STWA MagChargR™ 'Go to Market' Strategy Ready
California Air Resources Board Executive Order Paves Way for Consumer and OEM Adaptation of MagChargR
MORGAN HILL, CA--(Marketwire - March 4, 2009) - Save the World Air, Inc. (
"President Obama has made it clear that his administration will reverse the emissions policies of the previous administration," stated Cecil Bond Kyte, Chairman and CEO of Save the World Air, Inc. "The MagChargR product directly addresses the passenger vehicle emissions control market, which has been targeted by states like California who have enacted strong standards to reduce vehicle emissions by a huge margin by 2020. We believe the MagChargR product is one potential solution for consumers and OEM manufacturers."
The MagChargR is relevant to several niches in the Specialty Equipment Market. According to a May 2008 report by SEMA, titled, 'SEMA '07 Insight: Market Study,' these niches represented the following in retail sales: Light Truck, $13 billion; Compact Performance, $6.7 billion; Street Performance, $2.2 billion; Racing, $1 billion; and the Hot Rod and Custom niche, $1 billion. The relevant portions of the Specialty Equipment Market totaled $23.9 billion in 2007. Management believes approximately 4% of the $23.9 billion of specialty automotive products is spent specifically on engine performance enhancements making the total potential addressable market approximately $1.4 billion for the MagChargR product.
Kyte added, "Consumers purchased these products despite a lag in the general U.S. economy." That figure represents an increase from 2006 to 2007, and is the 17th consecutive year of growth. Over the last ten years, the industry has grown at a Combined Average Growth Rate (CAGR) of 7.0%.
About Save The World Air, Inc.
Save The World Air, Inc. develops and licenses patented and patent pending flux field pollution control and performance improvement technologies, including the ELEKTRA, ZEFS and MKIV, which have been scientifically tested and proven to significantly reduce harmful exhaust emissions, improve performance and enhance fuel economy. The products have been engineered to serve as either stand alone pollution control systems or can be used (in conjunction with catalytic converters) to create a more effective total pollution control system that not only reduces harmful emissions, but also decreases greenhouse gases, improves fuel efficiency and boosts performance.
More information including a company Fact Sheet and media articles are available at: http://www.irthcommunications.com/clients_ZERO.php, and at: http://www.magchargr.com,
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Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.