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SPOKANE, Wash., Oct. 16, 2019 (GLOBE NEWSWIRE) -- REGI U.S., Inc. (“REGI” or “RGUS” or "the Company") (OTCQB:RGUS), The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc. (RadMax) are pleased to announce that a RadMax Expander / Generator (RXG) has been purchased for use in innovative green energy field trials scheduled to begin in early 2020. A purchase contract has been signed with an international Oil & Gas company (Customer) specifying delivery of the RXG by year end 2019.
“The purchase contract describes and confirms the Customer’s decision to collaborate with RadMax on the development of a custom designed RXG that uses pressurized natural gas to generate green energy to reduce overall energy consumption and costs. The RDX has the added advantage of reducing greenhouse (GHG) emissions and the company’s carbon footprint. While the details of the field trail are still being negotiated it is anticipated that the Customer will provide the test site, application specifications and onsite support personnel, while RadMax converts the application specifications into a customized RDX unit.” explained Paul Porter, Chief Technology Officer of RadMax Technologies.
“While the identity of the Customer and the details pertaining to the specific location and application are confidential, we can state that the project leverages RadMax’s patented rotary technology to extract energy from sources not compatible with incumbent technologies. This ability to generate green energy that would otherwise be lost, while also positively impacting the environment makes the technology extremely appealing to our Customer. Both companies anticipate that a successful field trial will pave the way for a much larger trial, of similarly sized devices and open the door to the development of RadMax devices for a variety of other “high interest” applications.” explained Paul Chute, CEO of RadMax Technologies
This natural gas project represents a significant milestone for the company as we continue to transition from in-house product development and testing, to product sales and customer funded field testing. We anticipate that additional projects will advance over the upcoming year as numerous Oil & Gas companies have expressed interest in our technology for a wide variety of applications. These applications range from, power generation from pressurized gas wells, pipelines, and storage vessels to using our unique expander / generators to power an innovative, low cost, water purification system to treat production water. All applications mentioned are environmentally friendly in that they either reduce energy consumption and operating cost, reduce our customers GHG emissions and carbon footprint, and / or provide a low-cost solution for purifying contaminated production water.
ABOUT REGI U.S., INC
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is a research and development company in the mid stages of prototype testing towards commercializing a family of unique, axial vane devices built around a patented “common rotary core”. This common core can be easily configured into a broad range of innovative products that includes; gas expanders, compressors, pumps, and internal combustion engines / external combustion turbines. These devices can be utilized across numerous global markets and applications to recapture lost “Free” energy and help users improve efficiency, decrease size, weight and complexity in powering applications. In addition, reducing their energy consumption, costs and greenhouse gas emissions (GHG’s) by using less energy, more efficiently. For more information, please visit www.radmaxtech.com
Forward Looking Statements:
Statements in this press release regarding the business of 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 / Board Chairman
7520 N. Market St. STE # 10
Spokane, WA. 99217-7800