HydroGenetics, Inc. Signs Binding Letter of Intent With Developer of Super Efficient Magnetic Drive System
April 16 2009 - 8:20AM
Marketwired
HydroGenetics, Inc. (PINKSHEETS: HYGN) announced today it signed a
binding letter of intent to purchase the rights to further develop
a magnetic device that has the potential to shatter conventional
physics law as we know it. The device has multiple industrial
applications for loosely coupled right angled drives. The inventor
has extensive experience in engineering, and has developed two
prototypes inspected by management. The intellectual property
rights to the technology will be owned by the company. Testing by
international experts is underway to establish efficiency results
and assess applications.
"This is a very significant relationship and acquisition right
for the company to solidify," says CEO Charles Hansen III. "We are
confident, though cautiously optimistic, that the experts assembled
to assess this machine will discover something quite unique about
our machine. As has been the case from day 1 with HydroGenetics, we
are committed to discovering and developing new and emerging green
solutions."
About HydroGenetics, Inc.
HydroGenetics, Inc. is an alternative energy company. The
company's mission is to acquire and develop alternative and "green"
technology companies into revenue producing, profitable businesses,
utilizing investment capital and other resources including
management and strategic planning to increase shareholder value.
HydroGenetics, Inc.'s wholly owned subsidiary, HydroAxis
Technologies, Inc., is currently developing "green hydrogen
generating technology systems for any internal combustion engine,"
which will significantly reduce gasoline consumption in existing
and new vehicles.
Forward-Looking Statements
Statements in this press release relating to plans, strategies,
economic performance and trends, projections of results of specific
activities or investments, and other statements that are not
descriptions of historical facts may be forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995, Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. Forward-looking information
is inherently subject to risks and uncertainties, and actual
results could differ materially from those currently anticipated
due to a number of factors, which include but are not limited to,
risk factors inherent in doing
Contact: Mark Balbirer 305-573-0821
Hydrogenetics (CE) (USOTC:HYGN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Hydrogenetics (CE) (USOTC:HYGN)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Hydrogenetics Inc (CE) (OTCMarkets): 0 recent articles
More HydroGenetics, Inc. News Articles