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
