EL SEGUNDO, Calif., Nov. 24, 2010 (GLOBE NEWSWIRE) -- European Investment Fund and Vision Industries (OTCBB:VIIC) of El Segundo, California, a leading developer and manufacturer of advanced zero emission hydrogen fuel cell hybrid electric commercial heavy-duty trucks, announced the completion of two rounds of convertible bond financings with a major European investment fund for a total of more than $1 Million. The financing was arraigned by Christian Kolster of C&M Capital Ab, Vision's European Financial Advisor. Mr. Kolster initiated and was the lead negotiator in the transaction for the company. Mr. Kolster states that he is excited with the company's near term prospects and is confident that this round of financing will enable the company to reach its next milestones. Vision's CEO and President, Martin Schuermann, further added that "over the last few years, European investors have demonstrated a strong desire to invest in alternative energy companies. The availability of capital, coupled with government mandates and incentives, have helped countries such as Germany to become the world leader in solar and wind energy production." Also, with the recently announced commitment by the German Government to hydrogen as a transportation fuel by 2015, Vision Industries' hydrogen fuel cell, heavy-duty commercial trucks appear to have caught the attention of investors in Europe.
About Vision Motor Corp
Vision Motor Corp (Vision) headquartered in El Segundo, California designs and manufactures advanced zero emission, hydrogen fuel cell hybrid electric drive, Class VIII heavy-duty commercial trucks. Vision provides cost effective, zero emission, vehicle solutions to help short-haul freight carriers meet local, state and federal air emission standards and also provide a vehicle that delivers a lower cost of operation which has a direct impact on freight carriers profit margins. The Company is traded on the OTCBB (VIIC.OB) as Vision Industries Corp, and is a SEC reporting company. For more information on Vision Industries Corp, please visit www.visionmotorcorp.com
A Company Snapshot of Vision Motor Corp can be found at:
The Vision Motor Corp logo is available at
Safe Harbor Statement
Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.
CONTACT: Vision Industries Corp Rudy Tapia, Vice-President of Business Development 1-877-340-8909 ext 203 Rudy@VisionMotorCorp.com Investor Relations Contact: Rusty Miller, Investor Relations Director 1-877-340-8909 Ext. 205 email@example.com