Tuesday June 9, 11:42 am Eastern Time
Company Press Release
Solpower Negotiating to Acquire Rights To SP34E, An Ozone Safe, Drop-In Replacement Regfrigerant Gas
First Year Sales Estimated in Excess of $400 Million
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--June 9, 1998--Solpower Corp. Tuesday announced that it is in the final stages of negotiations to acquire the exclusive North American sales, distribution, marketing and manufacturing rights for SP34E refrigerant gas.
SP34E is an ozone safe, direct drop-in, replacement gas for R-12 and R-134a requiring no system modification or special handling equipment. It meets the year 2005 international, refrigerant gas replacement standards and is compatible for use with all R-12 and R-134a systems.
SP34E is currently being sold in Australia and in Japan where more than 60,000 vehicles and 50,000 other refrigerant equipment users have installed SP34E. The North American automotive air conditioning market alone contains an estimated 100 million vehicles using R-12 that will require service and refrigerant gas replacement during the next five years.
Based on a contract currently in discussion the North American sales of SP34E in the first year are estimated to be in excess of US$400 million. Details of the proposed acquisition will be announced as soon as negotiations are completed.
Solpower Corp. is dedicated to the profitable commercialization of environmentally friendly products and technologies. Soltron(TM), The enzyme that enhances fuel is currently being manufactured and distributed in North America by Solpower Corp.
The addition of SP34E to the product line will significantly enhance the company's ability to fulfil its corporate objective.
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Contact:
Solpower Corp., Scottsdale
Corporate Relations, 888/289-8866 or 602/947-6366
Fax: 602/947-6324
www.solpower.com
E-mail: info@solpower.com
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