engines, stationary or vehicular, to non-petroleum based fuels such as compressed natural gas and liquefied natural gas. The company's technology is embodied in five issued and one pending U.S. patent. Since 1998, U.S. Energy has dedicated its research and development exclusively to conversion systems for diesel-powered engines. Market Pulse's profile focuses on U.S. Energy's patented dual-fuel diesel to natural gas conversion technology, the markets, management, recent developments and the future. Individuals interested in more information on the company can view the profile at http://www.market-pulse.com/hyfsprofile.htm.
The company's marketing strategy is to deliver its dual-fuel technology to the consumer principally through original equipment manufacturers and to a lesser extent, directly to fleets or governmental entities. The company's current clients include General Motors, United Parcel Service, US Postal Service; Dallas County School System, Portland, Oregon School System; Oklahoma Natural Gas and a host of private purchasers.
HYFS recently announced revenues of $652,400 and loss from operations of $(3,384,312) for the year ended December 31, 2005, as compared to revenues of $138,724 and a loss from operations of $(2,033,709) for the same period ended December 31, 2004. "Our revenues at the year end 2005 were greater than our revenues for the three previous years combined," said U.S. Energy CEO Mark Clancy.
According to Bernard R. Schmitt, CEO of Market Pulse, "We are very excited to introduce U.S. Energy Initiatives Corporation to the investment community. U.S. Energy has made excellent fundamental strides over the last few months. HYFS is potentially poised to become a significant player in the energy/alternative energy industry." Bernard Schmitt also noted that, "The interest in natural gas as an alternative fuel stems mainly from its clean burning qualities, its domestic resource base, and its commercial availability to end users. This little known company could be the next discovered gem in this industry."
Worldwide, there is a significant price differential between diesel and natural gas typically resulting in a 12 month or less return on investment. The company's initial commercialized application is a retrofit device to convert medium and heavy duty engines to operate in a dual-fuel 70% natural gas and 30% diesel mode. A new generation of management has transformed HYFS from a developmental-stage company with proprietary products for duel fuel conversion in various steps of development to a company with the ability to deliver these products worldwide.
U.S. Energy CEO Mark Clancy commented, "Our core business remains the delivery of our patent dual fuel technology. To compliment the sale of our technology, we launched the biofuels division with a mandate to produce a biodiesel with zero emissions that is 100% made in America. We pledge to avoid using foreign sources either for our feedstocks or the production of our biofuels. If we are successful in that effort, we anticipate combining the sale of our biofuel with our conversion system offering end users an economical option with a powerful environmental benefit. We also announced that with the completion of our development facility/emissions lab in PeachTree City, Georgia, we now have the resources to incubate promising new energy related technologies. We believe this three-pronged approach works to expand our revenue model and allows us to remain in the forefront of new and promising energy technologies."
About US Energy Initiatives Corporation (OTCBB:HYFS): Formed in 1996, delivers its patent dual-fuel diesel to natural gas conversion technology and resells a portfolio of gasoline to natural gas and propane conversion systems through both Company-owned and franchised service centers in twelve states and directly to domestic and international original equipment manufacturers. The Company's primary facility is a 12,000 square foot state-of-the-art systems development and emission testing lab in Atlanta, Georgia. The Company's current clients include General Motors, United Parcel Service, U.S. Postal Service; Dallas County School System, Portland, Oregon School System; Oklahoma Natural Gas and a host of private purchasers.
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