SOURCE: HydroPhi Technologies Group, Inc.

HydroPhi Technologies Group, Inc.

November 04, 2013 09:00 ET

HydroPhi Reports on Merger Transaction and Provides Corporate Overview

ATLANTA, GA--(Marketwired - November 04, 2013) - HydroPhi Technologies Group, Inc. (OTCQB: HPTG) ("HydroPhi"), a developer of water-based, clean energy technology that delivers improved fuel economy and reduced greenhouse gas emissions, is pleased to announce the completion of a series of transactions that has reorganized itself as a public company for the next stage of its development. HydroPhi closed a transaction on September 25, 2013, in which HydroPhi (formerly named, Big Clix, Corp.) acquired Hydro Phi Technologies, Inc. of Atlanta, Georgia by means of an exchange of shares. Following the merger transaction, Big Clix changed its name to HydroPhi Technologies Group, Inc., effective October 7, 2013, and received the new trading symbol of "HPTG." The management of HydroPhi was changed by the appointment of Mr. Roger M. Slotkin as the Chairman of HydroPhi and the Chief Executive Officer, and there was a change in the officer positions of the operating company with the appointment of Mr. Reid Meyer as its Chief Operating Officer, Mr. Jonathan Goldman as its Chief Technology Officer and Mr. Scott Smith as its Senior Vice President of Sales, Marketing and Distribution. 

The Company's proprietary HydroPlant™ breaks water molecules into its components -- hydrogen and oxygen -- which are injected into carbon based fuels (diesel, unleaded, CNG, LNG, etc.). HydroPlant reduces fuel consumption, operating costs, and emissions for both stationary and on-board engines and generators. By utilizing an on-board electrolysis system in trucks and other vehicles, HydroPlant eliminates the need for high pressure hydrogen storage. The unique technology also eliminates the need for any caustic or hazardous chemicals. The Company's target markets include: trucking, heavy equipment, marine, military, agriculture, mining and distributed generation, among others. Additional information about the Company and the technology is available at: www.hydrophi.com.

Roger M. Slotkin specializes in business formation, acquisition and turnaround management and brings an extensive background in the energy and clean technology markets. Prior to joining HydroPhi, Mr. Slotkin served as CEO of RS Management, LTD, where he acted as consultant to the Mexico City vehicle conversion and electrification program and Plug-In hybrid bus initiative. He also co-founded the CLEVER Institute (Clean Vehicle Research), a not-for-profit with a mission to put fully plug-in electric car conversions on the U.S. roads. From 2009 to 2011, he served as CEO of One World Energy, Inc. (USA), a diversified energy developer specializing in wind, solar and wind services. Prior to that, he served as CEO of Odyne Corporation, a developer and manufacturer of advanced plug-in hybrid powertrains for class 6, 7 and 8 buses. He has served as CEO and held senior executive positions at numerous other public and private companies.

Reid Meyer has extensive experience in international operations, global manufacturing and supply-chain management. Mr. Meyer sold a portfolio of patents and processes to JM Clipper (formerly Johns Manville) in 1996, where Mr. Meyer later served as a member of the senior management team. In 2005, he went to work with Graftech International, where he worked in Business Development for the fuel cell technology group. In November 2006 he became Vice President of Leader Global Technologies, a manufacturer for chemical, power generation, and automotive markets globally.

Jonathan Goldman is a technology specialist in the venture company arena. Before coming to the company, he was the Vice President of Engineering & Research Grants of Hydro Phi from January 2010 to April 2012. From October 2007 to October 2008 Mr. Goldman worked with Suniva, Inc. of Norcross, Georgia where he was the Director of Business Development, and from April 2002 to October 2007 he served as Associate Director of Venture Lab at the Georgia Institute of Technology in Atlanta, Georgia.

Scott Smith has significant sales and marketing experience. Before joining the company, he was the Chief Sales Officer and Vice President of Commercial Operations from January 2010 to October 2012. From 2004 to 2008, Mr. Smith was the Group President of the Nine West division of Jones Apparel. Mr. Smith has extensive sales, marketing and executive management experience in the consumer products and footwear industry, and has grown businesses and business units with Fortune 500 and entrepreneurial companies alike.

The Company filed a Current Report on Form 8-K with the SEC on September 25, 2013 providing information about the Company's post-merger business, plan of operations, financial condition and management team. That Current Report on Form 8-K can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov

Notice Regarding Forward-Looking Statements
This news release contains forward-looking statements, which reflect our views with respect to future events and financial performance. These forward-looking statements are subject to certain uncertainties and other factors that could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.

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