LAKE ELSINORE, CA--(Marketwired - Mar 18, 2014) - IDS Industries, Inc. (OTCQB: IDST) announced today that it recently launched a new wholly-owned subsidiary, Charge! Energy Storage, Inc. (Charge!)
The Company explained that Charge! has been a division these past many months with shared management and resources and an agenda that was growing. The manufacturer and distributor of innovative energy generation and storage products stated it has a distinct plan to its exploit its research and industry leading Battery Management System designs to maximize revenue generation and market presence.
With the separation of Charge!, the new wholly-owned subsidiary is ready to leverage the great interest and relationships it has generated over this developmental period and focus on refining its product line to the niche markets coming to the forefront, demanding reliable off-grid energy generation and storage.
Since its first successful Beta site this past fall testing the Company's patent-pending technology, a proprietary Battery Management System, the Company has developed a full product suite aligned with market demands, all of which are based on the safe and environmentally friendly, lithium-ion energy storage platform.
Scott Plantinga, CEO of IDST, said, "It was important in the growth of Charge! to separate it with its own management team and resources. We are in the process of changing how the Company operates and how it deploys its assets. With the separation of the two business models within the Company, we envision each subsidiary to grow its core strengths while remaining strategically cooperative in the exploitation of market opportunities."
Mr. Plantinga added, "Given the growing support for medical marijuana and the fact that 15 more states this summer and fall are considering various types of legislation to legitimize the use of marijuana and hemp, the Company believes now is the time for both of our subsidiaries to be ready to participate in this hyper-growth period and sector. Similar to our recent LOI to purchase MiCanna Labs for product testing in this space, we will continue to bolster our position in this core market for IDS Industries. Charge! is extremely excited to have a strategic working relationship with the growing domestic cannabis and hemp industries."
Charge! recently announced its intent to begin testing its energy storage product line with an indoor cannabis grower, and as of this week, has added its first outdoor grower as well. The growing product portfolio for Charge! Energy Storage includes a Portable, Mobile and Stationary "behind the meter" product suite which allows Charge! to capitalize on the various opportunities that have been presented.
The Company believes this market sector represents a significant opportunity for growth and revenue expansion and stated it will continue to seek other market opportunities that will drive long term revenue and build value for its shareholders.
About IDS Industries, Inc.
IDS Industries, Inc., a diversified holding company, is focused on creating superior long-term returns for shareholders through a unique structure of diversified public and non-public holdings. Today, IDS is made up of two principal subsidiaries:
Charge! Energy Storage is a designer and developer of GIIRS-rated energy storage devices for residential, commercial, and light industrial markets and products that deliver clean stationary and portable electrical energy. The Company's residential & commercial products are large scale products that have characteristics applicable to their usage. Charge! has made a broad reaching commitment to create reliable and affordable hi-tech energy storage systems for all commercial and residential applications. The Company's proprietary integrated Battery Management and Charge Controller System (BMCCS) optimizes advanced lithium chemistry functions improving battery performance and extending battery life.
Propel Management Group (PMG) provides a full range of program management, acquisition, and lifecycle support services to its customers. PMG is at the forefront of integrating acquisition, logistics, engineering, and technology disciplines into a comprehensive lifecycle management approach. PMG continually strives to improve the process of developing, procuring, and sustaining its customers' systems to achieve their overarching goals of transformation, consolidation, and efficiency. Its Direct-to-Consumer business delivers comprehensive call center and online marketing solutions to brands seeking maximum reach and return on investment (ROI).
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.