Temecula, CA , July 17, 2023 (GLOBE NEWSWIRE) -- Global Warming Solutions, Inc. (OTCQB: GWSO), a leading developer of technologies that help mitigate climate change, today announced that it has signed a Letter Of Intent to acquire AQST-USA, LLC., a privately held company that develops and commercializes innovative hydrogen and fuel cell technologies. GWSO hired AQST to develop and build a prototype of their patented EcoHydrogen technology system.
The acquisition of AQST is a significant milestone for GWSO and represents a major step forward in the company’s growth strategy. The addition of AQST’s expertise in developing patents and technologies, as well as its experienced management team, will position GWSO as a leading player in the green technology market.
AQST brings to GWSO a strong portfolio of patents and technologies in not only the hydrogen and fuel cell space but in the aerospace industry. Jointly the companies will continue to develop their EcoHydroGen © system as a unique, on-demand hydrogen and electricity generation system that can be used in a variety of applications, including transportation, power generation, and industrial use. We believe this will lead to increased efficiency, economies of scale, expanded resources, and synergistic collaborations.
"Raymond and Joel are proven leaders in innovating and implementing groundbreaking technologies." said Michael Pollastro, CEO of Global Warming Solutions. "Their knowledge and experience will be invaluable as we work to bring our companies' complementary capabilities to bear on one of the most pressing issues facing our world today."
“We enthusiastically look forward to partnering with Global Warming Solutions, Inc. as we have an incredible chance to move forward. This firm's accomplishments in the purchase of patents for environmental advancement render them an ideal collaborator and partner to battle the dilemma of global warming, fusing their patents with our science and engineering talents, experience, and skills. The encouraging consequences of this combination will result in substantial, sustainable development and tremendous fast growth in the green sector, acting as an alluring investment for those hoping to construct a better future through our path breaking EcoHydroGen© technology.” Stated Raymond Caldas, CEO of AQST. "Together we have an incredible opportunity to combat climate change by combining AQST's scientific expertise with GWSO's business acumen."
As part of the acquisition, Raymond Caldas will join GWSO as Chief Technology Officer and Joel Smith will join as Chief Operating Officer. Both executives will be responsible for leading the development and commercialization of GWSO’s green technology portfolio.
The acquisition is expected to close in the third quarter of 2023.
Michael Pollastro
Chief Executive Officer
Global Warming Solutions Inc.
mpollastro@gwsogroup.com
About Global Warming Solutions Inc.
Global Warming Solutions Inc. (GWSO) is a worldwide developer of technologies that help mitigate climate change and its effects on the planet. The company’s mission is to develop and bring innovative market technologies that address the urgent need to reduce greenhouse gas emissions and adapt to the impacts of climate change.
Forward-Looking Statements
This press release may include predictions, estimates, or other information that might be considered forward-looking within applicable securities laws. While these forward-looking statements represent the Company’s current judgments, they are subject to risks and uncertainties that could cause actual results to differ materially.
You are cautioned not to place undue reliance on these forward-looking statements, which reflect the opinions of the Company’s management only as of the date of this release. Please keep in mind that the Company is not obligating itself to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. When used herein, words such as potential, expect, look forward, believe, dedicated, building or variations of such words and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those contemplated in any forward-looking statements made by the Company herein are often discussed in filings the Company makes with the United States Securities and Exchange Commission (SEC) available at www.sec.gov and on the Company’s website at http://www.gwsogroup.com.
