NEW YORK, March 20, 2013 /PRNewswire/ -- Since its
beginnings as a company that focused on mineral exploration when it
was founded in 2005, Novagen Solar Inc. has consistently evolved
and grown. The firm, which is based in Australia and is expanding operations in
the United States, was originally
called Pickford Minerals Inc., changed its name to Novagen Solar
Inc. in 2009 to reflect its emphasis on solar energy before new
management took over in December 2011
and carved a niche in engine development.
Novagen (OTCQB: NOVZ) is experiencing growth under
President and CEO Micheal Nugent,
who invented the Novagen engine and is steering the company to
cultivate a thriving engineering and manufacturing core in the
development of products for commercialization in the areas of solar
energy, bio fuels, low-carbon emission engines and other green
technologies.
When Novagen expanded into engine development in 2011, it
launched operations in Australia
and has facilitated its growth there through acquisitions and the
formation of wholly owned subsidiaries. Bolstered by this
expansion, Novagen's team has expertise in engine development,
sales and service; aerospace product development; oil exploration;
and mining equipment and infrastructure product development,
accounting and corporate management.
"We are increasing our capabilities by identifying local
businesses that provide services that we previously did not offer,"
Nugent said. "This strategy helps us become more versatile and
allows us to even more effectively achieve our commitment to making
the world a better place through our technology."
In 2012, Novagen bought Renegade Engine Company Pty
Ltd., a company that designs, develops and manufactures V-Twin
motorcycle engines, custom motorcycles and related
urban clothing under the Renegade brand.
Last year, Novagen also acquired Y Engine Developments Pty Ltd.,
which owns the rights and patentable rights to the opposing piston
divaricate cylinder twin crank journal engine
embodiment.
Earlier in March, Novagen announced the planned
acquisition of Argon Aluminum and the planned addition of aircraft
computerized hydraulic test station and associated intellectual
property from Misal Technologies Pty Ltd of Victoria, Australia. The transactions reflect
the aforementioned growth strategy.
Novagen is proposing to purchase Argon Aluminium through
its wholly-owned subsidiary, Renegade Engine Company Pty Ltd from
Newscope Enterprises Pty Ltd. Based in Tweed
Heads, NSW, Australia, Argon
Aluminum fabricates, manufactures and installs aluminium, stainless
steel, steel and glass fabricated products. Since Argon Aluminium
has a core business that focuses on balustrades, security fencing,
industrial fabrication and bench work, there is significant synergy
with Renegade Engine Company.
Argon supplies clients in the local domestic market as
well as larger projects that involve builders and architects. The
company has 12 employees (including an estimator, factory
supervisor, project manager, tradespeople, administration staff
members and apprentices) along with sub-contract
installers.
Also under agreement for acquisition is the Misal Aircraft
Computerized Hydraulic Test Stations. (ACHTS) are designed to test
fixed hydraulic components like actuators, cylinder assemblies,
hoses, manifolds and valves for civil and military aircraft,
including the F-111 Fighter and the Collins Class Submarines. Misal
has developed fixed hydraulic test stations that are used in
hangers, manufacturing facilities and workshops.
Misal has also developed mobile hydraulic test stations.
These stations are complete, compact, self-contained units intended
for ground support use to rapidly and accurately test the
performance and operating characteristics of aircraft hydraulic
systems in the field.
"We continue to explore opportunities to expand our value
engineering capabilities, and the acquisitions last year and this
year represent our commitment to enhancing our scope of services,"
Nugent said. "Novagen will continue to match current
operations with identified targets that further strengthen our
product manufacturing and development."
About Novagen Solar Inc.
Novagen
Solar, Inc. (OTCQB: NOVZ) is engaged in the development and
commercialization of low carbon emission engines and other clean
technology solutions with a view to create technologies that
improve efficiency and reduce levels of greenhouse emissions in a
low-cost, globally relevant way. Novagen's operations are based in
Queensland,
Australia.
Safe Harbor
Statement
Statements made in this
press release are forward-looking and are made pursuant to the safe
harbor provisions of the Securities Litigation Reform Act of 1995.
Risk factors that could cause actual results to differ materially
from those projected in forward-looking statements include, but are
not limited to, general business conditions, managing growth, and
political and other business risks. All forward-looking statements
are expressly qualified in their entirety by this paragraph and the
risks and other factors detailed in Novagen's reports filed with
the Securities and Exchange Commission. Novagen undertakes no duty
to update these forward-looking statements.
Contact: Micheal Nugent
Tel: +61 438
158 688
Cell: 310 994
7988
Email:
mnugent@novagenenergy.com
SOURCE Novagen Solar Inc.