CHICAGO--()--Please replace the release dated March 30, 2011 with the following corrected version due to multiple revisions.
“With new government incentives and the soaring fuel prices electric vehicle use will become more apparent and we are helping facilitate the U.S. transition to gas free vehicles.”
The corrected release reads:
ULYSSES DIVERSIFIED HOLDINGS CORPORATION ANNOUNCES DEVELOPMENT OF ELECTRIC VEHICLE CHARGING STATION INFRASTRUCTURE FOR THE CHICAGO AREA
Ulysses Diversified Holdings Corporation (PINKSHEETS: UDHC) announced today that JNS Power & Control Systems, Inc. has been selected as an installing contractor for six electric car charging stations throughout the Chicago area. This project is among the first and largest of its kind in the United States and Chicago is an ideal area to utilize electric vehicles considering almost 90 percent of all area commutes are less than 40 miles. Most fully electric cars can go up to 100 miles on a full charge.
Through an American Recovery and Reinvestment Act grant, the City of Chicago awarded a $1.9 million contract to the California firm 350Green, LLC to install and maintain 280 electric vehicle charging stations in Chicago and its surrounding suburbs by the end of 2011. The stations will be located at O’Hare and Midway airports, at grocery stores, national retail chains, on tollway plazas and in parking garages. The total project will cost $8.77 million, which 350Green, LLC will provide up-front. It will later be reimbursed $1.9 million from grant funds.
“This project will encourage greater use of electric vehicles in one of the most heavily traveled cities in the country and we think it is exceptionally prudent that we have the needed infrastructure for what we know is coming,” said Jean Howe, President and Chief Executive Officer. “With new government incentives and the soaring fuel prices electric vehicle use will become more apparent and we are helping facilitate the U.S. transition to gas free vehicles.”
This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.