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United EcoEnergy Corp.: United EcoEnergy Corp (UEEC) Announces Agreement for SSC Green, Inc. $15 Million Financing

^{Published on 2009-06-02 06:06:59, Last Modified on 2009-06-02 06:08:13 - Market Wire}
 

NEW YORK, NY--(Marketwire - June 2, 2009) - United EcoEnergy Corp (OTCBB: [ UEEC ]) today announced the signing of a Term Sheet to invest $15 million in the Series A Preferred Shares of SSC, Inc's wholly-owned subsidiary, SSC Green, Inc., the holder and developer of the revolutionary All-Electric Scalable Powertrain, the AESP. The funds are intended to provide a matching cost share for the National Energy Technology Laboratory federal grant via the U.S. Department of Energy in the same amount for which the company has applied with broad bipartisan political support. SSC's credibility as a groundbreaking auto innovator has been undisputed since its design and production of the Ultimate Aero which returned the title of "World's Fastest Production Car" (Guinness World Records™ certified) to the United States after a 40 year absence, a title that remains unbroken. Jerod Shelby, Founder of Shelby SuperCars stated, "working with our investor relations group Sheffield International Finance Corporation, we are very excited to have assembled broad support from State and Federal legislators including U.S. Senators Murray and Cantwell along with 4 high-ranking Congressional leaders in Energy initiatives. We are looking forward to working with Governor Gregoire and State agencies in our ongoing expansion and job creation."

On January 22, 2009, SSC released details of the AESP -- All-Electric Scalable Powertrain which produces scalable performance from 100hp-1000hp that can be implemented into mass manufactured production line vehicles. Showcasing the breakthrough, the Ultimate Aero EV will utilize the new AESP technology, and incorporate a twin motor configuration producing 1,000 HP and 800 lb-ft of torque. This will enable the car to reach 60 mph in 2.5 seconds and reach a top speed of 208 mph. The Ultimate Aero EV will have a range of 150 to 200 miles on a single charge, and utilizing SSC's "Charge on the Run" onboard system will call for as little as 10 minute recharges.

SSC's Green Division, SSC Green, Inc., will provide packaged solutions of its AESP to a wide variety of applications ranging from 200 horsepower for economy and midsize cars to 500 horsepower for light trucks and SUVs and up to 1,000 horsepower for delivery fleet trucks, heavy-duty equipment, buses and military applications. Domestic and international interests range from major US manufacturers of various vehicles (RVs to SUVs), to Japanese auto manufacturers, delivery fleets, Chinese auto manufacturers, Argentine government subsidized mass transit, and Hong Kong manufacturing plants.

Kelly T. Hickel, Chairman of UEEC, said, "The opportunity to assist Shelby in the development of their revolutionary electric powertrain technology (AESP) is in keeping with our goal to invest where we can make a significant impact."

UEEC also announced that it will launch two of its portfolio investment companies in New York City simultaneously on June 3 - 4, featuring the Ultimate Aero Supercar and Epic Wound Care which manufactures an innovative gauze to serve the wound care market. The gauze, with both commercial and military applications, is a natural product for use in any wound site where bleeding is still present. For more information on these products please visit [ www.abcgauze.com ] and [ www.shelbysupercars.com ].

Safe Harbor Statement

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release may contain forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from those expressed or implied by such forward-looking statements. This news release speaks as of the date first set forth above and the Company assumes no responsibility to update the information included herein for events occurring after the date hereof.