Source: Energenx, Inc.
Energenx Listing Approved-Trading Under Symbol EENX.OB
Monday May 15, 11:17 a.m. ET
POST FALLS, Idaho May 15 Energenx, Inc. (OTC Bulletin Board) an Idaho based electronics company that is engaged in the development of innovate high efficiency energy related products has been approved for trading on the NASDAQ OTC-Bulletin Board market under the symbol EENX.OB. Energenx recently developed a battery charge technology, whose first commercial product is a UL approved high efficiency battery charging system for industrial applications. "Becoming a public listed company completes our company's transition from a private company into a full reporting, publicly traded company," according to President and CEO Gary Bedini. He explained that, "We hope that this important step will improve our ability to raise capital to further our product development programs."
Energenx, Inc. is a technology based company engaged in the discovery, research and development of novel electromagnetic motor/generator and battery charger systems. Our pulse charging solid state battery charger system uses a two phase method to charge batteries with pulsating current rather than with a constant charge current as is used with conventional battery chargers. This type of device uses a timed electrical pulse to create a waveform in a direct current electrical pulse to be discharged into the battery receiving the charge. Our in house research indicates that this technology can be used to increase and preserve for a longer period of time the energy stored in the charged battery as compared to constant current battery chargers. Through our research and development efforts, we have refined our pulse charging technology through several product prototypes. We have completed development of a solid state pulse current battery charging system called the Potential Battery Charger, specifically designed to charge electric powered vehicles such as golf carts, ATVs, forklifts and back-up battery systems. Using the same battery charging technology base as utilized in our battery chargers we have also built and have begun field testing a prototype of a Battery Charge Control Unit for use with residential solar and wind powered electric systems. Energenx's proprietary technology is based primarily on the research of John Bedini, one of the founders of the Company and currently the Vice President for Research and Development.
In 2004, Energenx entered into an Exclusive Technology License Agreement with GTG Corp. pursuant to which Energenx granted an exclusive sub-license to sell and manufacture the Potential Battery Charger to GTG Corp. GTG Corp. is largely owned and controlled by Marvin Redenius, a member of the Energenx board of directors. Energenx will supply proprietary electronic components of the Potential Battery Charger, known as Potential hybrid modules, to GTG Corp. on a cost plus basis.
This press release may contain forward-looking statements that involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements, including risks or uncertainties related to the ability of Energenx to raise subsequent, substantial additional financing, to complete clinical development of Energenx products, and the ability of the Company to successfully develop and market Energenx products and technologies. These statements represent the judgment of management as of this date and are subject to risks and uncertainties that could materially affect the Company. Energenx undertakes no obligation to publicly release the results of any revisions to such forward-looking statements that may be made to reflect recent events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Copyright © 2001 Energenx, Inc.