ARDEN, N.C., May 25, 2011 (GLOBE NEWSWIRE) -- WatchIt Technologies Inc. (Pink Sheets:WTCT) stated today that the company has had renewed communications with a large military sub contractor for a specialized version of the Diesel "Fuel Reformer." According to the company, the interest in a modified diesel version of its patent pending fuel savings device coincides with our plans simultaneously test and validate the gas and diesel versions.
According to a company spokesperson, "We in no way intend to reduce or slow our efforts with the gas version of the fuel savings device, but rather we are going to take advantage of a potential opportunity that has been laid at our feet. With the possibility of a potential customer for our fuel savings device right of the gate, the company felt that the additional work load was more than worth the effort."
Having both a gas and diesel version of the fuel savings device opens up a variety of markets that the gas version alone does not affect. The most obvious, besides the military is the over the road trucking industry. With diesel fuel prices topping out at near $4.30 per gallon and higher, the introduction of the fuel savings technology could have a major impact on our defense budget as well as the cost of goods and services.
Follow us on Twitter: twitter.com/watchittech
About WatchIt Technologies Inc.:
WatchIt Technologies is an "incubator" for emerging "Green Technology" corporations. Its focus is on strategies that are structured to mitigate risk and produce returns to investors.
Safe Harbor Act: Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.
CONTACT: Investor Relations 1-828-483-4131 Source: WatchIt Technologies Inc. Website: www.watchittech.com