Spokane, WA, May 15, 2017 (Newswire.com) - On Behalf of the Board of Directors of REGI U.S., Inc. (OTC: RGUS) (the “Company”), and its wholly owned subsidiary, RadMax Technologies, President and CEO Paul W Chute issued the following update:
Fabrication has commenced on the RadMax® energy recovery expander prototype. This device can recover a significant portion of the energy lost by the throttling process and convert it to either heat or rotational work. This device is designed to be a direct and/or retrofit replacement for throttling valves used in natural gas compressor and distribution systems, and refrigeration and air conditioning systems. Use of this device can result in significant energy efficiency and economic savings. Meetings with various natural gas distribution and utility companies have commenced to explore co-development and business partnerships.
Engineering and mechanical design is complete for a prototype low-density refrigerate compressor, and is awaiting funding to start the build and testing. The prototype’s design capitalizes on the unique ability of RadMax® technology to compress larger volumes of gas at higher compression ratios in the same footprint as current refrigeration units. This will allow direct replacement of existing equipment with the newer, more environmentally friendly refrigerants.
Dividends distributed for Reg Technology shares holders will meet their six months' “Restricted Legend and hold period” per SEC 144 guidelines, on June 6th, 2017. The company Transfer Agent, Nevada Agency and Transfer Co., will electronically notify all Brokerage and Banking institutions on this date that all dividend shares are free trading without restrictions. (More specific details will be posted on the company website, radmaxtech.com, News/Investor Updates.)
The company continues to raise working capital for operational and engineering research via its Secured Senior Convertible Loan Program during the continuing search for potential major equity and/or joint development partners.
Paul Chute, President, is proud at the rate of progress and latest results as they open up multiple opportunities for Joint business relationships while continuing rapid progress toward commercialization of its patented RadMax Technology.
7520 N. Market St., Spokane, WA. 99217
ABOUT REGI U.S., INC.
REGI U.S., Inc. is developing for commercialization an improved axial vane type rotary engine known as the RadMax™ rotary technology used in the revolutionary design of lightweight and high-efficiency engines, compressors and pumps. 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, propane and diesel. For more information, please visit http://www.radmaxtech.com
Statements in this press release regarding the business of REGI U.S, Inc. which are not historical facts are "forward-looking statements" that involve risks and uncertainties. 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, , 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. financial statements, management discussion and analysis and material change reports, 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 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 Company 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