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 don’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 50’s and 60’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 government’s focus on the computer industry. Ellison’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 government’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, Monsato’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 Obama’s primary goal of being environmentally conscious and saving consumers’ money.
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