Intelligent Highway Solutions Signs Memorandum of Understanding to Acquire 100% of Fazync Corporation; Potential Multi-Billion
September 19 2017 - 9:00AM
InvestorsHub NewsWire
Intelligent Highway Solutions Signs Memorandum of Understanding
to Acquire 100% of Fazync Corporation; Potential Multi-Billion
Answer to Wasted Electricity
Sacramento, CA -- September 19, 2017 -- InvestorsHub NewsWire --
Intelligent Highway Solutions, Inc. (OTC
PINK: IHSI) announced today it has signed a Memorandum of
Understanding to acquire 100% of Fazync Corporation. The memorandum
means IHSI will own 20% equity interest in the Fazync Phase Angle
Synchronization equipment that, for the first time, will allow
electric utilities to recycle wasted electricity. The inventor owns
the balance of the interest
The acquisition allows Fazync Corporation the rights to
manufacture market and sell the Fazync Phase Angle Synchronization
technology. Fazync Corporation will install the Fazync technology
system in its new facility in Sacramento, California, that will be
a live, real-time operational unit. IHSI is setting up
demonstrations for utilities, large commercial and industrial users
at our new facility.
Devon Jones, CEO of IHSI, stated, The LOI that was signed last
month with Fazync LLC was the initial step that moved us to taking
an equity position in Fazync. This memorandum, and the forthcoming
definitive agreements, are a natural evolution, moving our
understanding of the technology from market testing to market
acceptance. We have met with utilities, commercial and industrial
owners, and the idea of recycling energy has generated enormous
interest. We are moving forward to demonstrate the technology. We
have scheduled upcoming, live demonstrations.
Mr. Jones continued, We anticipate having then new facility and
the demonstrations ready to go within the next 60 days. Check our
Twitter and Facebook pages for updates.
It is estimated that 40 percent of all electricity that is
generated and utilized at large industrial sites is lost. When
installed at the host facility, the Fazync product will allow
electricity lost at a large industrial plant to be saved and
utilized. We are confident that utilities will learn that by
leasing this technology they can extend the life of their grid,
protect it from excessive wear, damage, reduce the incidence of
power outages that cost the industry an estimated $150 billion a
year, and perhaps avoid having to build a new multi-billion dollar
power plant, Mr. Jones concluded
About Intelligent Highway Solutions, Inc.
Intelligent Highway Solutions, Inc. was formed in April 2011.
IHSI provides technology driven solutions for commercial,
industrial, and municipal facilities, from full-turn-key general
contracting to LED lighting retrofits, HVAC and temperature control
upgrades, to solar renewable energy systems, working with
commercial developer, government and transportations sectors.
Fazync technology is the first and only Phase Angle Synchronization
technology that re-cycles electricity with the addition of Cresent
Construction, North Carolina, and IHSI is a full-service general
contractor providing design, installation and construction
management services.
Forward Looking Statements: Any statements contained herein that
are not historical facts are "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. These forward-looking statements are made subject to
certain risks and uncertainties, which could cause actual results
to differ materially from those presented. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only to the date such information was released. The
Company undertakes no obligation to publicly revise these
forward-looking statements to reflect events or circumstances that
arise after release of this information.
Contact: Paul Knopick
pknopick@eandecommunications.com
940.262.3584