VANCOUVER, British Columbia and LISBON, Portugal, Aug. 18, 2022 (GLOBE NEWSWIRE) -- TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovations,” or the “Company”), which is developing solutions for urban mobility challenges with the TUGA, a new type of electric vehicle (“EV”), is pleased to announce it has filed a patent application for an innovative affiliated emissions measuring technology branded as “PLUME.”
The technology inventors of PLUME are Francisca Cunha and Sofia Pereira who hold an affiliate relationship as contractors with TUGA Innovations. The proposed patent will be held by TUGA Innovations with preferential rights regarding future licensing opportunities. The Company views the technology as offering merit and synergistic opportunities regarding the development and pre-commercialization activities by TUGA.
The proposed PLUME technology visualizes emissions from Internal Combustion Engines (ICE) in real-time. The technology offers the ability to identify and quantify actual emissions comparative to the stated particulate ratings released into the environment from a particular engine or vehicle model, and to visualize and display the resulting data using augmented reality tools.
Co-inventor, Francisca Cunha states, “Sofia and I came up with the idea as a university project. We have mapped out the logic and identified the technologies. We are seeking grant funding to further develop the project.”
TUGA CEO John Hagie notes, “We encouraged Francisca and Sofia to collaborate and offered to assist with the patent application for their project. We feel that “visualizing the invisible” could be an extremely powerful tool and useful asset for our growing suite of digital mobility technologies planned for incorporation into our TUGA family of EV products.”
“Since our whole project is predicated on contributing to a sustainable environment, we are delighted to “walk the walk” as part of our commitment to creating a platform that is significantly differentiated from any comparable small EV sector novelty vehicles.” Hagie continues, “The TUGA has been designed from the ground-up to offer practical and environmentally sound solutions for urban users, and we are delighted to support PLUME as a brand-new technological innovation and a candidate for inclusion in our product vision which exemplifies our corporate ambitions.”
To find out more about our exciting approach please visit https://tugainnovations.com/ and watch our video.
On behalf of the Board of Directors,
Sincerely,
~John Hagie~
John Hagie
Chief Executive Officer & Director
TUGA Innovations, Inc.
About TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF)
TUGA Innovations is a development-stage electric vehicle company undertaking the conception, design, and production of specialized EVs to improve the urban mobility experience. The Company is looking to reduce urban mobility difficulties by developing a family of three-wheeled, fully electric fore-and-aft 2-seat vehicles. The vehicle is no wider than a motorcycle for agility and offers a patent pending expanding rear axle for high-speed stability along with a patent pending expandable chassis designed for passenger comfort. The vehicle will offer advanced connectivity technology to maximize safety, performance, environmental impact, comfort, maintenance, and navigation. The TUGA vehicle is being designed to deliver an estimated 160 km range, have an estimated top speed of 140km/hour with the comforts of a car, and with more protection than a motorcycle in an interchangeable multi-body, multi-function platform. Find out more at: https://tugainnovations.com/, watch our video, and follow us on Instagram, Twitter, and LinkedIn.
For further information, please contact:
TUGA Investor Relations
Tel: +1 415.799.7911
Email: info@tugainnovations.com
Forward-Looking Statement
This news release contains statements and information that, to the extent that they are not historical fact, may constitute “forward-looking information” within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as “aim”, “aims to”, “may”, “would”, “could”, “will”, “will be” “likely”, “expected”, “anticipated”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, “hope”, “the potential to” or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the Company’s go-to-market action plan timeline, the Company’s agenda aligning all aspects of engineering development, prototype testing, regulatory approvals, software, and hardware integration advanced digital technologies, marketing, and sales efforts; the Company’s target markets; the integration of a MaaSS, augmented reality and virtual reality features into the TUGA platform and the Company’s evaluation and testing of these features; augmented reality and virtual reality features, including tie-ins to Metaverse platforms, offering new customer-centric vertical integration possibilities combining innovative vehicle features, ride hailing software platforms, new user applications and associated services; the Company combining multiple offerings; the Company addressing challenges faced when driving in, between, and around urban centres and metropolitan areas; the Company obtaining consumer interest and acceptance and introducing various revenue models; the Company’s offering a ride sharing-to-ownership model in key locations using online smart contracts; the Company dedicating multiple first run vehicles aimed at the ride hailing, ride sharing and delivery service segments; the Company offering a uniquely-tailored solution in rapidly changing automotive sector; the Company’s commercialization of its automotive concepts, the width of the vehicle, the expanded rear axle feature of the vehicle, the advanced connectivity features of the vehicle and anticipated benefits, and the km range and top speed of the vehicle, the protection and platform offered by the vehicle.
Forward-looking information is based on the assumptions, estimates, analysis, and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; the Company’s ability to secure additional financing on reasonable terms; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company’s final prospectus dated November 30, 2021 under the heading “Risks Factors.” Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company’s management to predict all such factors and to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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