GreenTech Automotive Announces Agreement With Danish Company Greenabout To Provide American-Made MyCars For Sale In Denmark

GreenTech Chairman Terry McAuliffe Says New Agreement Accelerates American Job Creation And Achieving Affordable Green Energy Goals

McLean, Virginia, September 7, 2011 – Terence R. McAuliffe, Chairman of GreenTech Automotive, Inc. (GTA), has announced a distribution agreement with the Danish partnership Greenabout A/S for the American-made MyCar. Under the terms of the agreement, Greenabout, a Danish company that distributes electric vehicles and related products and services, will purchase a sizeable percentage of GTA's MyCar production through 2014.

"This agreement is a major step in the relationship we have proudly formed with Danish leaders," said McAuliffe. "We share a desire to create and utilize affordable green transportation and with this MyCar agreement, we are making broad strides to begin selling our American-made MyCars throughout Europe. Not only does this agreement reflect our principles of affordable green energy, it also means new manufacturing jobs in America."

Greenabout CEO Per Boesen expressed excitement for the new MyCar agreement. "GreenTech's MyCar is proof that it is possible to create high-quality, sustainable products. We will be helping to reduce carbon emissions and creating new jobs in Denmark and elsewhere across the globe," Boesen said. Earlier this year, Denmark released its ambitious, highly-praised "Energy Strategy 2050," which calls for the creation of a fossil-free energy network, independent from oil, coal, and gas by the year 2050. In 2010, the government eliminated its massive 180% car registration tax for those who purchase an electric vehicle, which significantly encouraged electric vehicle usage.

McAuliffe has long praised Denmark's green leadership, such as the Bornholm "Bright Green Island" efforts which included a test market for MyCar, year-round sustainable housing construction projects, and complex R&D efforts. He has also noted their efforts in biomass energy, such as the installation of new wind turbines generating nearly 40 megawatts of power. "Innovations across the globe can only encourage continued innovation andgreen job growth for the United States," McAuliffe said.

As part of the ongoing relationship between GTA and Greenabout, executives of both companies will also attend the first Global Green Growth Forum in Copenhagen on October 11-12, 2011. That conference is an effort to establish electric vehicle standards in the EU.

About GreenTech Automotive (GTA) – GreenTech Automotive (www.wmgta.com) is a U.S. automobile manufacturing company headquartered in McLean, Virginia committed to the advancement of clean automobile technology. GTA is developing vehicles that are energy-efficient, affordable, and built in the United States by American workers. Led by Terry McAuliffe, an international leader in politics, business, and green energy advocate, GTA was established to carry out his vision that "no green technology is truly green unless it is affordably green."

About Greenabout A/S – Greenabout A/S (www.greenabout.dk) is a Danish company that distributes electric vehicles and related products and services. The company also specializes in green tech strategy and product development through partnerships with international corporations and municipalities. Greenabout A/S is also a partner in the European electric vehicle (EV) infrastructure project GreeneMotion.

Contacts:
GTA: Tracy Sefl, (703) 666-9001, tracy.sefl@wmgta.com
Greenabout: Lene Grønning, + 45 30702061, lene@greenabout.dk

GreenTech Automotive Announces Agreement With Danish Company Greenabout To Provide American-Made MyCars For Sale In Denmark

Danish Agreement Accelerates American Job Creation And Achieving Affordable Green Energy Goals

Bornholm - Bright Green Island 2010

Introducing the new GTA MyCar.