Lindon, Utah, April 06, 2023 (GLOBE NEWSWIRE) -- Renewable Innovations, Inc. (RI) (OTC: REII), a leader in the zero-carbon, green solutions alternative fuel industry, announced today the validation of their unique technology and its potential widespread use in many separate industries.
The company has developed proprietary software that manages and runs complex renewable energy systems. Additionally, RI has developed electronic and hardware components that interface with multiple subsystems. This revolutionary new technology has been developed, built and validated to the point where fully operating systems are being delivered and new orders are being received.
RI currently has approximately a dozen revenue generating projects with several Fortune 500 companies, large government contractors and government agencies. Additionally, the company is in the late stages of finalizing and developing various systems for a multitude of companies. Initial deployment for many of these systems is expected this year with network-wide deliveries next year.
Worldwide investment in the green energy transition topped $1.1 trillion in 2022, setting a new record according to Bloomberg NEF. This represents a more rapid acceleration than originally forecast as the energy crises prompted faster deployment of low-carbon technologies. The world is set to add as much renewable power in the next five years as it did in the last twenty. This makes energy storage, alternative energy recharging capabilities, and non-reliance on the electrical grid infrastructure vital for the future.
“We believe that, based on the partners we are working with and the demand we are seeing, that we provide H2 solutions that are proven and are more efficient than virtually anything currently on the market or in production. While we are confident that many of our clients and potential clients understand the quality and uniqueness of our system and our leadership position in the industry, we are striving to make sure our investors fully understand the strength of our product offerings,” stated Robert Mount, Founder, President and CEO of Renewable Innovations
As more deliveries of systems occur, the company will continue to update the market on its progress.
About Renewable Innovations, Inc.
Renewable Innovations, Inc. (OTC: REII) is a global hydrogen and fuel cell integration solutions provider. Renewable Innovations is accelerating the growth and opportunities within the renewable economy. Their team of industry leaders brings extensive experience and invaluable connections across the renewable, hydrogen, and alternative energy sectors. Along with their partners, investors, and clients, they are making major technological advancements with products and solutions to lead the world into a new and exciting carbon-free future.
Forward Looking Statement
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Forward-looking statements may be identified by the use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “targets,” “estimates” or other words of similar meaning. Forward-looking statements are based on certain assumptions and expectations of future events which may not be accurate or realized, and involve risks and uncertainties, many of which are beyond Renewable Innovations control, including but not limited to regulatory approvals and market conditions. A discussion of factors that may affect future results is included in Renewable Innovation’s filings with the Securities and Exchange Commission. Renewable Innovations disclaims and does not undertake any obligation to update or revise any forward-looking statement, except as required by applicable law.
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