$GEGI .0017 NEWS All Content and Data provided
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Posted On: 06/12/2023 9:39:55 AM
$GEGI .0017 NEWS
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Genesis Electronics Group Announces Manufacturing Partnership With Bart ManufacturingStrategic Manufacturing Partner will provide valuable expertise in the manufacturing and delivering of Glīd Beta Units
GLOBENEWSWIRE 3:01 AM ET 6/12/2023
Symbol Last Price Change
GEGI 0.0017down 0 (0%)
QUOTES AS OF 12:00:00 AM ET 06/09/2023
Salt Lake City, UT, June 12, 2023 (GLOBE NEWSWIRE) -- Salt Lake City, UT – June 12, 2023 – Genesis Electronics Group, Inc.(GEGI) , the maker of the autonomous road-to-rail patent-pending shipping technology, Glīd, announced that it has signed a binding exclusive manufacturing partnership agreement with Bart Manufacturing, Inc. to build Glīd units.
Glīd and Bart also confirmed that production of the all-electric Glīd units is projected to start at the end of the summer once final joint design for manufacturing activities are completed, at Bart’s world-class manufacturing facility in Stockton, CA, where they have provided engineered solutions in Technology, Automotive, Aerospace, Industrial Systems, Consumer Electronics and Solar Industries for companies.
“From the start of this partnership, Glīd and Bart aligned very quickly on the importance of delivering a high-quality product that will support, at such a crucial time, as short line rail operators look to identify a decarbonized and safer solution across the United States,” said GEGI and Glīd’s CEO, Kevin Damoa.
This agreement is broad-based and comprehensive, covering planned volumes, manufacturing costs and quality metrics required to meet the company’s first projected milestone to complete the first 10 sets of Beta units that will be deployed in the field to prove out the durability, reliability, and quality of the product. The learnings from the Beta Program will be applied to Glīd and Bart’s commercialization program’s lifecycle through 2029 which will cover all stages, including the critical planning and launch phases.
“Our customized electro mechanical manufacturing approach, combining all elements of our product and services portfolio, makes Bart’s proposition highly competitive – in capital efficiency, launch reliability and speed to market,” said Bart President, Joel Weissbart. “Our collaboration with Glīd is an excellent example demonstrating the unique capabilities Bart offers as the go-to supplier when it comes to delivering world-class technologies and apparatus for our customers.”
This partnership leverages the deep experience Glīd executives have working with Bart on previous projects at other companies and will provide opportunities to increase volumes with the Glīd units or other Glīder architecture variants, as well as collaboration on efficiencies in the production process that may drive post-launch manufacturing, material, component, and cost innovations.
“We are delighted to partner with Glid and support in bringing this vision to reality,” stated Trevor Weissbart, Vice President of Bart Manufacturing, “ We feel that this bleeding edge technology combined with our goal to achieving carbon neutrality is an important corporate goal and integral to our purpose to help build a better world,”
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
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Image: https://ml.globenewswire.com/media/MTA4ZWVhYz...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 Announces Manufacturing Partnership With Bart ManufacturingStrategic Manufacturing Partner will provide valuable expertise in the manufacturing and delivering of Glīd Beta Units
GLOBENEWSWIRE 3:01 AM ET 6/12/2023
Symbol Last Price Change
GEGI 0.0017down 0 (0%)
QUOTES AS OF 12:00:00 AM ET 06/09/2023
Salt Lake City, UT, June 12, 2023 (GLOBE NEWSWIRE) -- Salt Lake City, UT – June 12, 2023 – Genesis Electronics Group, Inc.(GEGI) , the maker of the autonomous road-to-rail patent-pending shipping technology, Glīd, announced that it has signed a binding exclusive manufacturing partnership agreement with Bart Manufacturing, Inc. to build Glīd units.
Glīd and Bart also confirmed that production of the all-electric Glīd units is projected to start at the end of the summer once final joint design for manufacturing activities are completed, at Bart’s world-class manufacturing facility in Stockton, CA, where they have provided engineered solutions in Technology, Automotive, Aerospace, Industrial Systems, Consumer Electronics and Solar Industries for companies.
“From the start of this partnership, Glīd and Bart aligned very quickly on the importance of delivering a high-quality product that will support, at such a crucial time, as short line rail operators look to identify a decarbonized and safer solution across the United States,” said GEGI and Glīd’s CEO, Kevin Damoa.
This agreement is broad-based and comprehensive, covering planned volumes, manufacturing costs and quality metrics required to meet the company’s first projected milestone to complete the first 10 sets of Beta units that will be deployed in the field to prove out the durability, reliability, and quality of the product. The learnings from the Beta Program will be applied to Glīd and Bart’s commercialization program’s lifecycle through 2029 which will cover all stages, including the critical planning and launch phases.
“Our customized electro mechanical manufacturing approach, combining all elements of our product and services portfolio, makes Bart’s proposition highly competitive – in capital efficiency, launch reliability and speed to market,” said Bart President, Joel Weissbart. “Our collaboration with Glīd is an excellent example demonstrating the unique capabilities Bart offers as the go-to supplier when it comes to delivering world-class technologies and apparatus for our customers.”
This partnership leverages the deep experience Glīd executives have working with Bart on previous projects at other companies and will provide opportunities to increase volumes with the Glīd units or other Glīder architecture variants, as well as collaboration on efficiencies in the production process that may drive post-launch manufacturing, material, component, and cost innovations.
“We are delighted to partner with Glid and support in bringing this vision to reality,” stated Trevor Weissbart, Vice President of Bart Manufacturing, “ We feel that this bleeding edge technology combined with our goal to achieving carbon neutrality is an important corporate goal and integral to our purpose to help build a better world,”
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/MTA4ZWVhYz...p-Inc-.png
Image: Primary Logo
Source: Genesis Electronics Group, Inc.(GEGI)
2023 GlobeNewswire, Inc.
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