SANTA ANA, Calif., June 21, 2007 (PRIME NEWSWIRE) -- Fuel Systems Solutions, Inc. (Nasdaq:FSYS) today announced it has received certification from the United States Environmental Protection Agency to modify certain F-150 vehicles to operate on either gasoline or liquefied petroleum gas.
The modified Ford F-150 internal combustion engine equipped with Fuel Systems Solutions' technology offers an ultra-low emission standard when operated with liquefied petroleum gas, compared with gasoline which is only rated at the low-emission vehicle standard. A municipal fleet of 2003 and 2005 Ford F-150 vehicles operated in Austin, Texas will be among the first to benefit from the EPA certification and the usage of alternative fuel systems offered by Fuel Systems Solutions.
"The attainment of EPA certification for these vehicles represents a significant milestone for the company. The F-series and similar vehicles are utilized extensively by commercial and government fleets and the opportunity to attract interest from other municipalities, government agencies and commercial fleets across the U.S. is clearly an exciting prospect. A key strategic focus for the company in the U.S. market is to leverage this EPA certification for the F-150 and pursue other fleet vehicle operators, platforms and model years to increase, and encourage, the utilization of abundant, more economical and environmentally friendly fuel sources, such as LPG and CNG, by utilizing our systems," said Mariano Costamagna, president and chief executive officer of Fuel Systems Solutions, Inc.
Fuel Systems Solutions is a holding company currently comprised of two operating subsidiaries, IMPCO Technologies and BRC Gas Equipment. Additional information is available at www.fuelsystemssolutions.com. IMPCO designs, manufactures, markets and supplies advanced products and systems to enable internal combustion engines to run on clean burning gaseous fuels such as natural gas, propane and biogas. IMPCO is a leader in the heavy duty, industrial, power generation and stationary engines sectors. Headquartered in Santa Ana, California, IMPCO has offices throughout Asia, Europe, Australia and North America. Additional information is available at www.impcotechnologies.com. BRC produces a complete range of systems for converting vehicles to gaseous fuel to meet market requirements. BRC is a leader in the light duty and automobile alternative fuel sectors and has established alliances with several major automobile manufacturers for OEM projects. Headquartered in Cherasco, Italy, BRC has offices throughout Asia, Europe and South America. Additional information is available at www.brc.it
This press release contains certain forward-looking statements that involve risks and uncertainties, including, without limitation, expressed or implied statements concerning the company's expectations regarding the potential opportunities that can be realized from the EPA certification. Such statements are only predictions, and the company's actual results may differ materially. Factors that could cause or contribute to such differences between our expected future results and actual results include, but are not limited to, future changes in EPA certification requirements; customer acceptance of the modified Ford F-150 internal combustion engines; prevailing market and global economic conditions; changes in environmental regulations that impact the demand for the company's products; the company's ability to design and market advanced fuel metering; fuel storage and electronic control products; the company's ability to meet OEM specifications; and the level and success of the company's development programs with OEMs. Readers also should consider the risk factors set forth in the company's reports filed with the Securities and Exchange Commission, including, but not limited to, those contained in the Risk Factors section of the company's Quarterly Report on Form 10-Q, for the quarter ended September 30, 2006. The company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.