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First National Energy Announces Sale of Shares of its Subsidiary Diesel Group System

April 25, 2023
First National Energy Announces Sale of Shares of its Subsidiary Diesel Group System

First National Energy Corporation (OTCBB:FNEC)

SARASOTA, FLORIDA, USA, April 25, 2023/ -- First National Energy Corporation (FNEC) announces the sale of 100% of the shares of Diesel Group System (DGS) originally purchased by FNEC on October 1, 2022, to the original sellers. The effective date of the return of control of DGS will be March 31, 2023.

As FNEC is eagerly anticipating further progress related to its revolutionary EcoBUV, the resale of Diesel Group System shares is a prudent move, enabling the company to concentrate on its steadfast commitment to growth while remaining open to exploring new opportunities and partnerships that align with its vision of a cleaner and more sustainable future.

Recently, FNEC acquired a world patent for an innovative engine that has the potential to revolutionize the automotive industry. The engine sparked immediate interest from car companies and strategic partners to create a sustainable and affordable vehicle, which FNEC now calls the "EcoBUV." In order to devote its best efforts to this exciting development, FNEC carefully evaluated its priorities and decided to resell DGS to its original owners.

Looking ahead, FNEC will continue to collaborate with automakers and disruptors in clean propulsion systems. The company believes that partnerships and collaborations across industries are crucial in the transition to clean energy. By working together, FNEC and its partners will drive innovation, promote sustainable practices, and potentially lead the way in clean energy. FNEC is confident that its commitment to sustainability will not only benefit the environment but also create long-term value for its stakeholders.

About First National Energy:
First National Energy Corporation, trading as FNEC for over two decades, is an established player in the renewable energy sector. The company is committed to reducing greenhouse gas emissions and enhancing sustainability through its investments in cutting-edge sustainable technologies. FNEC has been acquiring a wealth of assets and expertise that position the company to succeed in today’s modern sustainable conscious environment. In addition to its established and efficient turbines that are used worldwide, the company possesses a patented internal combustion engine that could transform fuel efficiency and significantly decrease pollution. Overall, First National Energy Corporation is dedicated to making a positive impact on the world and is actively pursuing this goal through its new mission and investment in innovative technologies.

Forward-Looking Statements:
This press release contains "forward-looking statements" including, but not limited to, statements regarding product commercialization plans, integration with other products, our business plans and strategies, anticipated advantages for global sales, expected cost savings, and anticipated product performance. These forward-looking statements are based on current assumptions, expectations and beliefs, and involve substantial risks and uncertainties that may cause results to materially differ from those expressed or implied by these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, regulatory changes, our ability to manage our strategic relationships, and fluctuations or declines in the performance of our products and solutions. All forward-looking statements in this press release are based on information currently available to us, and we assume no obligation to update these forward-looking statements in light of new information or future events.

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