BOCA RATON, Fla., Oct. 25, 2011 /PRNewswire/ -- Energy 1
Corporation (OTC: EGOC) is pleased to announce that it has reached
an agreement to acquire the majority of the assets of Master Lease
Owner Operator Services (MLOOS) while integrating all current and
future business under the E1 brand and management on a going
forward basis.
"This is a significant deal and a major step forward for Energy
1 and its continued relationship with Master Lease and their
affiliated companies," said Raymond T.
Brown, Chairman of E1. "This acquisition adds $4MM to
$4.5MM in and annual cash flow to the
Company immediately while only representing a small portion of ML's
current customer base. We believe it's a business model that can
grow substantially and we'll seek to expand this platform for all
future E1 customers as we add to the overall fleet portfolio."
As part of the ongoing agreement with Master Lease, the Company
will also begin to integrate its technologies as well as other
licensed products onto MLOOS customer vehicles. It is the
overall intent of E1 to grow a portfolio of over-the-road vehicles
that have been retrofit to meet both current and future emission
standards while offering the consumer an economic solution versus
total vehicle replacement in order to meet EPA & CARB
requirements.
About Master Lease
Headquartered in Henderson,
Colorado, Master Lease provides lease financing for
over-the-road trucks & trailers. The company's customer base
consists primarily of owner-operators and small trucking companies
who haul for regional distributors such as First Choice Transport,
Greatwide Logistics, HVH, Landstar, Monfort, National Carriers and
Power Source.
About Master Lease Owner Operator Services
Master Lease Owner Operator Services (MLOOS) provides
professional tractor-trailer operators the opportunity to own their
own truck and work as independent business people through managed
lease agreements.
For more information, please visit:
www.MasterLease.com
About Energy 1 Corporation
Headquartered in Boca Raton,
Florida, E1 is a manufacturer of fuel efficiency and
emission reduction solutions for retrofit on diesel powered
equipment.
For more information, please visit:
www.Energy1Corp.com
Forward-Looking Statement: Please be advised that
statements made herein, other than historical data, constitute
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
stated or implied by such forward-looking statements.
Contact:
Energy 1 Corporation
Info@Energy1Corp.com
SOURCE Energy 1 Corporation