NuState Announces Letter of Intent for License Deal To Use Fleet Management Tracking Software in China
Columbia, SC (PRWEB) October 08, 2014 -- NuState Energy Holdings, Inc. (NSEH) announced today it has completed a letter of intent with The Ronn Motor Group, with offices in Dalian, China and the United States, to enter into a license agreement in relation to the purchase of NuState’s IP software, GPSTrax, for use by Ronn Motor Group’s partners in China and other international markets.
Completion of the letter of intent to move forward with the license agreement was announced by NuState President Kevin Yates, who is focused on expanding international contracts for the company’s IP software, with particular emphasis on the alternative and emerging fuel applications.
“We’re excited to be moving ahead in this deal with Ronn Motor Group, which is pushing into China and other global markets where alternative fuel opportunities are huge,” said Yates.
According to Ronn Motor Group CEO Ronn Maxwell, the company is targeting the commercial and original equipment fleet vehicle markets in China, India and Europe providing validation, testing and data for government financial incentives in relation to alternative fuel and power technologies, including fleet management tracking capabilities provided by NuState’s GPSTrax.
GPSTrax offers fleet managers a real-time, detailed analysis of fleet and individual vehicle performance, including data that includes the location, speed, direction and fuel consumption of vehicles.
Improving fleet vehicle performance also improves their emission standards, which is of critical importance in China, where the business and government leaders are heavily focused on improving air quality. NuState’s GPSTrax provides for baseline measurements of before and after implementation of the software, with information used to claim carbon credits and to prove emissions program improvements to government officials and media representatives.
“GPSTrax is an important tool for validating, testing and logging results for any new alternative fuel or power technology, whether automotive, trucking or stationary platforms,” said Maxwell.
The purchase of NuState’s IP software, GPSTrax, by Ronn Motor Group includes all current documentation and training support from NuState’s management team for the duration of the agreement. After closing the sale, which is expected by Dec. 1, 2014, NuState will work with Ronn Motor Group to develop a pilot implementation plan including testing with devices, software development enhancements and ongoing support services.
About NuState
NuState Energy Holdings, Inc. has traditionally been a technology company specializing in providing pertinent, real-time information to the worldwide transportation and security industries. The company recently announced plans to build on the foundation of its intellectual property by adding additional intellectual property and instilling a renewed focus on revenue producing opportunities. NuState’s proprietary software, built on an Open Architecture platform for the logistics and telematics industry, allows its IT team to refresh and enhance the source code to interface with opportunities tied to alternative fuels and whatever else the market demands.
NuState is going to match that new vitality with increased focus on marketing, social media and investor communications. This will allow our shareholders and the entire industry to share in and be made fully apprised of our success. The company’s new web site at http://www.nsehinc.com is set for release in October. Kevin Yates’ new Twitter account is Yates@nsehinc. For more information about NuState, call (803) 748-1309. NuState is located at 1201 Main Street, Suite 1980, Columbia, S.C. 29201.
About The Ronn Motor Group
The Ronn Motor Group is a privately held automotive development company with offices in the United States and China. It is working with various commercial and government entities in the development of new automotive platforms, including systems to track and validate emission reductions and alternative fuels. For more information about The Ronn Motor Group, email info(at)ronnmotorgroup(dot)com.
Safe-Harbor Statement under the Private Securities Litigation Reform Act of 1995: This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company’s financing plans; (ii) trends affecting the company’s financial condition or results of operations; (iii) the company’s growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words “may,” “would,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “intend” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors including the risk disclosed in the company’s Forms 10-K and 10-Q filed with the SEC.
Gary Bitner, Bitner Goodman, http://bitnergoodman.com/, +1 954.849.9201, [email protected]
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