Hydrogen Engine Center, Inc. (PC) (USOTC:HYEG)
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5 Years : From Sep 2014 to Sep 2019
Hydrogen Engine Center, Inc. (Pink Sheets: HYEG) announced today further
information regarding its corporate finance plans.
Ted Hollinger has agreed to sell 15 million shares of his HEC stock to
PES, a leading renewable energy developer based in St. Paul, Minnesota.
Ted has been looking for a synergistic company that could fulfill his
dreams for HEC. He said that he would like to return in 15 years and see
the company he had always hoped for. PES is headed by a capable
President/CEO who has surrounded himself with an experienced and
professional staff. They bring the sales, marketing, system engineering,
project management and project finance experience that compliment HEC
very nicely. David Ault, PES President/CEO and Ted agree that the new
Megawatt Electrical Power Generator Systems have a great future. HEC
intends to immediately expand production to 2MW per month with the
intent of reaching 20MW per month. The current facility is capable of
supporting this level of production.
The company intends to add more engineering and production staffing to
handle growing demand. Mr. Ault plans to expand the product offering
with a configurable and deployable megawatt class of power generation
unit with on-board fuel tanking capable of 250kW units to 1MW of power.
These new units will be able to run on multiple fuels with popular
options available in a fully deployable and transportable container
configuration. Mr. Ault believes this will be an important part of new
company new sales opportunities.
David Ault, President and CEO of Private Energy Systems, Inc. said his
firm has extensive sales experience and project management in technology
and renewable energy sectors. “Our business history spans over 21 years
in successful businesses and offers the ability to drive HEC to its full
potential. Large energy projects and financing structure will prove to
be another asset as HEC obtains larger project opportunities” Mr. Ault
The securities being offered will not be registered under the Securities
Act of 1933 or any state securities laws, and unless so registered, may
not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the Securities Act of
1933 and applicable state laws. This announcement is neither an offer to
sell nor a solicitation of an offer to buy any of these securities and
shall not constitute an offer, solicitation or sale in any jurisdiction
in which such offer, solicitation or sale is unlawful.
About Hydrogen Engine Center, Inc.
Hydrogen Engine Center, Inc. designs and manufactures generation
markets. The engines run efficiently, with minor adjustments, on
hydrogen, ethanol, propane, natural gas or methanol. HEC trades on the
Bulletin Board under the symbol “HYEG.PK.” Its principal offices are
located at 2502 East Poplar Street, Algona, IA 50511 Visit or call Ted
Hollinger at 515-295-3178 for more information.
This press release may contain certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. Investors are cautioned
that such forward-looking statements involve risks and uncertainties,
including without limitation, acceptance of the Company's products,
increased levels of competition for the Company, new products and
technological changes, the Company's dependence on third-party
suppliers, and other risks detailed from time to time in the Company's
periodic reports filed with the Securities and Exchange Commission.