PORT HURON, Mich., May 12, 2005 (PRIMEZONE) -- Management at AVL Global (Pink Sheets:AVLL) would like to keep our shareholders advised of recent developments at the company. Unique testing of the energy saving unit has shown that when installed in a laptop computer as a thin profiled heat-sink rather than as cooling fan, the temperature remained the same. The implication here is that the unit may offer even greater energy savings than initially thought and increase the battery life even longer or in excess of the 30% estimation first thought. Testing is continuing in hopes of accurately determining the increased lifespan of the battery.
The ability to alter the configuration of the energy saving unit will also open new opportunities for application. We have mentioned uses in computer and telecommunication equipment along with household and commercial products but with the fast growing nanotechnology market requiring temperature controls, the company will be examining possible application here also. The malleable nature of the product would allow for custom design configuration. Nanotechnology-related companies are one of the fastest growing areas of interest for venture capital firms. J.P. Morgan Partners, a leading private equity organization, has approximately $13 billion in capital under management, and has a history of providing capital to just such companies. This is an area we will be closely examining upon approval of our patent application.
As mentioned last month our patent application is still with the Patent Office in Taiwan. We had initially been informed to expect a response by mid April but due to their heavy workload processing has been delayed. We are hopeful to hear something very soon.
Forward-Looking Statements
Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from the expected results