Spokane, Washington, July 02, 2018 (GLOBE NEWSWIRE) -- REGI U.S., Inc. (“REGI” or “RGUS” or "the Company") RGUS (OTCMKTS) The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc., are pleased to announce the achievement of a major milestone in the development of the RadMax sliding axial vane gas expander .
Continued development and testing of the gas expander prototypes have demonstrated overall efficiencies greater than 70 percent, a significant technical milestone. Future development and testing is expected to further increase efficiencies, into the mid-80 percent range by utilizing more advanced bearings, coatings, and other friction reducing technologies. Testing has also shown that the device’s power curve as similar to other positive displacement engines, and is characterized by a broad peak with high torque.
Having reached this baseline milestone, product development is now shifting to designing proof-of-concept expanders for custom applications. Targeted applications for the RadMax TPX (expander) and TPXG (expander/generator) include, replacement of existing “non-power generating” expansion and pressure regulation valves in air conditioning, refrigeration and natural gas distribution systems. Use of the RadMax TPXG in these applications captures this lost energy, and generates electricity that can be used to power parasitic devices or be sold back into the power grid. RadMax Technologies is currently communicating with government agencies and industry leading companies in each of these large markets, to identify opportunities to reduce the environmental footprint of their existing products, and encourage the use of the RadMax technology in future products. If RadMax technology devices were fully implemented in all relevant air conditioning and refrigeration applications, 50 – 150 billion kWh of electricity worth $5 - $15 billion and up to 150 million metric tons of CO 2 fossil fuel related emissions could be saved annually in the U.S.
We encourage all investors and interested parties to follow our progress routinely posted on our website radmaxtech.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Regi U.S., Inc. Michael S. Urso, CEO
ABOUT REGI U.S., INC
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is a research and product development company that is designing, developing and proving a family of smaller, lighter and more energy-efficient rotary engines, compressors, pumps and gas expanders for civilian, commercial and government applications. Our focus is on developing advanced devices that reduce carbon footprint, reduce device size, weight and parts counts, and increase fuel and manufacturing efficiencies. Based on our innovative and patented RadMax axial van-type technology, our devices are designed for high output to weight ratio and are easily scalable from small to very large. For more information, please visit radmaxtech.com
READER ADVISORY
Statements in this press release regarding the business of and REGI U.S, Inc. (together the “Companies’”) which are not historical facts are "forward-looking statements" that involve risks and uncertainties, certain of which are beyond the Companies' control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: the impact of competitive products and pricing, the Companies' dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Companies or develop or license other functionally equivalent technologies; financing requirements; changes in laws, rules and regulations applicable to the Companies and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Companies’ actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in Regi U.S., Inc.’s financial statements, management discussion and analysis and material change reports filed with the United States
Securities and Exchange Commission at www.sec.gov, and REGI’s Form 10-K annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Companies will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Companies or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Companies do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
CONTACTS: (509) 474-1040 info@radmaxtech.com 7520 N. Market St. STE # 10 Spokane, WA. 99217-7800
