SOURCE: AUGRID Global Holding Corporation

Augrid Global Holding Corporation

August 11, 2011 16:00 ET

Augrid's Carbon Composite Technologies Announces Technology License Agreement

HOUSTON, TX--(Marketwire - Aug 11, 2011) - Augrid Global Holdings Corporation (PINKSHEETS: AGHD) proudly announces that its subsidiary, Carbon Composite Technologies (CCT) has signed a world-wide Licensing Agreement with Convection Strategies, LLC (CSLLC). The two companies have worked for nearly two years to prepare marketing literature and perform physical testing of several composite fiber architectures for presentation to the several major wind turbine blade manufacturers. Tests by a certified third-party multi-national testing company provide conclusive results that our patented processes provide a more efficient and less-expensive alternative to current production methods. The principals of CSLLC are former Price Water House Coopers (PcW) consultants with major contacts in the Wind Energy Industry. Several domestic referrals have been the result of this relationship and CCT has already been introduced to several major wind turbine companies in China.

CCT's patented technology allows the manufacturing of 100 meter and larger blades which are becoming required for use in wind farms being deployed in the oceans. The larger blades provide more electricity with a fewer number of towers and CCT's patented process for construction and curing allow for the blade to be manufactured as one piece and cured without the use of an autoclave, dramatically decreasing the time and material costs, resulting in a significantly less expensive final product.

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AUGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates, "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AUGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AUGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AUGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AUGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • Contact:
    Investor relations:
    (713)-481-7141
    5847 San Felipe Dr
    Houston, TX