SPOKANE, Wash., March 12, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- ("REGI" or "RGUS" or "the Company") The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc., (USOTC:RGUS) announce that a provisional patent application has been filed with the U.S. patent office for the use of RadMax two-phase compressors and expanders to increase the efficiency of air conditioning and refrigeration cycles.
According to U.S. Energy Information Administration (EIA) data, approximately 900 billion kW of electricity was used by air conditioning and refrigeration systems in the U.S. in 2016. Analysis shows that the use of RadMax two-phase expanders and compressors could increase overall A/C-refrigeration system efficiency by 5% - 10%, and decreased electricity use by 10% - 15%. If these devices were fully implemented in all relevant applications, 50 150 billion kWh of electricity ($5 - $15 billion), and up to 200 million metric tons of CO2 fossil fuel related emissions could be saved annually in the U.S. alone.
RadMax Technologies has filed a concept paper on the use of RadMax two-phase compressors and expanders for increased air conditioning/refrigeration system efficiency in response to a Department of Energy announcement that funds are available for the development of new high-potential, high-impact energy technologies.
Conceptual design of the new refrigerant based products will be primarily under the direction of Michel Garcia, PhD. Michel recently joined REGI and brings to our engineering staff a wealth of knowledge and experience in the areas of fluid mechanics, thermodynamics, heat transfer and mathematical modeling, as well as metal working and prototype design and testing.
We encourage all investors and interested parties to follow our progress routinely posted on our website radmaxtech.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Contacts:
Regi U.S., Inc.
Paul Chute, CEO
(509) 474-1040,
520 N. Market St. STE # 10
Spokane, WA. 99217-7800
ABOUT REGI U.S., INC.
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is developing for commercialization multiple improved axial vane type rotary devices using our Patented RadMax Rotary Technology. This Technology allows for revolutionary designs of lightweight and high efficiency engines, compressors pumps and other devices. One current prototype, The RadMax engine, has only two unique moving parts, the vanes (up to 12) and the rotor, compared to the 40 moving parts in a simple four-cylinder piston engine. This innovative design makes it possible to produce up to 24 continuous power impulses per one rotation that is vibration-free and extremely quiet. The RadMax engine also has several capabilities allowing it to operate on fuels including gasoline, natural gas, hydrogen, propane and diesel. For more information, please visit radmaxtech.com
READER ADVISORY
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.
Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: the impact of competitive products and pricing, the Companies' dependence on third parties and licensing/service supply agreements, and the ability of competitors to license the same technologies as the Companies or develop or license other functionally equivalent technologies; financing requirements; changes in laws, rules and regulations applicable to the Companies and changes in how they are interpreted and enforced, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in the United States, industry conditions, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange, stock market volatility and market valuations of companies with respect to announced transactions. The Companies' actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements, including those described in Regi U.S., Inc.'s financial statements, management discussion and analysis and material change reports filed with the United States Securities and Exchange Commission at www.sec.gov, and REGI's Form 10-K annual report filed with the United States Securities and Exchange Commission at www.sec.gov. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Companies will derive therefrom.
Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Companies or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Companies do not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.