EVCARCO (OTC.BB:EVCA) is pioneering a new way to meet the demands of 21st century car buyers. EVCARCO is bringing to market eco-friendly vehicles with an emphasis on performance and affordability and the latest in developed technology. The board of EVCARCO is pleased to announce that, pursuant to a strong demand from the US Federal Government to meet environmental standards in relation to its Federal Military fleet, EVCARCO will be working with VENTA Inc. and several third party organizations to create Military grade AEV and Hybrid Diesel Electric units.
Scott O’Neal, Chief Operation Officer, stated, “We feel that working in conjunction with our corporate sales and commercial fleet division, the addition of a high revenue entity aimed at Military contracting is a significant move for EVCARCO and the corporate vision.”
EVCARCO has been working on projects with the US Federal Government as announced in previous releases since first quarter of 2010; the trials have given the management of EVCARCO insight into the needs and requirements of the Federal Government and, with this knowledge, the corporation stands at a significant advantage in respect to sourcing specific AEV and Hybrid Units for the Military.
The US Military through TARDEC has set a strong precedent relating to adoption of Alternative energy units into the US Military. TARDEC is the U.S. Army’s lead organization for ground vehicle systems integration, engineering and technology development.
Initial development of units will be entered into testing phase by late 2010 with “Real World” Government testing anticipated for early 2011.
AFVs are vehicles that operate on alternative fuels, such as methanol, ethanol, compressed natural gas, liquefied petroleum gas, or electricity, as designated by the U.S. Department of Energy. Some AFVs that can run on conventional fuels like gasoline, as well as alternative fuels, are called dual-fueled vehicles.
Express-1 Expedited Solutions, Inc. (AMEX:XPO) recently reported its earnings for the second quarter ended June 30, 2010.
For the quarter, revenue from continuing operations increased by 81% to $40.3 million compared to $22.2 million in the second quarter of 2009. Additionally, year over year revenues increased by 70.1% to $72.0 million compared to $42.3 million in the initial six months of 2009.
For the quarter, net income improved by $1.2 million to $1.5 million, or $.05 per fully diluted share compared to income of $288,000 in the second quarter of 2009. Year to date net income improved by $2.0 million to $2.3 million or $.07 per fully diluted share compared to net income of $293,000 in the comparable period in 2009.
Express-1 Expedited Solutions, Inc. is a non-asset based services organization focused on premium transportation through its business units, Express-1, Inc. (Buchanan, Michigan), Concert Group Logistics, Inc. (CGL) (Downers Grove, Illinois), and Bounce Logistics, Inc. (South Bend, Indiana). These business units are focused on premium services that include same-day, time-sensitive transportation and domestic and international freight forwarding. Serving more than 4,000 customers, the Company�s premium transportation offerings are provided through one of five operations centers; Buchanan, Michigan; South Bend, Indiana; Downers Grove, Illinois; Rochester Hills, Michigan and Tampa, Florida.
Oilsands Quest Inc. (NYSE Amex: BQI) is initiating a process to divest its Eagles Nest oil sands lease and Pasquia Hills oil shale permits, following a determination by the Board of Directors that these assets are non-core. As previously announced, Oilsands Quest has retained TD Securities Inc. to assist the Company in reviewing strategic alternatives and the sale process for these non-core assets is an important initial step in that review. Both Eagles Nest and Pasquia Hills are outside the Company’s primary project and discovery areas of Axe Lake, Wallace Creek and Raven Ridge.
The Eagles Nest oil sands lease covers 22,773 acres (9,216 hectares) in the Athabasca oil sands region northwest of Fort McMurray, Alberta. The property is geographically distant from Oilsands Quest’s other oil sands discoveries and largely unexplored. According to McDaniel and Associates Consultants Ltd., the Company’s 100 per cent interest in Eagles Nest contains 367 million barrels of discovered bitumen initially in place and 1,573 million barrels of undiscovered bitumen initially in place. Details of this resource estimate were previously disclosed by the Company in a release dated July 7, 2010, and in related filings on SEDAR.
The Pasquia Hills oil shale properties consist of several permits covering 489,730 acres (198,187 hectares) in southeast Saskatchewan, in which the Company holds a 100 per cent interest. In 2008 and 2009, Oilsands Quest conducted small exploration programs by drilling 23 exploration holes on the properties, 20 of which intersected oil shale. An independent evaluation by Norwest Corporation, with an effective date of September 15, 2010, determined that the area covered by these permits contains 19.3 billion barrels of discovered petroleum initially in place and 4.8 billion barrels of undiscovered using a grade cut-off of 20 liters per tonne.
Oilsands Quest has recognized for some time that retaining and developing the Pasquia Hills oil shale deposits over the remaining permit life would require considerable time, effort and financial resources at the same time that the Company was in the process of exploring and developing its significant portfolio of oil sands assets.
Orion Energy Systems Inc. (NYSE Amex:OESX) is a leading power technology enterprise that designs, manufactures and deploys energy management systems, consisting primarily of high-performance, energy-efficient lighting platforms, intelligent wireless control systems and direct renewable solar technology for commercial and industrial customers without compromising their operations.
Chrysler Group, LLC was recognized recently with the Orion Environmental Stewardship Award for the auto giant’s dedication to protecting the health of their communities, natural resources and the global environment.
In addition to developing green products as part of their SmartWay Vehicle Certification program, and their work to develop alternative fuel vehicles, Chrysler is in the process of completing energy efficient lighting retrofit projects that will decrease their electricity consumption by 2.9 million kilowatt-hours a year at their GEMA Engine Plant in Dundee, Mich. and the Mt. Elliott Tool and Die Facility in Detroit, Mich. As a result, Chrysler will reduce 38,500 tons of greenhouse gasses throughout the life of the system including carbon dioxide, sulfur dioxide, nitrogen oxides and mercury, which are all byproducts of electricity generation.
The energy efficient lighting was designed and manufactured by Orion Energy Systems, a Manitowoc, Wisconsin-based power technology enterprise that designs, manufactures and deploys energy efficient and renewable technology for commercial and industrial companies, and supplied by McNaughton-McKay Electric Company based in Madison Heights, Michigan.
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