Submitted by IMPCO Technologies, Inc.
IMPCO Technologies, Inc. (Nasdaq: IMCO) the world's leading source of advanced alternative fuel systems technology for internal combustion engines in the Industrial, Power Generation and Transportation markets, announced today that the company will deliver its first shipment of gaseous fuel systems to Honda India for use in Honda's EM-650 450 watt home electrical power generators. Honda sells nearly 100,000 generator units per year in India and commands major portion of the total market for these products, which is estimated to be in excess of US$100 million annually.
India has well over 1 billion inhabitants -- many of which living in regions that do not have a secure infrastructure of electricity or availability of traditional liquid fuels, but can readily obtain indigenous propane. Additionally, air quality concerns created from home cooking fires
can be significantly impacted using electricity generated by clean-burning propane.
IMPCO products allow internal combustion engines to operate using gaseous fuels.
Ms. Pearl Kamdar, Director of Asia Pacific Operations for IMPCO Technologies, Inc. said "IMPCO is particularly satisfied to have worked on the development of the propane powered generator with Honda and our Indian partner, Minda Industries, Ltd. Receipt of our first order to ship these
kits, is the result of our total engineering commitment to the Asian region and to Honda's efforts to improve the environment and quality of life. The growth of worldwide non-utility power generation is targeted to exceed US$16 billion per year by 2010. Many countries, both developed and developing are seeking sound alternatives to grid-based electricity, and personal power generation such as this Honda unit will be key to the solution."
Last year IMPCO established a joint venture with Minda Ltd. in Gurgaon, India which provided IMPCO with the marketing, sales and organizational talents necessary to successfully participate in the rapidly growing India marketplace, and further our dedication to the Asian region.
IMPCO is the world's leading source of advanced alternative fuel systems technology and components for internal combustion engines. IMPCO products enable these engines to function using environmentally friendly gaseous fuels such as propane, natural gas and biogas. Headquarters in Cerritos, California, the company has offices in Australia, Europe, India, Japan, Mexico and North America. Visit IMPCO on the web at http://www.impco.ws/us.htm
Certain matters discussed in this press release contain forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from current trends. These include, among other things, the growth of the alternative fuels market, the Company's ability to design and market viable advanced fuel metering, or electronic control products, and other such risks as cited in the Company's 2001 annual report on Form 10-K and other documents filed with the Securities and Exchange Commission.
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