BLUE ASH, Ohio, Sept. 15, 2010 (GLOBE NEWSWIRE) -- AMP Holding Inc. (OTCBB:AMPD), a company engaged in the emission-free electrification of OEM vehicles, announced today it has been invited to be featured in a display of super fuel efficient vehicles, as part of the Progressive Insurance Automotive X PRIZE awards ceremony in Washington D.C., September 16, 2010.
Steve Burns, CEO of AMP, said, "From inception, the X PRIZE competition has been about developing real, production-capable cars that consumers will want to buy, not science projects or concept cars. This core principal resonated and truly inspired our progress - what we've learned throughout the nearly two years spent preparing for this competition has been invaluable. In fact, we've taken those lessons learned directly to the production floor, with our now production-ready 100% electric GM Equinox."
Ceremony attendees will have an opportunity to meet AMP's team members and view the 100% electric AMP vehicle, as well as other technologies that will shape the future of the automotive industry. AMP's vehicle was a finalist in the competition, and met nearly all of the competition's strict requirements, including the ability to achieve 100 miles per gallon or the energy equivalent. One of eight finalists in its category, the AMP entry was the only commercially-produced, non-concept vehicle in the finals to achieve this certification.
The X PRIZE awards ceremony will take place on September 16th at the Historical Society of Washington, D.C. In attendance will be various politicians and government officials. Also expected to be in attendance are representatives from the Department of Energy and Consumer Reports, both of which participated in the judging of qualifying rounds during the competition. In addition to the significant media attention surrounding the event, the National Geographic Channel will be airing a documentary on the competition titled "X PRIZE Cars: Accelerating the Future," at 9pm EDT on September 16th.
AMP was founded in 2007 by automotive industry veterans who have created several hi-tech companies. Currently, the AMP team is comprised of top engineers and business executives, as well as two key pioneers of GM's EV1 project. AMP's first models to all-electric were the GM Sky and the Pontiac Solstice, and most recently, the Chevrolet Equinox. Since its inception, AMP's unique electrification technology has proven to be an idea that has generated an extreme amount of interest, with inquiries coming from around the world. AMP will be electrifying a wide range of OEM vehicles and SUVs, and expects to announce new model additions in 2010. The Company expects its vehicle electrification technology will provide new solutions to America's energy demands.
To learn more, visit the AMP website at www.ampelectricvehicles.com.
Certain statements contained in this press release may constitute "forward-looking statements". Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website ( http://www.sec.gov ). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release.
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