|By Marketwired .||
|January 16, 2014 04:46 PM EST||
SHERBROOKE, QC -- (Marketwired) -- 01/16/14 -- Novacab International Inc. (OTC Pink: NVOB) is pleased to announce the acquisition of an industrial building to be used for the installation and service of its products. The building is situated in Sorel-Tracy, Quebec, Canada, approximately 38 miles from metropolitan Montreal. The site was chosen because it is situated on the heavily travelled truck route between Montreal and the US border. The cost of the acquisition of the real estate and equipment and new inventory is $1,400,000.
For Novacab (Automotive applications), there are 150 units currently installed at an average unit price of $15,000.00. These units have been used for three years without problems and provide yearly fuel savings of up to $ 7,000.00. There is also a reduction of C02 emissions and other gases as well as a prolongation to the engine's life of an additional 200,000 miles.
These outstanding results were monitored and validated by independent sources such as Transport Canada, in 2003; this system won the AQME Gala Enertia trophy in the category of Transport.
The technology provides for the creation of electricity from the flow of heat in the cooling system of vehicles. This electricity is stored in a modular unit in the vehicle and will supply air conditioning and heating needs for 6 to 10 consecutive hours without running the engine.
This technology is a natural solution for long distance trucks with sleeper cabs and it targets 500,000 Class 8 trucks with sleeper cabs out of a fleet of 2,400,000 Class 8 trucks in the USA and Canada. Furthermore there are 125,000 new Class 8 vehicles built every year in North America.
About Novacab International Inc
Novacab's technologies are based on patent protected research developed since 1996 and are applicable in two main sectors, vehicles and buildings. The technology provides for thermal storage of electricity that is created from the flow of heat. These systems convert heat into electricity which can be stored for future use.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.