SOURCE: HPEV, Inc

May 30, 2013 06:51 ET

Energy Efficiency Innovator HPEV Signs Agreement With Global Leader in Industrial Manufacturing

Second Agreement With an NYSE-Traded Multi-National in Two Weeks

WESLEY CHAPEL, FL--(Marketwired - May 30, 2013) - HPEV, Inc. (OTCQB: WARM), a creator of innovative thermal technologies that increase the power density and efficiency of rotating products such as electric motors, has entered into an agreement with an undisclosed leader in industrial manufacturing.

The objective of the Memorandum of Understanding ("MOU") is to integrate HPEV's proprietary heat removal technology into the customer's family of power generation products.

Timothy Hassett, HPEV's CEO, noted, "This agreement marks another significant step forward in HPEV's commercialization of its thermal dispersion technologies. Last week, we entered the electric motors and pumps market. This week, it's another multi-billion dollar market: power generation. This means that HPEV's combined addressable market has now expanded to over $100 billion."

About HPEV, Inc.
HPEV, Inc. (OTCQB: WARM) is an intellectual property and product development company in the energy efficiency industry. Our expertise and patents concentrate on thermal dispersion technologies and their application to various product platforms including electric motors and generators, pumps and compressors, the alternative energy market, bearings, brakes and calipers, turbines and almost any rotating piece of equipment.

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.

Contact Information

  • For HPEV Inc. Inquiries Contact:
    ir@hpevinc.com
    or
    Capital Group Communications, Inc.
    Mark Gundy
    972-240-1873
    Mark Bernhard
    415-332-7200