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SPOKANE, Wash., June 20, 2019 (GLOBE NEWSWIRE) -- REGI U.S., Inc. (“REGI” or “RGUS” or “the Company”) RGUS (OTC:QB) The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc. (RadMax) are pleased to announce that both project proposals submitted as part of the Canadian Natural Gas Innovation Fund (NGIF) Round 4 funding competition have been selected as semi-finalists. The NGIF competition is focused on identifying and testing innovative clean technologies related to the production and distribution of natural gas. The NGIF announcement was made as part of the Global Petroleum Show held in Calgary, Alberta on June 12, 2019.
The RadMax projects titled “Demonstration of electrical power generation with positive displacement rotary expander at natural gas production letdown point” and “Demonstration of innovative positive displacement device for recompression of natural gas to avoid venting” are two of the twelve project proposals selected by NGIF to submit investment proposals for stage 2 evaluation and due diligence in the Production related category. Selection of project finalists and the associated funding decision will be made this Fall. Click here to read the full NGIF announcement.
ABOUT THE NATURAL GAS INNOVATION FUND
NGIF is an industry-led, industry-funded, granting organization created by the Canadian Gas Association that seeks to accelerate cleantech innovation in the production, pipeline transmission, and end-use of natural gas. In so doing, we aim to improve the environmental and economic performance of all in the sector. Our belief is that affordable, reliable, environmentally sound natural gas is a foundational fuel for Canada’s long-term well-being.
ABOUT REGI U.S., INC
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is focused on developing and proving a family of smaller, lighter and more energy-efficient rotary power devices, compressors, pumps and gas expanders for civilian, commercial and government applications. Based on our innovative and patented RadMax axial van-type technology, our advanced devices are designed to reduce carbon footprint, and increase fuel and manufacturing efficiencies.
Statements in this press release regarding the business of RadMax Technologies, Inc. and REGI U.S, Inc. (together the “Companies’”) which are not historical facts are "forward-looking statements" that involve risks and uncertainties, certain of which are beyond the Companies' control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.
Regi U.S., Inc.
Paul Chute, CEO
(509) 474-1040 x.3