Spokane, Washington, Sept. 24, 2018 (GLOBE NEWSWIRE) -- REGI U.S., Inc. (“REGI” or “RGUS” or "the Company") RGUS (OTCMKTS) The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc.(RadMax), are pleased to announce the receipt of a donated, state-of-the-art air conditioning / chiller system from Carrier Corporation. The system will be used as the test platform for the development and testing of RadMax’s innovative two-phase expander generator (TPXG).
Paul Porter, RadMax Chief Technology Officer, states “This new equipment will greatly accelerate our product development timeline by giving us the ability to test and compare our devices against incumbent technologies in-house. We are very appreciative of Carrier’s assistance in defining and delivering the state of the art equipment, as well as their willingness to guide and review the results from our on-going development programs. This will allow us to better align our devices to best address real world opportunities in the areas of operational efficiency and energy conservation.”
The RadMax TPXG is being developed to replace non-energy capturing throttling valves currently used in conventional air conditioning and refrigeration systems. Our objective is to improve the systems coefficient of performance (COP) by 5 to 15 percent depending upon the refrigerant being used. The TPXG is a positive displacement device capable of capturing a portion of the compression energy normally lost by incumbent throttling valves and converting it into electricity, which in turn is used to decrease the systems electrical demand on the grid.
ABOUT REGI U.S., INC
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is a research and product development company that is designing, developing and proving a family of smaller, lighter and more energy-efficient rotary engines, compressors, pumps and gas expanders for civilian, commercial and government applications. Our focus is on developing advanced devices that reduce carbon footprint, reduce device size, weight and parts counts, and increase fuel and manufacturing efficiencies. Based on our innovative and patented RadMax axial van-type technology, our devices are designed for high output to weight ratio and are easily scalable from small to very large. For more information, please visit radmaxtech.com
ABOUT CARRIER
Founded by the inventor of modern air conditioning, Carrier is the world’s leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. Carrier is a part of UTC Climate, Controls & Security, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. For more information, visit www.carrier.com or follow @CarrierGreen on Twitter.
READER ADVISORY
Statements in this press release regarding the business of and REGI U.S, Inc. (together the “Companies’”) which are not historical facts are "forward-looking statements" that involve risks and uncertainties, certain of which are beyond the Companies' control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: the impact of competitive products and pricing, the Companies' dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Companies or develop or license other functionally equivalent technologies; financing requirements; changes in laws, rules and regulations applicable to the Companies and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Companies’ actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in Regi U.S., Inc.’s financial statements, management discussion and analysis and material change reports filed with the United States
Securities and Exchange Commission at www.sec.gov, and REGI’s Form 10-K annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Companies will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Companies or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Companies do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
ON BEHALF OF THE BOARD OF DIRECTORS
CONTACT: Regi U.S., Inc. Michael S. Urso, CEO CONTACTS: (509) 474-1040 info@radmaxtech.com 7520 N. Market St. STE # 10 Spokane, WA. 99217-7800