Tokyo, Japan–(ACCESSWIRE – August 14, 2015) – Aqua Power Systems Inc. (OTCQB: APSI) (the “Company“) is pleased to announce that it has completed the acquisition of Aqua Power System Japan Kabushiki Kaisha (“Aqua Power Japan”), a company specializing in the development, manufacturing, and commercialization of patented water activated magnesium air fuel cell technologies for generating safe, green, reliable and inexpensive off-grid electricity.
Pursuant to the Share Exchange Agreement entered into by the parties, the Company acquired 100% of the shares of Aqua Power Japan. As a result of the acquisition, Aqua Power System Japan is now a wholly-owned subsidiary of the Company. The Share Exchange Agreement supersedes the previous licensing and option agreement between the parties.
Tadashi Ishikawa, President of Aqua Power Systems Inc., commented, “Our corporate growth strategy has always included the potential acquisition of Aqua Power Japan, the developer and patent holder of the Realistic Magnesium Air Fuel System (RMAF) technology underlying all of our unique products. With this 100% acquisition now completed, we have secured complete control and ownership of all the RMAF products, patents, and other intellectual property within Aqua Power Japan.”
Ishikawa concluded, “In the near-term, the acquisition should allow us to accelerate our growth strategy to raise additional working capital, launch exciting new products, increase production capacity, and build a dynamic distribution network. I am very confident this strategy will enable us to build upon the great success that RMAF products have already experienced in Japan, but now on a global scale and with a greatly expanded product lineup.”
Realistic Magnesium Air Fuel System (RMAF) technology products have significant benefits over traditional fuel cells and batteries, including:
– Indefinite shelf life – ideal for long-term storage for emergency use;
– Extremely lightweight and easily transported;
– Totally green – recyclable, no toxic emissions;
– Low cost – much lower cost compared to hydrogen and zinc-air fuel cells;
– Safe – no risk of overheating or exploding, as shown in Li-ion fuel cells;
– Indefinitely refuelable; and
– Easily expandable for greater power generation.
For a complete description of the specific terms and conditions of the Share Exchange Agreement, a Current Report on Form 8-K has been filed with the Securities and Exchange Commission.
ABOUT AQUA POWER SYSTEMS, INC.
Aqua Power Systems, Inc. (APSI), through its wholly-owned subsidiary Aqua Power System Japan Kabushiki Kaisha (Aqua Power Japan), is a developer, distributor, and marketer of magnesium air fuel cell products. Founded in 2004 by Tadashi Ishikawa, President of APSI, Aqua Power Japan has successfully commercialized magnesium air fuel cells for generating safe, green, reliable and inexpensive off-grid electricity.
Aqua Power Japan’s patented (and patent-pending) Realistic Magnesium Air Fuel System (“RMAF”) technology causes electricity to be generated from the chemical reaction of the combination of magnesium, oxygen (air), and a saltwater electrolyte. RMAF powered applications can be refueled using its proprietary lightweight magnesium rods, which fuel the chemical reaction. RMAF fuel cells have a long shelf, are lightweight, transportable, environmentally friendly, safe and scalable for greater power generation. Aqua Power Japan has aggressively patented (16 patents and patents-pending to date) and protects its intellectual property in Japan and internationally.
Aqua Power Japan’s fuel cell technology can be applied to many applications requiring remote power, including emergency preparedness and disaster relief, outdoor recreation, industry (mining, oil and gas, forestry), military, marine (saltwater environments), and automotive opportunities (main drive, electrical subsystems, and backup systems).
Aqua Power Japan has been generating revenue since its initial products were launched in 2009 in Japan. These products included a water-activated AA battery (more than 8 million sold to date), mini-LED flashlights, and portable radios. Aqua Power Japan products gained national attention in Japan following the earthquake and tsunami that devastated many parts of the country in 2011.
On behalf of the Board Tadashi Ishikawa, President
For further information please contact: email@example.com.
Notice Regarding Forward-Looking Statements
This press release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with intellectual property protection, marketing and sale, manufacturing and distribution and difficulties associated with obtaining financing on acceptable terms. We are not in control of energy trends and prices and these could vary to make our business development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.