SANTA CLARITA, Calif.,
June 5, 2012 /PRNewswire/ -- US
ENERGY INITIATIVES CORP (USEI.OTC) announced today that it has
entered a Joint Venture with BulovaTech Labs, Inc., a private
company located in Austin, Texas,
and Silicon Valley, California
("Bulova"), to distribute a fuel product designed to replace the
current formulation of gasoline. The proprietary patent
pending gasoline replacement product was developed by Bulova over
several years. The product, A Universal Fuel™ is an
enhanced energy feedstock blended with methanol and gasoline
commanding an industry setting 96 Octane which is higher than any
commercially available non-racing fuel. The product is sold
under the brand Singular 96™.
The initial delivery of the fuel occurred on May 25, 2012. Approximately, 800 vehicles
were fueled with Singular 96™. The price for this
premium grade 96 Octane fuel was seven (7)
cents a gallon, below the local prevailing price for regular
grade 87 Octane gasoline.
According to Anthony Miller, CEO,
"This relationship is a logical progression for our company,
because it fits with our core business goals and objectives. This
venture will provide Immediate and Significant revenue for us. This
retail commodity has tremendous demand currently, which should
generate continued sales year after year."
About US Energy Initiatives: The Company has two
separate energy initiatives; one in the automotive sector and one
in the oil, gas & technology sector. We will continue to
develop and market our automotive technologies which we have done
since 1996; and focus on manufacturing and marketing GREEN retrofit
systems for the conversion of gasoline and diesel engines, and
market new and innovative hybrid fuels.
We will also acquire and develop stranded or un-recovered oil
properties for enhanced oil production, create partnerships with
operators, create strategic alliances for primary and secondary
recovery, and partner with farm-ins on properties where technology
will be utilized to improve recovery efforts. Our goal here is to
become an environmentally responsible oil and gas company;
utilizing all methods available to improve oil recovery. We
will market our technology to a worldwide market to produce
significant revenue and add value for our shareholders.
Disclosures: "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This press release may
contain forward-looking statements that are subject to risk and
uncertainties, including, but not limited to, the impact of
competitive products, product demand, market acceptance risks,
fluctuations in operating results, political risk and other risks
detailed from time to time in the Company's filings with
OTCMarkets.com and as required to the Securities and Exchange
Commission. These risks could cause USEI's actual results to differ
materially from those expressed in any forward-looking statements
made by, or on behalf of, the Company.
Contact: Investor Relations, 866.922-1116 or
info@usenergyinit.com
Website: www.usenergyinit.com
SOURCE US Energy Initiatives Corp
