TAMPA, FL--(Marketwired - Feb 20, 2014) - HPEV, Inc. (OTCQB: WARM), an innovator in energy efficiency and heat dispersion technologies, announced some details of its patent portfolio that represents what industry insiders have already called a "game changing" technology. HPEV's patent portfolio leverages its unique ability to increase power density and lower manufacturing costs in the motor and generator industry, but also can similarly affect a large number of additional markets.
HPEV' patent portfolio consists of five issued U.S. utility patents and more than 20 global PCT patents that are either pending or in the application process. HPEV typically files utility patents with specific applications in the industrial space such as motors & generators, pumps, breaks/rotors/calipers and bearings, to name a few.
"From our perspective, HPEV's technology and practical go-to-market solutions make it possible for the most innovative manufacturing companies in the world to leap ahead in energy efficiency and profit margins," commented Timothy Hassett, HPEV's Chief Executive Officer and co-founder. "With the coming wave of energy efficiency mandates and a big push toward lower industrial manufacturing costs, HPEV's timing is perfect," continued Hassett.
"It is well known that one of the most costly and limiting problems for power driven equipment is heat. The cooler a motor or generator runs, the harder it can work. The result is greater power output," said Theodore Banzhaf, HPEV's President. "HPEV's technology applies to many industrial applications and we are currently proliferating the technology into these markets under patent protection," continued Banzhaf. HPEV patents are at the core of many of the most interesting and powerful energy efficiency solutions that rotating equipment manufacturers have seen in decades.
HPEV's utility patents are founded on HPEV's unique ability to use established heat pipe technology in new and innovative heat management solutions. The technology can better cool equipment and machinery with almost zero required maintenance. It replaces high cost and high maintenance legacy cooling systems such as traditional air to air (TEAAC) and water to air (TEWAC) heat exchangers with HPEV's Totally Enclosed Heat Pipe Cooled (TEHPC™) solution that allows for standardization to one cost effective system within current manufacture production lines. Independent testing has repeatedly demonstrated that HPEV's technology improves power density in motors and generators by 20 - 40%. That's 20 - 40% more output when compared to a machine of the same size and design.
"As our customers begin to commercialize, apply and sell our technology into various marketplaces, we are very excited to have secured our solutions with key patents and to have our future pipeline of additional markets being secured by pending and applied for patents. We expect that our patent portfolio will secure our intellectual property business model in many verticals and form many years to come," commented Hassett. "Utility patents describe and protect our technology for specific applications of our technology. We have already announced sales in the pump market and we are in deep OEM license and royalty conversations with motor/generator manufacturers on how we can solve their critical and immediate problems."
About HPEV, Inc.
HPEV, Inc. 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 OEM 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.