SOURCE: WanderPort Corporation

September 16, 2010 08:00 ET

Wanderport Short Lists Engineering Firms for Its Microwave Energy Tank-less Water Heater Prototype Production

NEW YORK, NY--(Marketwire - September 16, 2010) -  Wanderport Corp. (PINKSHEETS: WDRP) today announced that it has short listed two engineering firms to complete a finished prototype for its microwave energy tank-less water heater.

Following Wanderport's recent news release (August 19, 2010) citing prototype production up for tender to various engineering groups, the company has now successfully short listed two prospective companies located in Alberta and Ontario Canada, to finalize the characterization of the microwave energy tank-less water heater.

The main reason for choosing a Canadian engineering firm is to qualify for a specific Canadian government funding program only available in Canada. This, however, in no way binds Wanderport to Canada for its eventual production and leaves the door wide open for subsequent production in either the USA, Canada or any other country.

A partial design summary provided by the engineering firms includes:

  • Technology transfer baseline information
  • Research and planning pertaining to project planning and administration
  • Physical assembly completion and assembly of electrical/electronics
  • Familiarization with the supplied controller
  • Design and fabrication of heat exchanger in accordance to new patent application
  • Hydraulic assembly for magnetrons
  • Metallic enclosure finishing

Wanderport is also pleased to confirm that the engineering firms have relinquished any claims in whole or in part to proprietary technology rights or overrides derived from work offerings, upgrade or technology transfer toward the finished microwave energy tank-less water heater. Thus, all proprietary technology rights are retained by Wanderport through its licensing agreement.

"A contractual obligation to transact with a selected third party engineering firm is further evidence that we are unwavering in our belief and commitment to the marketability of our microwave energy tank-less water heater," said Richard Martel, President and CEO of Wanderport Corporation.

"Based on quotations received, we are confident that an agreement with one chosen engineering group will produce a single cavity microwave water heater unit capable of being reproduced according to certifiable industry standards and market demands in a linear manner," stated Mr. Robert Simoneau, Wanderport's Technical Advisor and product Licensor. "Nobody, including the engineering firms, wants to walk into failure and I am delighted to confirm a sense of genuine optimism in relation to our product's imminent completion. We are truly eager to complete this phase of our plan and move to production," continued Mr. Simoneau.

Both engineering firms are scheduled to make their final presentations without delay and Wanderport anticipates making an announcement of a definitive agreement containing timelines and other specific information immediately following that process.

About Wanderport Corporation: Wanderport Corporation is a holding and business development company making investments, acquiring licenses and deployment of environmentally friendly "Green" technologies such as, primary alternative, renewable energy and energy saving products namely Pulsar's microwave energy tank-less water heater, which reduces water and energy consumption as well as global dependence on oil. Pulsar Advanced Technologies Inc. was the proud recipient of the 2005 TIPTA award (TCA; Toronto Construction Association, Innovative Product and Technology Award), recognizing excellence in product innovation and technology development for the microwave energy tank-less water heater.

Important Information About Forward-Looking Statements: Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services to be offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating efforts.

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