RENO, NV, Feb 16, 2010 (MARKETWIRE via COMTEX) -- Hybrid Energy Holdings, Inc. (PINKSHEETS: HYBE) expects there to be a demand surge based on recent Industry announcements of growing acceptance and use of Natural Gas in the car and transportation industry.
Honda's U.S. built 2010 Civic GX uses only Natural gas, and at the Auto Show currently underway in Chicago, Ford introduced 2011 Ford Transit Connect Taxi Natural Gas. Taxi fleets have long used natural gas as fuel.
Earlier this month Yellow Group, a major taxicab company, said it has started a conversion to Compressed Natural Gas power for all its fleet. Yellow Group plans an initial deployment of 100 new CNG taxis under its Yellow Cab subsidiary, America's oldest and largest continuously operating taxi fleet.
Natural gas burns cleaner than other fossil fuels. It has fewer emissions of sulfur, carbon, and nitrogen when it is burned; it leaves almost no ash particles. Being a cleaner fuel and available domestically, without the need for importing foreign oil, are considered the main reasons that the use of Natural Gas has grown so much. To meet these demands, Hybrid Energy recently announced its latest acquisition of 9 properties that consistently deliver profitably with strong recurring current and historical cash-flows. This important expansion of the company's portfolio results in 35,000,000 BCF of known reserves and delivers an estimated $30,000,000 of shareholder value in active reserves and an additional estimated $145,000,000 in yet untapped reserves of current properties.
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