NEWS AXXA Primed to Transform the Green Energy Industry >
NEW YORK, Oct. 24, 2019 (GLOBE NEWSWIRE) -- Exxe Group Inc. (OTC PINK: AXXA), a diversified company focused on synergistic acquisitions in real estate, sustainable technology, media, financial services, and agribusiness, today announced that through its subsidiary, finalized and acquired a controlling interest in Mylestone Capital GmbH, a parent company, for game changing breakthrough innovation in sustainable heating industry. Mylestone Capital GmbH has a revolutionary heating system based on infrared technology that is already distributed and installed throughout Europe. Given the broad shift away from fossil fuels on a global scale, this patented technology can be deployed as an efficient, cost-effective alternative energy source to markets that could reach $500 billion annually.
Acquisition Overview and Expectations
Currently valued at $20 million, Exxe Group projects its controlling stake shall be worth a figure substantially greater, and thus the Company with its partners, plans to budget $10 million for the first phase of global rollout, as the technology is broadly deployed in markets across the globe. In 2018, the Technology generated over $1.7 million in sales across Europe, with a healthy 15% EBITDA margin. At present, EXXE Group Inc. believes that with its distribution channels and leadership behind it, total sales could grow exponentially over the next few years and implement the leap into the North American and APAC market. Mylestone’s offering represents a near term $500 million market and revenue opportunity and management believes that as broad deployment occurs, it could grow at a rate well above the global renewable energy industry.
The end use markets are broad and deep as this approach can be distributed to and then applied to heat commercial and residential buildings, factories, vehicles, and can generate substantial energy consumption savings and uniform heating in the industrial, aviation, aerospace, and defense sectors. One of the key target markets Exxe Group plans to exploit is oil refineries along with other outdoor opportunities in cold climates.
Mylestone, which itself represents the combination of two entities, offers an innovative heating technology capable of operating with low-voltage electricity (radiant heat) based on the utilization of carbon fiber. As a result, the production and distribution of highly efficient and uniform surface heating for walls, ceilings and floors through photovoltaics is attained.
The heating coat can be applied to virtually any type of surface on walls, ceilings and floors, and attain uniform heating of all of the applied surfaces, fostering fast comfortable temperatures. Moreover, with a permanent cool but not dry air there is little risk of condensation (catalyst for mold), and eliminates the air stirred up inside the structure driving one’s allergies. Keys to innovation include its easy application, low energy consumption with high efficiency and no loss of performance. Plus, it enables dynamic, swift heating, and the low-voltage technology that distributes the heating requires little maintenance.
Doctor Eduard Nazmiev, PhD, CEO of Exxe Group, said: “With this acquisition, EXXE Group Inc. has taken another significant step in the implementation of our growth strategy, particularly in the sustainable energy space, creating entry into a multi-billion dollar future market. We are excited to be able to acquire a majority stake in a high-growth and profitable company with such innovative technology and such broad potential.”
Boris Matsokhin, Managing Director of Strategy, added: “We plan to strongly invest in the distribution of Mylestone’s offering given the clear financial and environmental advantages inherent in the technology versus competing products and approaches. Thus, we expect to ultimately position Mylestone as the standard for sustainable, heating technology across all industries, structures, and vehicles.”