Hydrogen Engine Center Acquires TINA Energy Systems
2014年11月7日 - 6:42AM
ビジネスワイヤ(英語)
Hydrogen Engine Center, Inc. (“HEC”) (OTCBB: HYEG.PK),
(http://www.hydrogenenginecenter.com) announced today that they
have entered into an agreement of terms for the acquisition of
assets of TINA Technologies http://tina-systems.com/en/,
with the goal of producing the world’s first fully integrated
“renewable hydrogen-energy system” designed for 24/7 global
electrical production. After successful product testing and closing
the transaction, the companies believe they are poised to move
forward with production and distribution of integrated modular
units, under the name “HEC-TINA,” beginning Q1 2015. These units
will include Multi-fuel Internal Combustion Generators,
manufactured by HEC at its Iowa-based facility. The energy module
systems will be built in a leased 30,000 square foot facility in
Greeneville, Tennessee. Definitive documents are being finalized
and HEC expects the transaction to close on or about December 31,
2014.
Business operations for HEC-TINA will be conducted through a
wholly owned subsidiary to be organized prior to closing. As
payment for the TINA assets, HEC will issue to TINA warrants to
purchase 7,000,000 Shares exercisable before July 11, 2015 at a
price of $0.15 per Share and warrants to purchase 6,000,000 Shares
exercisable before July 11, 2016 at a price of $0.20. In addition,
HEC agrees to issue to TINA, and TINA agrees to purchase, 6,000,000
Shares at a price of $0.25 per Share. The first 840,000 shares have
been purchased and the remainder will be purchased over a period of
6 months. TINA’s President, Pedro Blach, will join VP Bill Ayres
and CEO Ted Hollinger on HEC's Board Of Directors.
HEC customers needed a reliable source of hydrogen and TINA has
developed an economical electrolyzer, which produces 99.999% pure
hydrogen from water at high pressures for storage without external
compression.
The HEC-TINA module (combining TINA’s high pressure electrolyzer
and HEC’s proprietary hydrogen fueled Genset will provide the first
mass-market energy storage systems. These systems will be installed
in 20” Sea Cargo containers that are versatile can be deployed to
remote locations around the world and designed for 24/7
operations.
The new HEC-TINA systems will focus on applications producing up
to 100 kilowatts using wind and solar electricity to produce Green
Hydrogen. HEC presently manufactures advanced proprietary Hydrogen
Internal Combustion Engines in 2 versions: a 1.7L wet sleeved two
cylinder system and a 4.9L wet sleeved six cylinder engine for
these systems.
“Applications with 'time of use' electricity limitations will
benefit from this latest technology system,” stated Ted Hollinger.
The new systems will be fully customizable for each application and
be ready for delivery Q3 2015.
One of the biggest assets of these systems is their ability to
convert electricity in one form and transform it to another. For
instance, Direct Current produced electricity from renewables is
converted to more commonly usable Alternating Current electricity.
This allows these systems to be deployed throughout the world.
HEC-TINA’s Washington DC office, (Info@HEC-TINA.com) is working
with, and expects to participate in the US Power Africa, World
Bank, Inter-American Development Bank remote distributed energy
programs.
HEC information is available on our website.
This press release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties, including without limitation, acceptance of the
Company's products, increased levels of competition for the
Company, new products and technological changes, the Company's
dependence on third-party suppliers, and other risks detailed from
time to time in the Company's communications.
Hydrogen Engine Center, Inc.Jerry Schaub, 319-540-2383
Hydrogen Engine Center (CE) (USOTC:HYEG)
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