Fort Lauderdale, Florida, Nov. 22, 2016 (GLOBE NEWSWIRE) -- Today, NuState Energy Holdings, Inc. (NSEH –OTC US) announced that its distribution partner, MK Technologies, Inc., is in China to complete the Hydrogen Fuel Enhancement System pilot for Jinzhou Sealcoat Automotive Parts and to begin shipping our Intellectual Property, GPSTrax.
MK Technologies has a binding agreement with Jinzhou to complete the final 2 weeks of live testing and to receive the 1.3 million-dollar payment for exclusivity in China. Jinzhou has a commitment to purchase 500 units per month for the first 12 months; which includes GPSTrax and our GPS devices. Under the terms of our agreement, NuState will be paid the distribution license fee of $100,000 and an expected monthly order of 500 units. This will produce revenue of $150,000 per month for the first year. This is just the beginning of a long term and even more profitable business for NuState and its technology division.
The company entered into a binding letter of intent, earlier this year, with MK Technologies, Inc., to acquire the Hydrogen Fuel Enhancement System (HFES), which includes the following:
- Intellectual property: Trade secrets, Certifications
- Manufacturing: Inventory, raw materials, ISO 9000 standard operations
- Contracts: Distribution agreements in China, Mexico
In 2014, a software development agreement was signed which enabled us to design and develop additional functionality to our Intellectual Property, GPSTrax. GPSTrax has the ability to communicate with emission reduction products like the Hydrogen Fuel Enhancement System (HFES) from MKT. We completed multiple pilot installations of GPSTrax, with the hydrogen fuel enhancement system, in 2015. These pilots have brought forth new agreements for MKT in several countries across the globe.
Chairman Kevin Yates asserted, “The partnership with MKT, and eventual acquisition of the HFES, enables NuState to offer a complete solution to lower carbon emissions on a global scale. This is the beginning of the launch of GPSTrax into the marketplace. We all have waited a long time for this day. Several countries around the globe are offering incentives to companies that provide solutions for reducing carbon emissions and we are on top of it.”
About NuState Energy Holdings, Inc.:
NuState is a global provider of Energy Efficient solutions for the consumer and commercial client. The company’s telematics solutions collect vehicle and container based data, integrate it with information gathered from various separate systems across the supply chain, synthesize it, reformat it into valuable, actionable information, and deliver it to end-users across the logistics value chain through secure web-based applications. Specific offerings include vehicle tracking, inventory/asset visibility, secure trucking, matching available freight with available trucks, and many others. GPSTrax has proven to enhance worldwide emission reduction solutions for the automobile and trucking industry through their partners’ emission reduction products.
For more information about NuState, call (954) 712-7487 or sign up for newsletter at www.nsehinc.com
NuState is located at 410 East Las Olas Blvd Suite 1400 Fort Lauderdale, Florida 33301
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