Salt Lake City, UT, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Genesis Electronics Group, Inc. (GEGI), today announced that It has formally added Jack Hedge as a Strategic Advisor to the Board of the Company.
Genesis Electronics Group ($GEGI) recently announced the acquisition of Glīd, LLC, a first-of-its kind road to rail autonomous trucking company revolutionizing the way trucking companies can leverage the efficiencies of the rails. To further the business objectives of Glīd, Genesis Electronics Group is excited to bring Jack Hedge to the Company as a Strategic Advisor.
Jack has had a distinguished career in the transportation industry where he was recently President of the Utah Inland Port Authority. He became President in June of 2022 after serving as Executive Director since June 2019. His main priority was to develop and build one of the nation’s leading sustainable intermodal logistics hubs that will help prepare for, support, and manage Utah’s continuing economic growth.
Mr. Hedge was previously the director of cargo and industrial real estate for the Port of Los Angeles. In this role, Mr. Hedge led the development, leasing, and asset management functions of the largest container port complex in North America, managing a $4 billion portfolio and more than $270 billion in cargo annually.
Mr. Hedge’s previous roles include real estate and asset management director for the Port of Tacoma, managing director for North American Energy Services Capital, and Development Manager at Enserch International LTD.
Mr. Hedge commented, “I’m excited to join to Genesis Electronics Group as an Advisor to the Board. Glīd is ground breaking technology that has the potential to radically alter how cargo is handled and goods are moved through the supply chain. Innovations such as Glīd will lead us to a smart, sustainable and equitable supply chain.”
“We are beyond excited to bring Jack on board as an advisor to the Company” said GEGI CEO, Braden Jones. “A lot has happened in the past few weeks that we believe will bring significant shareholder value to the Company. The acquisition announcement with Glīd has been months in the making, and we have been assembling an A-class team that can take this business to the next level. Bringing Mr. Jack Hedge on as an advisor adds a very important component to our already stellar team.”
Mr. Jones continued “Mr. Hedge’s contacts and connections within the transportation industry is second to none. He knows everyone and has an ability to connect people and create value in many ways. He has already been doing that for GEGI and we expect for that to continue to bring a lot of value for the Company.”
Genesis Electronics Group has been putting together a world class team to execute on Its Glīd technology and business plan. The Company previously announced adding Kevin Damoa and Kasey Evans as Strategic Advisors to the Board.
Mr. Evans is founding partner of Lane VC. Lane VC is a prolific investor in emerging and established technologies in the electric and autonomous vehicle industries. Some of Lane VC’s portfolio of companies include: XOS Trucks, Einride, Serial 1, and Vanderhall. Mr. Evans’ experience originally comes from the trucking and transportation industry where he held leadership roles at PACCAR, Pilot Thomas Logistics, and Autocar Trucks. He has worked with various venture capital firms and has become a seasoned investor in some of the hottest mobility innovation companies.
Mr. Evans is an expert in rapid and sustainable growth. He is a dynamic and innovative leader experienced in sales, business development, negotiations, mergers & acquisitions, finance, asset management, expense reduction, and general management.
Mr. Damoa is an experienced Operations Professional and military veteran with a demonstrated history of working in the Aviation & Aerospace, Electrification, E-Mobility, and Defense industries. Mr. Damoa has held critical leadership positions at early start ups and well-established corporations. His history includes Flight Module Logistics Management at SpaceX, Integration Project Manager at Northrop Grumann, Vice President at Romeo Power Technology, Vice President of XOS Trucks, Logistics manager at Canoo, and VP of Operations as Serial 1 Cycle Company.
Mr. Damoa is skilled in Operations Management, Program/Project Management, Compliance Engineering , Logistics Operations, Team Building, Organizational Leadership, and Mechanical/Structural Design.
As part of the acquisition and merger of Glīd, LLC, the Company wants to highlight the convertible note and convertible preferred stock paid in exchange for the technology, has conversion lock up periods that will prevent any common shares from being issued for at least 24 months. This ensures that all parties involved in the transaction are yoked to the long-term success of the Company and there will be no immediate dilution impacts as part of the transaction.
As previously announced, Genesis Electronics acquired Glīd, LLC to revolutionize the trucking and transportation industry. More information about Glīd’s technology can be found at https://glidrail.com/ The Company’s Twitter handle is: @GenesisElectro4.
About Genesis Electronics Group, Inc.
Genesis Electronics Group with It’s flagship patent-pending technology Glīd, enables two specially-made “Glīder” vehicles to independently and autonomously move under an unaltered fully-loaded semi trailer, connect to both the king pin and rear axel and then lift the trailer. Once the trailer is lifted off the ground, the Glīders, using a uniquely designed wheel system will be able to enter railroad tracks (via forked rail spurs, asphalt or concrete roads) deploy rail wheels and then transport the semi-trailer and travel at speeds of up to 70-80 mph.
Unlike traditional methods of transporting semi-trailers by stacking them on a rail cars, and then those rail cars sitting in ports for days or weeks sometimes, Glīders are able to easily move from rail to private roads making connections much easier, cheaper and faster. Each Glīder can exit the rails onto a private lot, where a semi tractor could then pick it up and take it on the final leg of its destination.
Genesis Electronics Group is assembling a team of autonomous experts to identify companies and/or technologies that can be acquired and applied to specific industries that are ripe for disruption.
Forward-Looking Statements
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Genesis Electronics Group, Inc.
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