President/CEO Peter Collorafi of Revenge Designs Inc. (PINKSHEETS: RVGD), a specialty car designer and production assembler, is pleased to announce that an agreement has been signed with Mr. Douglas Pelmear, President/CEO of HP2G LLC, an Ohio based engine company with a 110 MPGe engine.
HP2G LLC has designed, developed and built a proprietary V-8 engine called the HP2g. It can achieve 110 MPGe (miles per gallon equivalent) in fuel economy while posting carbon emissions of less than 200g/mi and generating 400 horse power and 500 lb-ft of torque. Under the terms of their agreement, HP2G LLC and Revenge will execute a Master Installation Agreement making Revenge the sole and exclusive Certified Installation Centers in the United States for the installation of HP2g engines for aftermarket purchasers. Revenge will be the sole and exclusive Certified Installation Center for HP2G's HP2g engine for those clients. Further, satellite centers will be established.
Douglas Pelmear, President and CEO of HP2G LLC, has been spotlighted by the Progressive Automotive X PRIZE competition and has been interviewed by national, regional, local and international press regarding the HP2g. He has exhibited the HP2g, by invitation, at the North American International Auto Show in Detroit, the Washington, D.C. auto show sponsored by the Department of Energy and last year's Specialty Equipment Market Association (SEMA) show in Las Vegas where he won the Green Zone Award.
When discussing the engine, Mr. Pelmear states, "This V-8 engine operates on E-85 fuel instead of gasoline. Coupling that with the use of more precise tolerances and manufacturing techniques, we decrease heat as well as energy loss and increase the efficiency of the internal combustion engine.
"There are nearly 250 million cars and light trucks operating today in North America. The global market holds well over twice this amount. North American new car sales vary between 15 million and 17 million per year. The vast majority of these vehicles use gasoline at a rate of between 15 and 40 miles per gallon (MPG). Fuel costs and fuel economy in vehicles have been affected by a number of factors. Up until now, the automotive companies, energy suppliers and national governments have moved at glacial speed to create fuel efficient vehicles, or improved energy and fuel sources."
Revenge Designs and HP2G are very excited to be making real-time advances in fuel-efficiency and offering the world a practical fuel option without compromising the consumers' needs.
Both Mr. Pelmear and Mr. Collorafi are pleased to also announce the first production vehicles to utilize the HP2g 110 MPGe V-8 engine will be from Revenge Designs and are currently in the build stages. The all-new Revenge Verde Super Car will be totally designed in-house. The Revenge Verde Super Car makes extensive use of carbon fiber and has a chromoly tubular chassis design as well as a wheel base similar to the Ferrari GTB in order to allow for considerable leg and head room. The mid-engine compartment is specifically designed for the HP2g engine technology.
The production of the GTM-R Super Car will not continue. It is simply not feasible to produce a vehicle that is not entirely designed in-house and requires such a considerable amount of reconstruction and design.
With several months into the development of the Verde Super Car, Revenge Designs hopes to release the new Verde Super Car at the LA International Auto Show in December 2009. Revenge intends to display two versions of the Verde; one left-hand and one right-hand drive with the purpose of releasing the vehicles to the world market and not simply the American stage. Following the Revenge Verde Super Car, the company will be producing a Super Saloon vehicle in late 2010 that will accommodate the four-door passenger car market.
Over the past eight weeks Mr. Collorafi has met with several Government and State officials to discuss a number of different funding options from a variety of entities. One of the options includes the availability of financing from the Federal Stimulus Package. Mr. Collorafi is also working with various Department of Development officials in a number of states to include employee based incentives, tax incentives, and research and development funding into the finance package.
The site for the new assembly plant, the Revenge Certified Installation Center and Testing Facility, will create employment opportunities and economic assistance to whatever community is chosen to be the home of the new location. The current Northern Indiana location will be maintained for management and R&D purposes; however, the entire Revenge Team is very excited to be branching out to a new location and start building.
Mr. Pelmear has informed Revenge Designs that he has over three dozen patents near completion and production should commence mid-year 2009. Both Pelmear and Collorafi agree that, no matter where the plant locations are or how quickly production begins, the "the true win is seeing fuel-efficient production vehicles driving down the roads that have helped put Americans back to work."
In summary, Mr. Collorafi states, "I must commend Mr. Pelmear for his relentless fight to strive for a clean air environment now. His ability to release his proven technology now, in 2009, is making improvements for not only our generation but for our children and generations to come."
Revenge Designs Inc., a specialty car designer and production assembler, is headquartered in a facility in North Eastern Indiana. Mr. Peter Collorafi is a car designer from Queensland, Australia. Mr. Collorafi has been designing and installing custom modifications for factory produced vehicles since 1980. Their products include the Revenge Solstice, Revenge Ridgeline, and the award winning Revenge GTO. For more information on the company please visit www.revengedesignsinc.com.