HAMMOND, Ind., April 13, 2016 (GLOBE NEWSWIRE) -- HydroPhi Technologies Group, Inc. (OTC:HPTG) and its wholly owned subsidiary, Pro Star Freight Systems, Inc. (“Pro Star”) (collectively the “Company”) announced today that Nikola Zaric, founder of Pro Star Freight Systems, Inc. has been appointed Chief Executive Officer of HydroPhi Technologies Group, Inc., effective immediately. Former CEO Roger Slotkin will remain involved with the Company in an advisory capacity.
“I am honored to have been appointed HydroPhi Technologies’ new Chief Executive Officer. It is a privilege to be a part of an organization that delivers high quality long-haul freight services and innovative solutions to such high caliber customers,” said Nikola Zaric. “Pro Star and HydroPhi are growing together as we work tirelessly to ensure that the Company operates from a place of balance and strength. I am confident both in my ability to lead our capable management team, and in Pro Star’s ability to continue to mature into a highly competitive transportation and logistics enterprise going forward.”
“Roger Slotkin has set a precedent for participative leadership that I look forward to emulating in my new role as CEO,” added Nikola Zaric. “I believe I speak for the entirety of the combined HydroPhi and Pro Star team when I thank Roger for his commitment to the Company’s vision and all of his employees. I am thrilled that he will remain involved, and I have no doubt that he will prove invaluable in an advisory capacity.”
Roger Slotkin commented, “I am thankful for the experiences I have had as Chief Executive Officer of HydroPhi Technologies Group and place my full faith in Mr. Zaric’s abilities. I look forward to remaining involved with the Company and assisting, in any way that I can, with the furthering of HydroPhi and Pro Star’s reach in the continental United States.”
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About Pro Star Freight Systems, Inc.
Pro Star is a Mid-Western based, long haul freight transportation company serving the continental United States. With dispatch operations in Bensenville, Illinois, Belgrade, Serbia and Niš, Serbia, and truck service centers in Indiana and Illinois, the company services and manages a fleet of more than 150 trucks.
About HydroPhi
HydroPhi Technologies Group, Inc. (HPTG) is a developer of water-based hydrogen fuel production systems. The Company's technology isn't a fuel cell, nor is it a hydrogen alternative to traditional hydrocarbon fuels. The system utilizes distilled water for the production of hydrogen and oxygen, which is then injected into the air intake of an engine utilizing carbon-based fuels such as diesel, unleaded gasoline and natural gas. HPTG's technology, (HydroPlant™) has been company tested with resulting reduced vehicle operating costs by improved fuel efficiency up to 20%, while lowering greenhouse gas emissions up to 70%. By using an on-board, on-demand electrolysis system to separate hydrogen and oxygen from water, the technology eliminates the need for high-pressure hydrogen storage or hazardous chemicals while producing a stable, inexpensive alternative fuel source. By offering a real-time monitoring system as part of a hydrogen fuel solution with retrofit capability into standard vehicle engines, HPTG provides fuel efficiency to a potentially broad spectrum of users, including logistics, trucking, heavy equipment, marine and agriculture. Additional information about the Company and the technology is available at: www.hydrophi.com.
Forward-looking Statements
The above news release contains forward-looking statements. The statements contained in this document that are not statements of historical fact, including but not limited to, statements identified by the use of terms such as "anticipate," "appear," "believe," "could," "estimate," "expect," "hope," "indicate," "intend," "likely," "may," "might," "plan," "potential," "project," "seek," "should," "will," "would," and other variations or negative expressions of these terms, including statements related to expected market trends and the Company's performance, are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and involve a number of risks and uncertainties. These statements are based on assumptions that management believes are reasonable based on currently available information, and include statements regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performances, and are subject to a wide range of external factors, uncertainties, business risks, and other risks identified in filings made by the company with the Securities and Exchange Commission. Actual results may differ materially from those indicated by such forward-looking statements. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based except as required by applicable law and regulations.