SOURCE: IDS Industries

August 21, 2013 09:00 ET

IDS Industries' COO Completes 60-Day Business Review

Company to Divide Business Enterprise Into 3 Wholly-Owned Subsidiaries

LAKE ELSINORE, CA--(Marketwired - Aug 21, 2013) - IDS Industries, Inc. (OTCQB: IDST) announced today the completion by Scott Plantinga, its COO, of his 60-day review of the Company's operations and marketing strategies. As previously announced, Mr. Plantinga joined the Company as an executive on June 10, 2013 and began his review which has allowed the Company to leverage his core talents to increase its efficiency and potential. The results of the review have been approved by the Company's Board of Directors and includes the establishment of 3 wholly-owned subsidiaries; Energy Storage, Construction and Materials, and Portable Renewable Energy Power Systems and Products. This new "Go to Market" strategy readily enables the 3 divisions to focus on their core competencies, strategic dealer networks and vendor acquisition and private label programs.

The Company is very encouraged from the progress it has made from the development of its proprietary Battery Management and Charge Controller System (BMCCS). The testing of its stand-alone BMS PC board design has been completed, which is a key component and unique feature of its BMCCS. Subsequently, the Revision A boards have been released for production with their receipt anticipated in late August 2013.

The BMS will be combined with its Charge Controller, which is already completed, to form a universally adaptable data acquisition and battery management system for advanced LiFePO4 cells. The software for the BMCCS board is in development and testing and is targeted to be completed by the end of September 2013.

The Company is seeking to provide unprecedented functionality and extended battery life to various sectors through its innovative sophisticated battery management technology and control electronics.

The rapid growth of the residential and commercial energy storage markets are driven by the need to store energy harvested from renewable sources, such as solar and wind, the need to reduce energy costs through "peak shaving," and the increasing unreliability of the nation's deteriorating power grid. Based on these facts coupled with the growth of the sales of its portable solar generators in the third quarter of 2013, the Company is excited about continuing to provide portable renewable energy powered electric generators and other systems to specific growth markets.

The Company's Construction and Materials division will initially focus on the Southern California market given the multiple opportunities and growth potential.

The Company will announce more details to its shareholders and the public as they become available and executes its revised business plan and strategy. The Company will provide an investor update from previous announcements on September 3, 2013.

About IDS Industries, Inc.
IDS Industries is a GIIRS-rated developer, designer, manufacturer, and seller of portable renewable electric generators for use by consumers, industry, government, and emergency management relief worldwide as well as a developer of a line of specialized battery management and control electronics for lithium iron phosphate and other advanced chemistry batteries. Advantages of renewable over fossil-fuel portable power include lower operational cost, superior reliability, greater sustainability, and expanded utility due to zero exhaust and quiet operation.

Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Contact Information

  • Investor Inquiries:
    Patrick Gaynes
    Growth Capital Partners
    Email Contact
    (310) 989-5666

    Product or Industry Inquiries:
    George Rodriguez
    VP, Business Development
    Email Contact
    (951) 674-1554