Spectaire Launches into European Trucking Market with Signed Distribution Agreement
Partnership with MLab and Mosolf Set to Revolutionize Emissions Monitoring to 6.5 million Potential Commercial Trucks in the EU
WATERTOWN, Mass., Jan. 11, 2024 /PRNewswire/ -- Spectaire Holdings Inc. (NASDAQ: SPEC), an innovator in air quality monitoring and emissions reduction technology, today announced a strategic distribution agreement with MLab, alongside their service and distribution partner Mosolf, to bring the cutting-edge AireCore emissions measurement system to the European trucking market.
This partnership marks a significant step in Spectaire's expansion, leveraging MLabs' network and Mosolf's expertise in trucking, sales, service, and distribution to introduce AireCore systems across Europe. This collaboration is set to revolutionize emissions monitoring in a market where trucks carry almost 80% of land freight transport in the EU.
The European commercial trucking market represents a vast opportunity for Spectaire's technology. Key statistics highlight the market's size and potential (Source: https://www.acea.auto/fact/fact-sheet-trucks/):
Trucks are responsible for nearly 80% of land freight transport in the European Union.
The EU has a fleet of around 6.5 million trucks.
In 2022, over half a million trucks were manufactured within the EU.
50% of heavy trucks built in the US originate from European factories.
The average age of trucks in Europe is 14.2 years, indicating a significant market for upgrades and new technologies.
"The staff at MLab and Mosolf hold leadership roles in various European trucking associations who are helping trucking companies prepare for the strengthened emissions regulations proposed in Euro 7," said Brian Semkiw, CEO of Spectaire. He added, "Through this partnership, we anticipate rapid adoption of AireCore in the European trucking market because we believe Spectaire is uniquely able to address the needs of RDE (Real Drive Emissions) which is a critical component of Euro 7. Today we can deliver the vision of real drive emissions to fleets years ahead of Euro 7 requirements."
Gregory Hancke, COO of Mosolf, commented, "Spectaire is a critical partner for MLab and Mosolf to achieve the environmental sustainability goals. We look forward distributing AireCore to like-minded trucking companies in Europe, enhancing both environmental sustainability and operational efficiency."
Additional Information: For more details on the Spectaire and MLab partnership and the AireCore emissions measurement technology, please visit www.spectaire.com.
About Spectaire
Spectaire (Nasdaq: SPEC) is at the forefront of air quality monitoring and emissions reduction technology. Spectaire provides innovative solutions that foster environmental sustainability and corporate responsibility.
Forward-Looking Statements
This release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "would," "will continue," "will likely result" and similar expressions.
The forward-looking statements are based on the current expectations of the management of Spectaire and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. Forward-looking statements reflect material expectations and assumptions, including, without limitation, expectations, and assumptions. Such expectations and assumptions are inherently subject to uncertainties and contingencies regarding future events and, as such, are subject to change. Forward-looking statements involve a number of risks, uncertainties or other factors that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made by Spectaire with the U.S. Securities and Exchange Commission (the "SEC") and the following: Spectaire's ability to operate as a going concern; Spectaire's requirement of significant additional capital; Spectaire's limited operating history; Spectaire's history of losses; Spectaire's ability to attract qualified management; Spectaire's ability to adapt to rapid and significant technological change and respond to introductions of new products in order to remain competitive; the loss of, or nonperformance by, one or more significant customers; disruptions of Spectaire's manufacturing operation; changes in governmental regulations reducing demand for Spectaire's products or increasing Spectaire's expenses; the effects of global health crises on Spectaire's business plans, financial condition and liquidity; changes or disruptions in the securities markets; legislative, political or economic developments; Spectaire's failure to obtain any necessary permits or comply with laws and regulations and other regulatory requirements; accidents, equipment breakdowns, labor disputes or other unanticipated difficulties or interruptions; potential cost overruns or unanticipated expenses in development programs; potential legal proceedings; and Spectaire's failure to obtain or maintain insurance covering all of Spectaire's operations.
Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of Spectaire prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.
All subsequent written and oral forward-looking statements concerning matters addressed herein and attributable to Spectaire or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Except to the extent required by applicable law or regulation, Spectaire undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date hereof to reflect the occurrence of unanticipated events.
Website: Spectaire.com
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