Echo Automotive, Inc. announced April 11 the execution of a voluntary Exchange Agreement with Advanced Technical Asset Holdings (“ATAH”) through issuance and filing of a form 8-K with the Securities and Exchange Commission (“SEC”) regarding this major event.

Echo describes itself as a developer of technologies enabling the cost effective conversion of existing fleet vehicles into fuel efficient hybrids and plug in hybrids.

The voluntary exchange between the two companies transfers to Echo the ATAH assets and intellectual property which were acquired by ATAH from Bright Automotive.

“We are very pleased to complete this transaction,” stated Dan Kennedy’s, Echo’s CEO. “This gives Echo a broad suite of technologies, intellectual property, and patents that significantly expands Echo’s capabilities and portfolio. In addition, this acquisition opens up new product opportunities for Echo and will allow Echo to better serve the increasing demand for OEMs in need of real-world experience, technologies and IP.”

The Company further stated that the acquisition of the assets, IP and multiple patents significantly strengthens the Company’s overall market segment positioning.

The Company acquired Bright Automotive R&D which Echo estimates to be tens of thousands of hours at a cost in the tens-of-millions of dollars. Echo additionally disclosed that the IP and assets contained with this transaction are inclusive of several fully developed prototype vehicles, including the Bright IDEA vehicle, and other IP and engineering data.

“We are excited to incorporate these technologies into our near and long term strategies,” added Jason Plotke, Echo President and Co-Founder. “Our EchoDrive technology was validated by winning the Most Innovative Product award at NTEA earlier this year, and our engineers and developers are looking forward to applying our expertise to the technology we acquired as part of the this transaction in order to meet the increasing demand and opportunities in the sector.”

The Company said it has filed an 8K Form disclosing the voluntary exchange between Echo and ATAH and containing the details of the transaction with the SEC. The exchange terms include the issuance by Echo of six million (6,000,000) shares of its common stock to ATAH for the ATAH assets and intellectual property, all of the outstanding ATAH member units, and $500,000 of cash from ATAH.

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Echo Automotive, Inc., specializing in cost effective conversion of existing fleet vehicles into fuel efficient hybrids, announced yesterday the signing of an agreement with Meineke Car Care Centers, Inc. to serve as a national service center and installer for Echo Automotive systems.

“We are extremely pleased to have Meineke onboard as a strategic partner,” commented Jason Plotke, Echo Automotive Chairman and President. “Our relationship with Meineke greatly assists us in scaling our business through the support of this highly recognized and respected national service provider and is a tangible advantage we are delighted to offer our customers.”

There are approximately 900 Meineke franchises throughout the United States, Canada, Mexico, Brazil, China, Saudi Arabia and the Caribbean.

Meineke said its franchisees have serviced more than 50,000,000 vehicles since 1972. The American Association of Franchisees & Dealers recognized Meineke in 2001 as its first automotive industry franchisor to earn the coveted Fair Franchising Seal. Meineke regularly appears in Entrepreneur Magazine’s Annual Franchise 500 (55^th overall and #1 in class for 2011), a list of the 500 best franchise opportunities in America.

“We view collaboration and strategic partnering as a smarter way to go to market,” adds Dan Kennedy, Echo CEO. “We are an integrator and believe that having dedicated upstream and downstream partners is crucial to providing the very best solutions for our customers.”

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Echo Automotive, Inc.  (Echo) describes itself as a developer of technologies enabling the cost effective conversion of existing fleet vehicles into fuel-efficient hybrids.

“As well as his extraordinary skills on the racetrack, Arie is passionate, informed and engaged as a supporter of automotive innovation,” said Echo COO and Managing Director, Patrick van den Bossche. “We are thrilled to have his expertise, enthusiasm, visibility and broad industry relationships to aid us as we spread the word about the exciting possibilities our EchoDrive system offers. I have known Arie for a number of years and it’s a real pleasure to draw on his experiences as a consummate professional, especially in the area of automotive innovation.”

Arie Luyendyk began his racing in the early 1970s with a number of European national titles. He then moved to the United States in 1984 where he immediately won the Super Vee championship. He ran his first full Champ Car season in 1985 winning the rookie of the year title for both the season and at the Indianapolis 500.

His first win in the series came in 1990 where he won the Indianapolis 500 with a record average speed of 185.981 mph (299.307 km/h) that still stands to this day. He took his second Indy win at the 1997 race after qualifying for pole position.

During this period, he also qualified as Indy 500 pole sitter in 1993 and again in 1999 and further enjoyed his selection to participate in the 1992, 1993, and 1998 editions of the prestigious International Race of Champions.

After a brief retirement at the end of 1999 he returned to the Indy 500 in 2001 and 2002, but after an accident during practice in 2003 he retired from the series.

Other memorable victories during his career include the 24 Hours of Daytona and the 12 Hours of Sebring.

In a testament to his impact on the sport, the last corner of the Zandvoort race track in the Netherlands carries his name.

Echo said he is a well-respected statesman for the sport both at home and abroad with ongoing interests in many different facets of the industry.

“When I was approached to look things over, I was impressed to find such a well-considered business offering really smart technology aimed at such a clearly defined market” said Luyendyk. “The fleet vehicle sector is a potentially huge opportunity and the Echo team is very focused on that. In racing, efficiency is always an advantage and therefore I have a great appreciation of Echo’s dedicated approach. I am looking forward to supporting the company’s efforts and am very pleased to be affiliated with them.”

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Echo Automotive describes itself as a developer of technologies and products that allow for the cost effective conversion of existing vehicles into highly fuel efficient hybrids and plug-in hybrids.

The advisory board is comprised of the following members:

• John Formissano — former VP, Global Vehicles at FedEx Express
• Mike Rowland — Director of Advanced Customer Technologies for Duke Energy
• Chelsea Sexton — marketing expert and advocate of clean technologies; Executive Director of Plug In America
• Paul Mitchell — President and CEO of Energy Systems Network and previous Policy Director for Economic Development, Workforce and Energy for the Governor’s Office of Indiana
• Robert Sexton — former Southwest Regional Service Manager at Tesla Motors, Inc.
• Arie Luyendyk — two-time winner of the Indianapolis 500, respected professional racecar driver and advocate for automotive innovation
• Bill Wylam – Former Director at Delco Remy; Chief Engineer at Delphi; Chairman at Electricore Inc.; Member of Advisory Committee at Indiana Advance Electric Vehicle Training & Education Consortium; Member at DOE Hydrogen & Fuel Cell Advisory Committee

In early December, Echo’s Technical Advisory Board (TAB) met at a retreat to discuss the launch of its initial product offering, EchoDrive, a solution for aftermarket installation of an electric assist system for existing gasoline-powered small to mid-sized fleet vehicles, such as Ford E-250 vans and F-150 trucks.

At the retreat, TAB members also discussed the company’s corporate strategy, execution strategy, and product and technical reviews.

“The TAB brings perspective from unique aspects of the marketplace and further validates the Echo Automotive opportunity,” said Paul Mitchell, ECHO TAB member. “The Echo strategy is refreshing in the clean-tech space, and we’re proud to support Echo in Indiana and abroad.”

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