COLUMBUS, Ohio, Dec. 10, 2013 (GLOBE NEWSWIRE) -- Tauriga Sciences, Inc. (OTCQB:TAUG) ("Tauriga" or the "Company"), a diversified company focused on generating profitable revenues through license agreements and the development of a proprietary technology platform in the nanorobotics space, has today announced its acquisition target, Pilus Energy LLC ("Pilus Energy"), has commenced a crowd funding campaign ("campaign") on the website Indiegogo.com. Through the campaign slogan, "Turning Dirt into Gold," Pilus Energy has presented its unique technology platform to the public and enabled the public to fund specific municipal projects. Pilus Energy has also created a 4 minute video and set up the following dedicated website to accept public contributions in exchange for various perks and rewards: (http://www.indiegogo.com/projects/pilus-energy-presents-turning-dirt-into-gold).
The crowd funding campaign is completely separate from the financing activities previously disclosed by Tauriga. However the monies raised through this public crowd funding campaign can be used to build various Electrogenic Bioreactor ("EBR") prototypes for different projects.
The initial goal of this campaign is to raise from $50,000 USD from public contributions, by December 26, 2013, with the stretch goal of raising $150,000 USD.
Despite all of the media attention on preserving the global environment, there is still a huge problem that gets less attention than it deserves: the rapid build-up of waste-water, sewage, and sludge. The United Nations expects global population to rise to nearly 10 Billion by 2050.
Not only is our fresh water supply in jeopardy, but we also generate an astounding amount of harmful waste-water every year from municipal sewage, manure slurry from concentrated animal feedlot operations (CAFOs), stick water from animal rendering plants (Google at your own risk...), and Hydrogen Sulfide-rich beer brewing wastewater, among others. Around the globe, treatment systems struggle to keep pace and often operate based on the premise that "dilution is the solution." As a result, a massive amount of fresh water is "wasted" trying to deal with the dirty water.
Here at Pilus Energy, we have a better idea. Take what we now think of as "waste", and turn it into a renewable source of electricity, while also cleaning water, and producing valuable chemicals and gases. Our patented technology can tap into the estimated 1100 Terawatt hours of energy stored in waste molecules (enough to power about 275 million homes for a year, every year). We are able to extract this energy using a combination of synthetic biology, and fuel cell technology. We utilize our genetically enhanced Bacterial Robots (or BactoBots as we call them) to metabolize the contaminants in the water. So far we have two Bots. RemediBot (or Remi for short) is simply added to the water freely, whereas our GalvaniBot is housed in a fancy fuel cell called an electrogenic bioreactor (or EBR). There, Galvani is able to produce electricity, H2O, and valuable biogases and chemicals.
On November 25, 2013, the Company signed a definitive agreement to acquire Cincinnati, Ohio based Pilus Energy LLC ("Pilus Energy"), a developer of alternative cleantech energy platforms using proprietary microbial solutions that creates electricity while consuming polluting molecules from wastewater. Upon consummation of the proposed reverse merger, which has been unanimously ratified by Tauriga's board of directors, Pilus Energy will become a wholly-owned subsidiary of Tauriga.
About Tauriga Sciences, Inc.:
Tauriga Sciences, Inc. (TAUG) is a diversified company focused on generating profitable revenues through license agreements and the development of a proprietary technology platform in the nano-robotics space. The mission of the Company is to acquire and build a diversified portfolio of cutting edge technology assets that is capital efficient and of significant value to the shareholders. The Company's business model includes the acquisition of licenses, equity stakes, rights on both an exclusive and non-exclusive basis, and entire businesses. Management is firmly committed to building lasting shareholder value in the short, intermediate, and long terms. The Company's new corporate website can be found at (www.tauriga.com).
About Pilus Energy LLC
A developer of alternative cleantech energy solutions, Pilus Energy is developing microbial solutions that clean polluting molecules from wastewater. In the process, the technology generates electricity and produces economically important gases and chemicals. Pilus Energy licenses a low-cost, scalable electrogenic bioreactor platform and wastewater-to-value BactoBots. Pilus Energy will also derive additional revenues from carbon and renewable energy credits (REC). For more information, please visit Pilus Energy's web site, (www.pilusenergy.com).
DISCLAIMER:
Forward-Looking Statements: Except for statements of historical fact, this news release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on TAUG's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which TAUG has little or no control. Such forward-looking statements are made only as of the date of this release, and TAUG assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements. Risks, uncertainties and other factors are discussed in documents filed from time to time by TAUG with the Securities and Exchange Commission. This press release does not and shall not constitute an offer to sell or the solicitation of any offer to buy any of the securities, nor shall there be any sale of the securities, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The securities have not been registered under the Securities Act of 1933, as amended (the "Securities Act") or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Securities Act and applicable state securities laws.