Salt Lake City, UT, May 04, 2023 (GLOBE NEWSWIRE) -- Salt Lake City, UT – May 4, 2023 – Genesis Electronics Group, Inc. (GEGI), the maker of the autonomous road-to-rail patent-pending shipping technology, Glīd, announced that it has signed the last subscription agreement for $190,000 from Strategic Investor, 40 Brightwater, LLC, which closes out the current Reg A offering. Due to the size of the investment, these shares will be restricted as per Rule 144.
This new Investor believes in the vision and mission of the Company and has provided this cash infusion as a sign of their confidence and support for the Company and Its future.
Kevin Damoa, CEO of Genesis Electronics Group commented “This investment by Shannon Newby and 40 Brightwater LLC couldn’t come at a more important time for not only our Glīd technology, but also our nation’s decision to transition rapidly into a greener and more sustainable future. We are extremely grateful for his belief and support and we look forward to building a brighter tomorrow together for intermodal transportation.”
Shannon Newby, CEO of 40 Brightwater, LLC commented “We have been following Genesis Electronics Group and their Glīd technology for several months. We are impressed by their technology and team they have assembled in their effort to decarbonize freight transport in America. We look forward to seeing how we can provide greater strategic value to the Company in the future.”
As previously announced,Taylor Transport out of Vancouver, WA has signed a binding purchase order for the first units produced from GEGI.
Additionally, the Company recently announced the partnership with the Portland Vancouver Junction Railroad. This strategic partnership will be crucial in the testing and deployment of the Company’s Glīders.
About Genesis Electronics Group, Inc.
Genesis Electronics Group, 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 plans on owning and operating each Glīder in its fleet, and providing a “Glider-as-a-Service” business model.
Forward-Looking Statements
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Press Contact:
Genesis Electronics Group, Inc.
communications@genesis-electronics.com
