Saint Petersburg, FL, April 27, 2015 (GLOBE NEWSWIRE) -- Infrax Systems Inc. (IFXY), a global provider of Internet of Things and Smart Grid Technologies for the electric utility and agricultural industries, announces the following important updates on its business activities relating to its acquisition of HempTech and its Smart Grid related project;
Agreements
On April 24, 2015 we signed two key agreements. First agreement is with FutureLand Corp., to build indoor grow facilities and fully implement HempTech's technology for all the required infrastructure, including security, monitoring and management for any grow facilities. The agreement is exclusive for a period of five (5) years.
The second agreement is with Second Sun LLC, based in California. This sales and representation agreement provides exclusivity for representing HempTech's technology in California, Oregon and Washington State.
Vendor Representation
We signed a dealer agreement with Current Culture H20. We became an authorized retailer for all Current Culture products. Current Culture is one of the premier provider of commercial hydroponic solutions. CCH20 deep water undercurrent products are the hydroponic systems we have integrated in our indoor grow builds. We have also reached out to major cannabis industry leaders for partnership potential. We also have been contacted by major vendors and suppliers for joint opportunities.
Technology Solution Advancement on Infrax and HempTech
GrowCOMM Solutions Demo: We are currently building a demo unit in our office facility to demonstrate many facets of our products. We incorporated a 5x5 grow tent with Mithra intelligent LED light and HempTech's SmartNergy control cabinet. We installed a complete four module CCH20 hydroponic system. We've also installed sensors from our SmartSense product portfolio and all these are tied to our CaNNaLyTiX computer application software. This demo allows us to demonstrate many of the features found in the full product range of HempTech Corp to prospective customers.
Light Spectrum Animation: We completed the animation application to demonstrate and control the light spectrum for our Mithra Intelligence LEDs. This is also available in mobile format for smart phones.
HIB on board 900 MHz Radio: The firmware of HIB's onboard radio has been fully developed and integrated with the base HIB firmware. This is currently being lab tested. This allows the board to be used in a variety of Internet of Things applications both in the Smart Grid space as well as in the Grow Industry.
We are the final process of the ANSI testing for the SNIC and smart meters. The process will be short and is requires by our partner, Itron. After the certification, we will complete the internal testing process required by Itron in their labs for their certification purposes.
Current and future Projects
We have signed an agreement with FutureLand to provide grow technology to all their clients for a period of five years in exclusive or first right of refusal basis. According to our current signed agreement, HempTech will receive $2,280,000 per year in revenue for providing grow technology to one grow facility in Colorado. We plan to provide grow related technologies for multiple grow opportunities alongside FutureLand in Colorado and other states.
We have also been contacted on multiple project opportunities all along the mid-west and west-coast of United Starts including Nevada. We have initiated a substantial marketing campaign all throughout the country and our state-of-the-art technologies have produced great interest among nation's largest grow facilities.
We expect to provide grow technologies to up to five projects by the end of 2015 in conjunction with our partnership with FutureLand and Second Sun. Our financial proforma calls for 300% increase in opportunities year in, year out. We expect increased revenue on a year over year basis by 200% to 400%.
About Infrax Systems
Infrax Systems offers a series of interrelated operational management, communications, and grid security related products and services known as Secure Intelligent Energy Platform (SIEP). Our products enable a comprehensive and unified solution for communications and applications management of the Smart Grid. SIEP(TM) incorporates a wide array of communications, security, device and data management tools for Smart Grid applications such as advanced metering solutions and grid optimization. SIEP platform creates a unified solution to securely manage Advanced Metering Infrastructure (AMI) and distribution automation. Infrax's secure smart grid platform, incorporates a communications transport and management system (GridMesh) device and data security management, and ultimately secures intelligent endpoint devices (SIED). The secure management of the "last mile" backhaul will be necessary for utilities to implement Smart Grid applications including AMI, real-time pricing, Demand Side Management (DSM), Distribution Monitoring and Automation. When combined, these applications can offer economic, operational and environmental benefits for utilities, and ultimately the utility's customers.
To request further information about Infrax, please email us atinfo@infraxinc.com, log onto our website athttp://www.infraxinc.com or visit us at our Facebook pagefacebook.com/infraxsystems or on Twitter @infraxsystems.
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.