Jun. 7, 2011 (Filing Services Canada) -- Sparta Capital Ltd. (SAY - TSX Venture), Addeco Technologies, a division of Sparta Capital Ltd. ("TSX - SAY") announces the USA transport industry launch of its new AddecoTech SS10L, the truck mounted fully automated fuel additive injector system. The launch, held at the Las Vegas Convention Centre, is the culmination of 18 months of product development and on road performance verification.
Major multi-national corporations manufacture and supply fuel additives to generate benefits in improved engine performance, emissions reduction, improved fuel economy and reduced engine wear. Supplemental fuel additives have been primarily adopted in bulk fuel delivery application; however not all vehicle fleets are filled from bulk fuelling locations. Fleet operators with trucks that fill at retail locations have been telling fuel additive suppliers for many years that the old process of manually pouring small amounts of fuel additive into the fuel tank with each fill, is a complicated process of mixing ratio calculations, measurements and pouring the additive into each of up to four fuel tanks, a process that simply cannot be relied upon to be performed consistently across a fleet.
The AddecoTech SS10L automated fuel additive injector system provides a ten litre fuel additive reservoir mounted near the diesel fuel tank of a truck. It is a "Fill and Forget" technology, once filled the automated system takes over. At each fuelling, the advanced system software, detects the amount of fuel added, and injects the precise amount of fuel additive in the mixing ratio specified for that additive, thereby, diminishing the risk of inconsistent additive application inherent in manual application procedures.
Mr. Duane Wood, Sparta's Vice President Business Development states "The transport industry has been asking for an automated system, we have developed it, we are excited about the June 9th launch. The USA Department of Transportation reports over 1.9 million registered highway tractor trucks in the USA, of which a great number of those fill at independent retail locations. We are targeting fleet sizes from fifty to thousands of trucks. To help assure volume production capability, we have contracted manufacturing and assembly to a Tier 1 automotive supplier in Indiana."
About Addeco Technologies and Sparta Capital Ltd.
Addeco Technologies is a division of Sparta Capital Ltd., a publicly traded company listed on the TSX Venture Exchange. Sparta trades under the symbol "SAY". Addeco Technologies operates Sparta's automated fuel additive delivery business. Addeco Technologies is seeking agents and distributors to deliver the product to the Transport Industry on a world-wide basis.
For further information on the AddecoTech SS10L, visit our website www.addecotech.com or contact:
Duane Wood, VP Product Development
Addeco Technologies Division
Toll Free Call: 1-(855) 539 9146 ext 102
Ray Ludwig, VP Operations
Sparta Capital Ltd.
Toll Free Call: 1-(855) 539-9146 ext 101
Certain statements included in this press release may constitute forward-looking statements that involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Corporation, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include changes in government regulations, general economic conditions and business conditions, ability to raise debt or equity financing as required to fund operations, foreign currency exposure, supplier constraints, transportation constraints, emissions standards, fuel prices, product quality and safety, alternative and competing products, protection of intellectual property, the findings resultant to due diligence programs, the ability to attract and retain employees, sales agents and service personnel in Canada and in international markets, effectiveness of sales programs, the actions of current and future competitors, future claims or litigation, the speculative nature of product research and development, and other factors that may affect demand for the Corporation's products and services and the ability of the Corporation to implement its business strategy and/or generate profit. The words "may", "would", "could", "will", "likely", "estimate", "believe", "expect", "plan", "anticipate", "forecast", "to commence", "is to be" and similar expressions are intended to identify forward-looking statements. Although Sparta has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Sparta does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.
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Source: Sparta Capital Ltd. (TSXV SAY) www.spartacapital.com
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