DETROIT, July 15, 2009 (GLOBE NEWSWIRE) -- Energy 1 Corporation (Pink Sheets:EGOC) announced today that it has signed a development agreement with Nemo Motors Inc. (Pink Sheets:NMOC)
According to the Development Agreement, the Nemo Motors Inc. will integrate the Energy 1 electrical technology to power one of its Nemo utility trucks and perform the testing required for its release to market.
"Nemo Motors is the ideal company to test our technology for several reasons. One, they have sold a considerable number of units of their utility trucks thus far. And two, the heavy rigors and use that municipalities and institutions, Nemo's target market, put their utility vehicle fleets through will be a great test of our product," said Robert Wilson, President of Energy 1 Corp. "If our technology can increase the power, autonomy, and reliability of existing systems, we are all winners," further added Mr. Wilson.
About Nemo Motors Inc.
Nemo Motors is a manufacturer of electric utility vehicles with a current assembly line capacity of 10,000 vehicles per year. Nemo Motors has a strong, competent and specialized team of 18 professionals in the areas of production, engineering, marketing and customer service. Part of the company's strength is in its solid network of suppliers in Canada, the U.S. and Europe.
About Energy 1 Corporation
Energy 1 Corporation is a U.S.-based Energy Research and Development Corporation which is developing a long-life energy generator and storage systems for residential, commercial and transportation industry.
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