April 25, 2006
We had a number of special guests visit our facilities in the last few days. New YorkState Senator Joseph Robach, Legislative Aide Janine Sarkis, the Honorable Stephen Lindley and Sande Macaluso. After his visit, Senator Robach agreed to share his thoughts with our shareholders through a Guest CEO Update.
We wish to publicly thank our visitors for their interest and time. We also wish to express our appreciation to Senator Robach, not only for his Update, but also for his sincere promise of support, including future meetings with appropriate New York State authorities under his direction.
Senator Joseph Robach
It is no secret that the ongoing energy crisis is having a severe impact on upstate New York. We in the New York Senate are combating this crisis, first passing my bill (S5968) to cap the state sales tax on gasoline, saving consumers about $240 million annually, and second, passing an energy plan that would provide a $350 million refundable tax credit that would help 386,000 eligible small businesses across New York State afford the rising cost of energy. (For more on this bill and others visit my website www.senatorjoerobach.com)
Recently, I visited Torvec’s facilities on the very day oil prices hit $70 a barrel. I came away convinced that we have the solution to the energy crisis right here in Rochester. I saw Torvec’s infinitely variable transmission in operation. To coin a phrase, this is the “real deal” and its use will, I am sure, dramatically reduce fuel consumption across the board --- cars, SUVs, trucks, buses, especially school buses. The cost savings to our financially strapped school districts could be enormous.
Speaking of school buses and the safety of our children, I also rode in Torvec’s 350Z equipped with their Iso-Torque differential. I am not an “automotive expert” but even I could see and feel the increased control and ease of handling of the Z, especially when the drive wheels came into contact with loose gravel, wet grass and dirt over the terrain Keith Gleasman and I drove. The Iso-Torque differential is a tremendous safety device which we all would want to have for our family vehicles, our school buses, emergency and police vehicles.
I am excited about Torvec and its products and will be working to make sure New York State gets behind this truly revolutionary technology for the benefit of our community, upstate New York, our nation and yes, even the world.
Sincerely,
Joseph E. Robach
Senator - NYS
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Senator Joseph E. Robach
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