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Posted On: 03/09/2023 9:21:27 AM
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Genesis Electronics Group’s Glīd Joins The Teaming Partner List for ARPA-E's Potential Upcoming Program on Intermodal Freight ModelingJoining the Teaming Partner List for ARPA-E will allow Glīd to be a part of an exclusive list of Companies aimed at solving large industry problems
GLOBENEWSWIRE 4:01 PM ET 3/8/2023
Symbol Last Price Change
GEGI 0.0009down 0 (0%)
QUOTES AS OF 12:00:00 AM ET 03/08/2023
Salt Lake City, UT, March 08, 2023 (GLOBE NEWSWIRE) -- Genesis Electronics Group’s GlīdJoins The Teaming Partner List for ARPA-E's Potential Upcoming Program on Intermodal Freight Modeling
Joining the Teaming Partner List for ARPA-E will allow Glīd to be a part of an exclusive list of Companies aimed at solving large industry problems
Salt Lake City, UT – March 8, 2023 – Genesis Electronics Group, Inc.(GEGI) , the maker of the autonomous road-to-rail patent-pending shipping technology Glīd, announced that its Subsidiary Glīd has joined The Teaming Partner List for ARPA-E's potential upcoming program on Intermodal Freight Modeling.
The new Exploratory Topic under Funding Opportunity Announcements (FOAs) DE‐ FOA‐0002784 and DE‐FOA‐0002785 are to develop modeling tools to assist in the optimization of the national intermodal freight transportation system. The tools will provide guidance in both deployment of future low-carbon infrastructure and assets, as well as operational logistics improvements to minimize transportation-related energy and emissions while maximizing resiliency.
Programs and funding opportunities led by the government are currently targeted towards enhancing, modernizing, and sustaining intermodal transportation in the United States as the world continues to explore areas to decarbonize freight logistics while significantly lowering greenhouse gas (GHG) emissions. It is reported that freight transportation accounts for over 10% of total emissions globally with rail and road transport accounting for a large percentage of that number. Up until now light through heavy duty ground vehicles have been the primary focus for clean energy efforts, however it is becoming ever more apparent that the attention towards rail innovation and safety is warranted in the United States.
“Significant opportunities for emissions and energy reduction exist via operational improvements and optimization, but the extreme complexity of the system makes it near impossible for any one entity to realize these. We're trying to change that!”, stated a fellow at APRA-E, Department of Energy (DOE).
According to the DOE website: “The intermodal freight industry has a good sense for what technology options will be available (e.g., battery energy storage, hydrogen fuel cells, zero carbon fuels), and approximate costs – but the execution and rollout strategy, on both spatial and temporal dimensions, is still unclear. These are significant financial decisions, and upcoming choices, such as on which fuel to commit a fleet to, could accelerate or delay national decarbonization timelines by years. It is vital that the industry work together and coordinate to maximize efficiency and effectiveness of this deployment. There are currently no comprehensive models of the intermodal system’s energy demands and supplies, especially including overlap and shared infrastructure between modes. This will require synthesis and coordination of many different information streams.”
Kevin Damoa, CEO of Genesis Electronics Group(GEGI) commented, “Our primary goals are to produce a streamlined transportation process, while eliminating excess waste to include cargo processing (i.e. cross docking, transloading, etc.), automate resource intense operations, and increase logistics program and functional safety, while delivering a quality product that reduces life cycle cost, increases profitability to the end user at the lowest carbon footprint.”
Given the many challenges associated with modeling the extreme complexity of the freight system, there exists no comprehensive plan to direct how freight decarbonization should be achieved. Innovation within and across sectors will be required to identify new optimal strategies. If issued, this Exploratory Topic will likely consist of two complementary tasks.
(1) Intermodal Infrastructure Model: Develop models of the national intermodal freight transportation network (i.e., moving freight by two or more modes of transportation -- e.g., trucks, trains, and cargo ships) that enable prioritization for energy infrastructure deployment, along with data required for the effective deployment of this optimized distribution system.
(2) Intermodal Logistics Model: Develop models of the national intermodal freight transportation system that enable predictive and responsive optimization of modal choice, inter- or intra- modal transfer, or routing.
Glīd will be joining a team consisting of large corporations, legacy companies, college institutions, research facilities, scientist, engineers, and the most brilliant minds in rail to road electrification and safety enhancements in the United States of America. They are hopeful that their transformative, autonomous road-to-rail hardware and safety solution accompanied by their fleet software and service can support in the development and adoption of a better way to move freight.
“We are excited to join and contribute on a team dedicated to improving the intermodal eco-system for a better tomorrow, now!” Continued Kevin Damoa, CEO, Genesis Electronics(GEGI).
More on the Funding Opportunity Announcement (FOA). Can be found: https://arpa-e-foa.energy.gov/Default.aspx#Fo...bb1eaff4ee
About Genesis Electronics Group, Inc.
Genesis Electronics Group (GEGI), through Its wholly-owned subsidiary Glīd, is building first of Its kind autonomous road-to-rail shipping vehicles called Glīders. Glīders will enable fully-loaded semi trailers access to rails where traditionally it didn’t make sense. Genesis Electronics Group(GEGI) plans on owning and operating each Glīder in its fleet, and providing a “Glider-as-a-Service” business model.
Forward-Looking Statements
This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual disclosure report on the OTC Markets for the year ended December 31, 2020. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.
Press Contact:
Genesis Electronics Group, Inc.(GEGI)
communications@genesis-electronics.com
Image: https://www.globenewswire.com/newsroom/ti?nf=...IwMTk1ODY=
Image: https://ml.globenewswire.com/media/NzAzYTM2ZT...p-Inc-.png
Image: Primary Logo
Source: Genesis Electronics Group, Inc.(GEGI)
2023 GlobeNewswire, Inc.
All Content and Data provided by Third-Parties — Terms of Use
Genesis Electronics Group’s Glīd Joins The Teaming Partner List for ARPA-E's Potential Upcoming Program on Intermodal Freight ModelingJoining the Teaming Partner List for ARPA-E will allow Glīd to be a part of an exclusive list of Companies aimed at solving large industry problems
GLOBENEWSWIRE 4:01 PM ET 3/8/2023
Symbol Last Price Change
GEGI 0.0009down 0 (0%)
QUOTES AS OF 12:00:00 AM ET 03/08/2023
Salt Lake City, UT, March 08, 2023 (GLOBE NEWSWIRE) -- Genesis Electronics Group’s GlīdJoins The Teaming Partner List for ARPA-E's Potential Upcoming Program on Intermodal Freight Modeling
Joining the Teaming Partner List for ARPA-E will allow Glīd to be a part of an exclusive list of Companies aimed at solving large industry problems
Salt Lake City, UT – March 8, 2023 – Genesis Electronics Group, Inc.(GEGI) , the maker of the autonomous road-to-rail patent-pending shipping technology Glīd, announced that its Subsidiary Glīd has joined The Teaming Partner List for ARPA-E's potential upcoming program on Intermodal Freight Modeling.
The new Exploratory Topic under Funding Opportunity Announcements (FOAs) DE‐ FOA‐0002784 and DE‐FOA‐0002785 are to develop modeling tools to assist in the optimization of the national intermodal freight transportation system. The tools will provide guidance in both deployment of future low-carbon infrastructure and assets, as well as operational logistics improvements to minimize transportation-related energy and emissions while maximizing resiliency.
Programs and funding opportunities led by the government are currently targeted towards enhancing, modernizing, and sustaining intermodal transportation in the United States as the world continues to explore areas to decarbonize freight logistics while significantly lowering greenhouse gas (GHG) emissions. It is reported that freight transportation accounts for over 10% of total emissions globally with rail and road transport accounting for a large percentage of that number. Up until now light through heavy duty ground vehicles have been the primary focus for clean energy efforts, however it is becoming ever more apparent that the attention towards rail innovation and safety is warranted in the United States.
“Significant opportunities for emissions and energy reduction exist via operational improvements and optimization, but the extreme complexity of the system makes it near impossible for any one entity to realize these. We're trying to change that!”, stated a fellow at APRA-E, Department of Energy (DOE).
According to the DOE website: “The intermodal freight industry has a good sense for what technology options will be available (e.g., battery energy storage, hydrogen fuel cells, zero carbon fuels), and approximate costs – but the execution and rollout strategy, on both spatial and temporal dimensions, is still unclear. These are significant financial decisions, and upcoming choices, such as on which fuel to commit a fleet to, could accelerate or delay national decarbonization timelines by years. It is vital that the industry work together and coordinate to maximize efficiency and effectiveness of this deployment. There are currently no comprehensive models of the intermodal system’s energy demands and supplies, especially including overlap and shared infrastructure between modes. This will require synthesis and coordination of many different information streams.”
Kevin Damoa, CEO of Genesis Electronics Group(GEGI) commented, “Our primary goals are to produce a streamlined transportation process, while eliminating excess waste to include cargo processing (i.e. cross docking, transloading, etc.), automate resource intense operations, and increase logistics program and functional safety, while delivering a quality product that reduces life cycle cost, increases profitability to the end user at the lowest carbon footprint.”
Given the many challenges associated with modeling the extreme complexity of the freight system, there exists no comprehensive plan to direct how freight decarbonization should be achieved. Innovation within and across sectors will be required to identify new optimal strategies. If issued, this Exploratory Topic will likely consist of two complementary tasks.
(1) Intermodal Infrastructure Model: Develop models of the national intermodal freight transportation network (i.e., moving freight by two or more modes of transportation -- e.g., trucks, trains, and cargo ships) that enable prioritization for energy infrastructure deployment, along with data required for the effective deployment of this optimized distribution system.
(2) Intermodal Logistics Model: Develop models of the national intermodal freight transportation system that enable predictive and responsive optimization of modal choice, inter- or intra- modal transfer, or routing.
Glīd will be joining a team consisting of large corporations, legacy companies, college institutions, research facilities, scientist, engineers, and the most brilliant minds in rail to road electrification and safety enhancements in the United States of America. They are hopeful that their transformative, autonomous road-to-rail hardware and safety solution accompanied by their fleet software and service can support in the development and adoption of a better way to move freight.
“We are excited to join and contribute on a team dedicated to improving the intermodal eco-system for a better tomorrow, now!” Continued Kevin Damoa, CEO, Genesis Electronics(GEGI).
More on the Funding Opportunity Announcement (FOA). Can be found: https://arpa-e-foa.energy.gov/Default.aspx#Fo...bb1eaff4ee
About Genesis Electronics Group, Inc.
Genesis Electronics Group (GEGI), through Its wholly-owned subsidiary Glīd, is building first of Its kind autonomous road-to-rail shipping vehicles called Glīders. Glīders will enable fully-loaded semi trailers access to rails where traditionally it didn’t make sense. Genesis Electronics Group(GEGI) plans on owning and operating each Glīder in its fleet, and providing a “Glider-as-a-Service” business model.
Forward-Looking Statements
This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual disclosure report on the OTC Markets for the year ended December 31, 2020. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.
Press Contact:
Genesis Electronics Group, Inc.(GEGI)
communications@genesis-electronics.com
Image: https://www.globenewswire.com/newsroom/ti?nf=...IwMTk1ODY=
Image: https://ml.globenewswire.com/media/NzAzYTM2ZT...p-Inc-.png
Image: Primary Logo
Source: Genesis Electronics Group, Inc.(GEGI)
2023 GlobeNewswire, Inc.
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