Company Announcement : Turbodyne Enters Into Waste Industry Relationship
Woodland Hills, CA - September 7, 1998 -- Turbodyne Technologies Inc. (NASDAQ: TRBD, EASDAQ: TRBD), today announced initiation of a business relationship with a waste management company that serves Santa Barbara County in California, USA.
The California Environmental Protection Agency's Air Resources Board (CARB) recently established two air quality improvement programs: the Periodic Smoke Inspection Program and the more stringent Roadside Smoke Inspection Program for diesel trucks and buses, which will result in fines up to US $2600.00 for noncompliance with smoke standards. Subsequently, Turbodyne has stepped-up its aggressive distribution and installation program for heavy-duty vehicles in California.
According to CARB, California's diesel vehicle population of about 620,000 contributes 65% of the state's total emissions of particulate matter, or PM10, which is commonly observed as black smoke.
On August 28, 1998, CARB identified particulate matter emissions from diesel-fueled engines as a toxic air contaminant. The next week, Turbodyne contracted to install its Turbopac~ model 2500 on garbage trucks owned and operated by Santa Barbara County's leading waste management company under a pilot program.
"Garbage trucks drive through residential areas, making the waste industry very visible," said Turbodyne's Chairman Edward Halimi. "CARB's ruling was the final point to convince the waste management company to act immediately. Now they will have the distinction of being the first such fleet in California to comply with the state's regulations. I am convinced the others will have to soon follow."
Turbodyne is targeting the heavy-duty diesel vehicle market in California under several sales and distribution programs. The average sales price per vehicle for a Turbodyne kit is US $6500.00. Turbodyne provides consumer financing for its customers through the newly established Turbodyne Credit Corporation.
Turbodyne designs, develops, manufactures, and markets patented pollution-reduction, fuel economy and performance enhancing products for internal combustion engines in the automotive, transportation, construction, marine, agriculture, mining, military and power generation industries. Offices and plants are located in Carpinteria, La Mirada, Encinitas and Woodland Hills, CA; Ensenada and Mexico City, Mexico; Vancouver, Canada; Northants, England; Paris, France and Frankfurt, Germany.
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