SOURCE: HPEV, Inc.

September 04, 2013 06:51 ET

Energy Efficiency Innovator HPEV Announces Execution Details on Revenue Initiatives

WESLEY CHAPEL, FL--(Marketwired - Sep 4, 2013) - HPEV, Inc. (OTCQB: WARM), an innovator in energy efficiency and heat removal technologies, announced that the Company has made significant progress on business and Company growth. The Company is:

  • Successful in raising $1.7 million allocated to accelerate project execution
  • On track to deliver on motor and generator projects with multinational corporate partners and customers
  • Fully executing on the Company's Mobile Generation System (MG) go-to-market initiative
  • Commercializing the Company's patents by prepping for OEM orders for submersible and dry-pit submersible pumps

Specifically, the Company has raised $1.7 million in the past four months to provide the capital to execute on three business opportunities.

In the near term, the Company plans to leverage its proprietary and patented thermal dispersion technology onto three platforms: the motor/generator market, the mobile electricity generation market and the water and wastewater marketplace. This process has already begun on several fronts:

1. The Company's motor and generator target market is approximately $50 billion. The Company has two very active projects; each in cooperation with a different multinational OEM. HPEV's plan anticipates that these customers will be able to deliver fully tested and commercialized products to the marketplace starting in the fourth quarter of 2013. Additionally, the Company is in discussions on similar projects with other global motor and generator manufacturers.

2. As previously announced, the Company and its manufacturing partners, Inverom and GearTech Heavy Duty, are in the process of fully integrating HPEV technologies to commercialize the HPEV Mobile Generation System ("MG"). The MG is fully scalable and can be installed in Class 2 to Class 6 trucks. Over the past two years, the Company has been working closely on this project with Inverom and GearTech Heavy Duty to bring product to market as soon as is optimal within 2013. The funds are now in place to deliver and execute on the commercialization and roll out of this product line. 

3. The Company is also commercializing its original patents that were awarded for the global water and wastewater industry in the form of submersible and drypit submersible motors and pumps. This is a $30+ billion global market. The Company's pump manufacturing OEM customers will bring the product to market. Management anticipates that the OEM's will begin to take orders in the fourth quarter of 2013 for delivery throughout 2014 and beyond.

"All of the pieces look to be in place to drive our motor/generator, MG and submersible/dry-pit submersible pumps through to completion and sustainable profitability," said Tim Hassett, HPEV's CEO.

About HPEV, Inc.
HPEV, Inc. (www.HPEVinc.com) is an intellectual property and product development company that employs a license and royalty model. The company has expertise in thermal dispersion technologies and their application to various product platforms. The Company is currently commercializing its patented thermal technology and has additional patents-pending for various applications of its proprietary heat removal technologies. The markets that will be addressed by these technologies include myriad industries such as pumps, fans, compressors, batteries, motors, generators and bearings.

Safe Harbor Statement.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the company's plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the company's business prospects and cause results to differ from those described in the forward-looking statements can be found in company reports and documents filed with the Securities and Exchange Commission. The company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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