The United States is well-known for technological advances since our nation was founded. The telegraph, the light bulb, and the sewing machine are just a sample of the early entrepreneurial spirit in our country. But what people donâ€™t seem to know is that by the government has played a huge role in the development of many ground-breaking industries. With the Obama administration focused on the development of environmentally-friendly fuel alternatives, Greenchek Technology Inc (GCHK.OB) is a company on the cusp of tremendous growth.
A brief look at history confirms that when the U.S. government backs a new technology, the niche many times ends up flourishing. In the 1940s, the government backed the defense industry and it grew exponentially and remains strong to this day. The 50â€™s and 60â€™s saw an explosion of activity in the automotive, aviation, and electronics industries. When the Department of Defense put a focus on the fledgling microchip industry, the computer science industry suddenly became a viable sector.
Larry Ellison is one person who benefited from the governmentâ€™s focus on the computer industry. Ellisonâ€™s company, Oracle, created the complex but user-friendly software that the smaller and faster computers would use. When Ellison founded Oracle in the 1980s, it traded as a penny stock and was able to secure a small contract with the Central Intelligence Agency. Some of those that followed the governmentâ€™s lead and purchased Oracle when it was just a penny stock realized gains of over 8,000%. Just over 20 years after Oracle was founded, Ellison is now ranked 14th on the Forbes list of wealthiest people in the world.
A more recent example is in 2005 when President Bush passed the Energy Policy Act that included a mandate to increase the amount of bio-fuel mixed with gas sold in the United States. Ethanol has proven to be a key additive and since 2005 the yearly ethanol production has more than doubled. Monsato is an agricultural company that has a division that sells genetically modified corn, which is used as a raw material for ethanol. Prior to 2005, Monsato stock traded around $17 per share. Since the passing of the Energy Policy Act, Monsatoâ€™s stock has soared upwards of $140 per share, which resulted in more than 748% gain for some investors.
With the passing of the stimulus package, the alternative fuel sector will receive four times as much funding than previously allocated. Greenchek has developed a hydrogen injection technology that has been proven to reduce the amount of emissions and reduce automotive fuel consumption. The Greenchek technology meets President Obamaâ€™s primary goal of being environmentally conscious and saving consumersâ€™ money.
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