Engineering, Testing and Operation Update: July 25, 2017
REGI U.S., Inc. ("REGI" or "RGUS" or "the Company")
Spokane, WA, July 25, 2017 (Newswire.com) - Board of Directors, REGI U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc., are pleased to announce engineering improvements, prototype testing results, and OTCQB and Morningstar approvals.
All certifications and compliance for listing on the OTC.QB investment market board have been approved. In addition, REGI U.S., Inc. is now reviewed and listed by Morningstar within its level II market trading data on the otcmarkets.com, “RGUS”.
As a result of our research, testing and prototype evolution, the Board of Directors also announced the filing of two new patents and three provisional patents. Protecting our unique Intellectual Property (IP) is key to our success. In addition, other designs and RadMax technology enhancements are on the drawing board for future patent consideration.
Paul Porter, our VP of Technology and Chief Engineer manages the research and testing within our own lab. During the past few months, additional testing fixtures and manufacturing equipment have been added to the lab. These additions allow for reduced development costs and shorten the lead time during the fabrication process of prototypes. An additional benefit is the added protection of our IP with in-house manufacturing of prototype designs. These additional test fixtures and fabrication equipment have allowed extensive testing to be performed on numerous cam and vane material combinations to ascertain expected performance limitations. Valuable frictions and rpm data were obtained and further testing will be ongoing. Pressure testing of various chamber configurations and leakage rates were obtained to aid in future designs. This additional test data has increased our confidence in the success of the current expander prototype.
Likewise, this valuable information has provided a springboard toward the development of new devices which will require additional engineering and lab personnel. To this end, recruitment has begun with expected hiring of several people in the next few months.
With continued support from our forward-thinking shareholders, to engineering and design of multiple prototypes and improvements to our market presence, Paul Chute, CEO, believes REGI U.S., Inc. and RadMax Technologies is fulfilling its mission of bringing this revolutionary technology to market.
We continue to update our new website radmaxtech.com with timely information, and encourage all investors to follow our progress.
ON BEHALF OF THE BOARD OF DIRECTORS
Regi U.S., Inc.
President and CEO
7520 N. Market St. STE # 10
Spokane, WA. 99217-7800
ABOUT REGI U.S., INC.
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is developing for commercialization multiple improved axial vane type rotary devices using our Patented RadMax™ Rotary Technology. This Technology allows for revolutionary designs of lightweight and high efficiency engines, compressors pumps and other devices. One current prototype, The RadMax™ engine, has only two unique moving parts, the vanes (up to 12) and the rotor, compared to the 40 moving parts in a simple four-cylinder piston engine. This innovative design makes it possible to produce up to 24 continuous power impulses per one rotation that is vibration-free and extremely quiet. The RadMax™ engine also has several capabilities allowing it to operate on fuels including gasoline, natural gas, hydrogen, propane and diesel. For more information, please visit radmaxtech.com
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, including management's expectation on closing the second tranche of the private placement, 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-KSB 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 a number 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.
Source: Regi U.S., Inc., RadMax Technologies