NEW YORK and HARBIN, China, Sept. 20, 2010 (GLOBE NEWSWIRE) -- American Jianye Greentech Holdings, Ltd. (OTCBB:AJGH), a leading developer, manufacturer and distributor of alcohol-based automobile fuel and civil-use fuel in China, including the production of methanol, ethanol, and blended fuels, today announced it has submitted a plan to the Harbin Department of Transportation for promoting clean fuel among taxi and bus companies.
Mr. Haipeng Wang, Chairman and Chief Executive Officer, commented, "We are pleased to announce that, in response to a specific request from the Harbin Department of Transportation, we submitted a plan to reduce local pollution through the promotion of our clean fuel products. We are honored that the government trusts us to spearhead this clean fuel initiative and explore supplying our high-quality clean fuels to Harbin-based businesses."
Mr. Wang continued, "We intend to work closely with the Harbin government since most local bus and taxi companies are either state-owned enterprises or otherwise under close government oversight. If the government agrees to move forward on this plan, our Company will simultaneously help the city achieve its greenhouse gas reduction targets while also gaining a highly stable sales channel for our products. We believe the government should mandate the use of our clean fuels since our proprietary, patented catalysts provide these fuels with environmental and cost-saving advantages over competing products. Needless to say, if the government agrees to make our clean fuel mandatory for local bus and taxi companies, we expect to gain substantial market share."
About American Jianye Greentech Holdings
American Jianye Greentech Holdings, headquartered in Harbin, China, is a leading developer, manufacturer and distributor of alcohol-based fuel. The company's alcohol-based fuels burn with higher efficiency and significantly lower toxic waste emissions than unleaded gasoline. The unique combination of catalysts in the fuel enhance fuel octane rating and engine power, inhibit the premature oxidation of the fuel, help remove sediment in the carburetor, and prevent the erosion of the engine cylinder surface. Additional information about the company is available at: .
This press release contains certain "forward-looking statements" relating to the business of the Company. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( www.sec.gov ). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
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