| X PRIZE Update |
Phase one qualification for the Progressive Automotive X-PRIZE is officially closed. From 111 original teams there are now 43 teams remaining. Only 5 are currently competing with FVT in the Alternative Class. Looks like building a 100mpg vehicle is harder than many teams thought it would be.
The X-Prize car is now 60% complete - and it is spectacular. The custom electric motors, generator and controllers have arrived and dyno testing has commenced. Brad Zimmerman is learning that "torque" has a new definition. These custom motors react faster and harder than any motors he has tested over the past 15 years. The reaction time is instantaneous and the tires can break free from the dyno effortlessly at 60-70km/h. This high performance heaven!
The X Prize will be a tremendous race and will give FVT a platform to show the world that hi-performance fuel efficient vehicles are achievable today. FVT recently learned that the awards ceremony may be on the White House lawn.
To view the complete list of the competition click here. |
| Investor Update Government Support and YOUR 30% tax credit |
Our shareholders will be pleased to know that the Federal Government recognizes the important work FVT is doing and has recently funded FVT through two different Government programs to the tune of $111,000 total. This brings combined government support to over $250,000 in the past 3 years. Canada is a great place to do R&D and we are proud to be creating technologies that will help Canada make its mark in environmental stewardship of our planet.
This Government recognition also extends to new investors by qualifying FVT as part of a BC government program allowing BC investors to receive a 30% tax credit on any investment over $10,000. This is a great way to invest in a high tech start up and get a 30% return in the first year. For further information contact Todd Pratt. or Mike Zimmerman
Shares in FVT Research are currently 10 cents each with 1,100,000 of the 2 million shares already sold, we expect the remaining 900,000 shares will go quickly. If you or someone you know is interested in learning more, contact Todd or Mike at investment@futurevehicletechnologies.com .
Note: After these shares are sold the next offering will be at $.20 per share.
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