Principal Provides Status Update of eTruck Transportation’s Class 6 EV Conversion Technology
Rhea-AI Summary
Principal Solar (OTC Pink: PSWW) announced positive progress in its investment in eTruck Transportation, which is on schedule to complete its initial hybrid electric vehicle conversions by Q4 2021. The company’s proprietary technology allows cost-effective transitions from diesel to hybrid electric fleets, enhancing operational efficiency while reducing emissions. This strategic investment aligns with Principal Solar's focus on emerging electric vehicle technologies, ensuring compliance with market demands for innovative and environmentally-friendly transportation solutions.
AI-generated analysis. Not financial advice.
Positive
- eTruck is on schedule for completing two initial vehicle conversions by Q4 2021.
- The technology developed by eTruck enables existing fleets to transition cost-effectively to hybrid electric systems.
- Principal Solar's strategic investment supports timely, cost-effective solutions in the electric vehicle market.
Negative
- None.
News Market Reaction – PSWW
On the day this news was published, PSWW gained 18.20%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Video Demo Now Available; eTruck’s Commercial Product Development Progressing as Anticipated, Providing Further Validation of Principal Solar’s Investment and Operational Strategies
DALLAS, TEXAS, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in and acquirer of technologies that support next-generation opportunities in renewable, and clean energy sectors as well as an investor in and acquirer and operator of undervalued petroleum-producing properties, today announced that eTruck Transportation (“eTruck”) is on schedule with the development and planned availability of its class 6 hybrid heavy electric vehicle demonstration vehicles, both of which are planned for Q4 of 2021.
“Our investment in eTruck Transportation is performing as anticipated,” said K. Bryce “Rick” Toussaint, CPA, MBA, Chairman and CEO of PSWW. “eTruck is on schedule for a Q4 completion of its two initial vehicle conversions for customer evaluation and plans to accept commercial orders in the same quarter.”
A video of eTruck’s Class 8 demonstration vehicle is viewable here: https://youtu.be/tOVcmY2tdno.
eTruck's heavy vehicle EV conversion technology is engineered to enable transportation and logistics companies of all sizes to cost-effectively transition their existing fleets from diesel to high performance hybrid electric fleets without waiting for major truck manufacturers to engineer completely new platforms. eTruck’s proprietary system lowers operational costs, reduces fuel consumption and emissions, thus enabling diesel fleets to transition towards electric power, without sacrificing performance, range, or utility.
Principal Solar, via its Nexteal subsidiary, is strategically investing in emerging electric vehicle technologies that are ready for near-term commercial rollout, thereby meeting today’s market demand with timely, cost-effective, and environmentally-friendly solutions.
About Principal Solar
Principal Solar is a strategic investor in and acquirer of technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer of undervalued petroleum-producing properties.
For further information, please visit the Company’s website at www.pswwenergy.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
The statements contained in this news release which are not historical facts may be "forward-looking statements" that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated. For example, statements that describe PSWW' hopes, plans, objectives, goals, intentions, or expectations are forward-looking statements. The forward-looking statements made herein are only made as of the date of this news release. Numerous factors, many of which are beyond PSWWs' control, will affect actual results. PSWW undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. This news release should be read in conjunction with PSWWs' most recent financial reports and other filings posted with the OTC Markets and/or the U. S. Securities and Exchange Commission by PSWW.
Principal Solar Contact
K. Bryce “Rick” Toussaint, CPA, MBA
Chairman and Chief Executive Officer
kt@pswwenergy.com
346-396-4210
Investor Relations Contact
Michael Briola
invest@pswwenergy.com
