LAS VEGAS, Sept. 30, 2015 (GLOBE NEWSWIRE) -- via PRWEB - Las Vegas, Nevada (PRWEB) September 30, 2015 - Michael Hu, President of 2050 Motors, Inc. (OTCQB: ETFM) and his scientific team have just returned from China where they witnessed a demonstration of the fueling and running of a 2014 Honda Fit with the new Hydrogen-Rich Alcohol/Water System (HRAS). A video of the demonstration can be seen at http://youtu.be/xOFwRTLftZY. The video also shows the successful commercial operation of a taxi fleet in China using a HRAS.
In a press release issued on August 3, 2015 titled "2050 Motors, Inc. to Introduce Hydrogen-Rich Alcohol Fuel Engines to the United States", 2050 Motors unveiled a detailed history and specifications of the new HRAS technology. Namely, the fuel is a mixture of clean burning methanol (alcohol) mixed with water typically in a ratio of 70% methanol and 30% water. The fuel is partially converted into hydrogen utilizing a proprietary on board catalyst without the use of electricity.
Mr. Hu stated, "Please note, the video shows the placement of the small three liter hydrogen storage tank in the trunk of the Honda Fit. The hydrogen fuel starts the engine which switches over to the HRAS fuel. The small hydrogen tank is refilled on board, in the trunk, by the vehicle's hydrogen production system for the next engine start-up. This stored hydrogen fuel is especially useful in cold weather starting. In normal engine operation hydrogen, methanol and water are fed to the engine for a clean combustion, high efficiency with low emissions."
2050 Motors has scheduled the testing and demonstration of the HRAS technology in the United States, see press release dated August 3, 2015 for details.
Mr. Hu further stated, "Our stockholders should understand that 2050 Motors is much more than just an electric car company. 2050 Motors is actively involved with other high-tech companies throughout the world to secure cutting edge technologies for our company. These technologies include carbon fiber automobiles; advanced clean renewable fuels such as our HRAS technology; low cost graphene production for lithium batteries and other industrial applications; high efficiency engines and other intellectual property. Furthermore, many of these technologies reach far beyond the auto industry, including aircraft and industrial applications."
Mr. Hu also announced, "We expect arrival of the super-light-weight all carbon fiber electric automobile e-GO EV demonstration model soon. After long delays for design improvements to meet the 2017 US DOT requirements the e-GO EV is being shipped by Aoxin Automobile, our Chinese production partner, sometime in November 2015."
2050 Motors will schedule a high profile press conference in Las Vegas to showcase the vehicles upon their arrival. This press conference will include e-GO's Big Brother, the Ibis Carbon Fiber Luxury Touring Sedan. Photos of these two amazing vehicles at the November 2014 Shanghai Auto Show can be seen on the website where they were featured in many Chinese media news articles and on National CCTV which covers all of China.
About 2050 Motors, Inc.
2050 Motors, Inc., 2050motors.com and etfm.com, is a publicly traded company incorporated in Nevada in 2012. 2050 Motors was founded to import, market, and sell electric and gas powered carbon fiber vehicles engineered and designed in Italy and China. 2050 Motors also has the rights to assemble these vehicles in the United States as a future enterprise. 2050 Motors has entered into an agreement with Jiangsu Aoxin New Energy Automobile Co., Ltd., located in Jiangsu, China, for the distribution in the United States of a new electric automobile, known as the e-GO EV (electric vehicle). The e-GO EV is a revolutionary new concept in the ever evolving world of electric vehicles. It will be the only production line electric car with a carbon fiber body and parts manufactured by a new process using robotic machines which significantly reduces the fabrication time and cost of carbon fiber components. The e-GO EV will seat five passengers, have a long battery life, and high energy efficiency rating up to 150+ MPG-E energy equivalent in urban driving due to the light weight of the vehicle. The company is fully reporting under the SEC EDGAR system.
Disclosure Statement
Statements in this press release about our future expectations, including without limitation, the likelihood that 2050 Motors will be able to leverage capital markets to execute its growth strategy, meet US DOT requirements, meet minimum sales expectations, will be successful and profitable in the US market, and will bring significant value to 2050 Motors' stockholders, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and our actual results could differ materially from expected results. The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.
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