HEC Finalizes Agreement with TINA Energy Systems

Ted Hollinger, President and CEO of “Hydrogen Engine Center”[HEC], has announced that an agreement between HEC and TINA Energy Systems, S.L., a Spanish Sociedad Limitada, (“TINA”) was finalized on January 27, 2015. Mr. Hollinger believes this agreement represents a major step forward for HEC.

Under the Agreement, HEC-TINA a newly formed, wholly owned subsidiary of HEC, is purchasing intellectual property and other assets of TINA, and as consideration for the assets, HEC is issuing warrants entitling TINA to purchase up to 13,000,000 HEC shares at $0.15/share. Warrants for 7,000,000 shares may be exercised on or before September 30, 2015. Warrants for 6,000,000 shares may be exercised on or before September 30, 2016. HEC-TINA is a Nevada corporation with operations to be based in Tennessee. The common stock of the public holding company, which is a Nevada corporation, is traded under “Hydrogen Engine Center” (HYEG).

Under the agreement, TINA agrees to purchase additional HYEG Shares at $0.25 per share for an aggregate amount of $1,500,000. Following the purchase of these shares, and assuming the exercise of all warrants, TINA would own approximately 34.4% of outstanding HYEG shares. Pedro Blach, sole director of TINA, will be appointed to the boards of directors of HEC and of HEC-TINA.

Ted Hollinger and Pedro Blach are pioneers in the development of the hydrogen industry. They have been working independently, across the globe from each other, for the past 15 years. Individually, they were working to bring pollution-free hydrogen to the forefront of the energy marketplace, providing a major source of green energy. Both men have been working on different parts of the hydrogen equation; however, each inventor was one step short.

Mr. Hollinger states that, by bringing the technology of the two companies together, HEC will be much stronger and have the necessary pieces to be successful in a “hydrogen economy”. HEC-TINA now has the necessary technology to economically produce renewable hydrogen (electrolysis), at direct high pressure without additional compression, which allows its storage and later use in hydrogen gensets to convert the stored hydrogen back to electricity.

The company currently has two plants; one in Algona, IA, and a new plant is being readied in Greeneville, TN. The new plant was located in TN, to be closer to shipping ports, since much of the company’s future business is expected to come from international markets. The Greeneville area has the necessary experienced labor pool to operate the production facility.

A demo “Multipurpose HEC-TINA Energetic Module” will be located in the Tennessee facilities and will be ready for marketing and customers promotion purposes before the end of April 2015. Production in the Tennessee plant is planned to begin by the 3nd quarter of 2015. The initial production for the first twelve months is estimated to be 44 units, rising to 1000 units in the fifth year. Each standard unit is expected to be sold for $160,000 to $200,000.

The standard unit is housed in a 20 ft steel shipping container. The containers will be built in such a way that they will bring electricity, communications (including cell telephone service, internet and VoIP, and TV), educational services, health assistant and a small workshop with small electrical tools, to remote locations.

It is estimated that there are as many as 1.3 billion people in the world that do not have access to electricity. It is also estimated that another like number of people do not have adequate or dependable access to electricity. The new HEC-TINA modules are targeted to bring relief to as many of these areas as possible. HEC has received robust interest in the new modules.

HEC plans to continue to design and build hydrogen gensets, ranging in size from 5 kW to 200 kW. The company is one of the leaders in producing hydrogen gensets. The company expects to continue to compete in this market in the future.

Hydrogen Engine CenterJerry Schaub, 319-540-2383gdschaub@gmail.com

Hydrogen Engine Center (CE) (USOTC:HYEG)
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