Spectaire Signs Agreement to Expand into Brazil - a Country with Over 2 Million Heavy Duty Diesel Trucks Operating
WATERTOWN, Mass., Jan. 25, 2024 /PRNewswire/ -- Spectaire Holdings Inc. (NASDAQ: SPEC), an innovator in air quality monitoring and emissions reduction technology, today announced an extension of its' strategic distribution agreement with MLab, a partner of Namoa Digital, to bring the cutting-edge AireCore emissions measurement system to the South American trucking market.
"The continued global distribution expansion through strategic local partnerships is critical to the accelerated growth of Spectaire," said Brian Semkiw, CEO of Spectiare. He added, "Companies in South America and specifically Brazil rely on trucking as a critical service and their emissions reporting is currently a competitive disadvantage relative to operations in North America and Europe. Spectaire changes that and turns emissions into revenue for our customers."
Brazil has a national emissions crisis for the trucking industry with the enforcement of Proconve 8 which started in 2023. These standards, which are built on the Euro VI specifications, present unique challenges to countries such as Brazil. Due to the geography the average route for a commercial truck is 2,000+ km, only 12% of the roads are paved, and there are limited choices for intermodal transportation such as trains and waterways. The conditions create an almost impossible situation for Brazilian companies to compete in the ever-increasing challenge of reducing their emissions disclosures.
Based on reports from S&P Global Mobility, the distributed infrastructure of Brazil adoption of Natural Gas and Electric Trucks will continue to lag other countries. Currently of the 2.2 million heavy diesel trucks only 850 are electric or natural gas powered. By 2030 this number is projected to only grow to 1450 which hardly puts a dent into the 2.2 million on road inventory.
AireCore which allows companies to measure emissions reductions of up to 70% allows companies who have well serviced trucks to accurately represent their emissions and thus can leverage these extraordinary distances traveled and turn their emissions into a profit where today it is a competitive disadvantage.
Namoa Digital is an implementer of cutting-edge technologies to solve mission critical business problems. Located in São Paulo Brazil, and a partner of MLab, Namoa will have rights to distribute AirCore to the vast South American logistics market.
Stephan Gruner, CEO of Namoa Digital said, "AireCore is just the right product at just the right time for the South American Logistics Market. Emissions management is critical to the fleets who we would be targeting with this technology. Measurement of road emissions gives an advantage to companies who invest in their fleet, and we look forward to delivering this solution to them."
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
View original content to download multimedia:https://www.prnewswire.com/news-releases/spectaire-signs-agreement-to-expand-into-brazil--a-country-with-over-2-million-heavy-duty-diesel-trucks-operating-302043940.html
SOURCE Spectaire
