The formal closing of the transaction is expected before 30 June 2011.
Global Energy has developed an in-vehicle hydrogen generator that is expected to improve fuel efficiency by at least 20%.
The method uses the surplus power from a vehicle’s alternator to break up water into oxygen and hydrogen.
The hydrogen is then routed into the air intake manifold and then into the combustion chamber.
Green Planet Group president and CEO Edmond Lonergan said the hydrogen technology supplements their current Xentx products by adding a new dimension to the company’s efforts to improve fuel efficiency and reduce harmful emissions.
"Coupled with Xentx Extreme Engine Treatment, total fuel economy will be increased by approximately 26%. Field tests will begin within 10 days to confirm our performance projections," Lonergan said.
