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 /CNW/ -- 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.
Spectaire is uniquely able to address the
needs of RDE (Real Drive Emissions) which is a critical component
of Euro 7.
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
View original content to download
multimedia:https://www.prnewswire.com/news-releases/spectaire-launches-into-european-trucking-market-with-signed-distribution-agreement-302031957.html
SOURCE Spectaire