PENN YAN, N.Y., Feb. 7, 2012 (GLOBE NEWSWIRE) -- GreenCell Inc. (OTCBB:GCLL) has begun parallel development on a new type of automotive oxygen sensor that is non-precious metal based. The units should give higher response to the automotive computer (ECM). Based upon the UltraTemp-C formulations and some recent work on a new cathode and anode, the device can be manufactured at a reduced cost over conventional O2 sensors. Prototypes of the units are currently being fabricated and are being compared to conventional sensors. This work is preliminary to an UltraTemp-C based fuel cell constructed from the same technology. Visit the GreenCell website to learn more about our company at www.greencellinc.com
The GreenCell, Incorporated logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11206
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the Company's current plans and expectations, as well as future results of operations and financial condition. Specifically, the Company's ability to raise additional capital, execute its business plan and strategy, sustain or increase gross margins, achieve profitability and build shareholder value are forward-looking statements. A more extensive listing of risks and factors that may affect the Company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the Company with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.