Hydro Power
Technologies, Inc. Provides
Corporate Update and
Announces Its
Strategic Agreement with
ZUC Energy
SRL
Burlington, Canada -- May
18, 2021 -- InvestorsHub NewsWire -- Hydro Power Technologies, Inc.
(OTC
Pink: PYBX) (the "Company" or "HPT"), provides a corporate
update and announces its agreement with Zuc Energy SRL, a European
Leader in Modular Solar Panel Systems based in Verona,
Italy.
On April 5, 2021, the
Company completed the change of its Transfer Agent to Pacific Stock
Transfer Company of Las Vegas, Nevada.
Pacific Stock Transfer is a subsidiary of Pacific Services Group
Ltd., which is also the parent company of Capital Transfer Agency
of Toronto, Ontario. As one of the largest transfer agency groups
in the USA, representing over 2,300 publicly traded and private
issuers, Pacific Stock Transfer is a premier professional services
firm that prides itself on providing the highest-quality service in
the industry. Pacific Stock Transfer and Capital Transfer Agency
are registered with the Securities and Exchange Commission and are
members of the Securities Transfer Association (STA) and Securities
Transfer Association of Canada (STAC).
On March 5, 2021 HPT
completed negotiation to acquire 50% of Zuc Energy SRL. ZUC
Energy was formed in 2020 as an "Innovative Startup" in Italy,
which, according to European Union regulation, qualifies ZUC Energy
for special grants and financial support for its projects. ZUC
Energy was formed by a pool of engineering specialists, who have
very significant experience in photovoltaic activities, gained
mainly from their many years in the research and development, which
led to the development of the ZUC-SOLAR ORC® module and the
Riverclack® Roof System.
In its early life, ZUC
Energy has already achieved important results in the photovoltaic
sector, with its know-how, patents, systems and order portfolio,
allowing it to focus on its ambitious goals. It is projecting 2021
gross revenue of 5 million euros, with EBITDA of 16.5%. In
addition, the company is planning to achieve year-over-year growth
of 9% over the next five years.
HPT President, Michael
Shamber, states, "We are pleased to announce the first of three
agreements that we have been negotiating over the past ten weeks.
This first agreement between ZUC Energy and HPT is based on a
private equity investment of up to Two Million Five Hundred
Thousand Dollars for continued development and deployment of the
ZUC Energy green energy solutions, which, when added to the
possible European Union "Innovative Start Up" grants, for up to 2.5
million euros, could greatly enhance the Company's ability to
achieve its financial projections for the next five years. HPT is
pleased to incorporate ZUC Energy and its technologies into our
Green Energy group."
ZUC ENERGY - Milan
Fair –Italy
About Hydro Power
Technologies, Inc. (OTC
Pink: PYBX)
HPT's mission is to
provide and to continue to develop new innovative green hydropower
technology options that are grid ready, safe, reliable and cost
effective for utility providers worldwide. HPT has developed a
system to increase the power output of an impact turbine hydro
generation system. The first generation of products from the HPT
system known as "Hammer1", utilizes hydraulic water phenomena to
produce rapid fire, high speed, long water projectiles that have a
velocity 1.25 to 1.30 times greater velocity than the traditional
"Free Flow" turbines in operation today. The additional velocity
increases the rotational torque of the impact turbine runner, thus
increasing the power generation much more efficiently than today's
installed power generation plants.
Contact
Information:
Michael Shamber
Hydro Power Technologies,
Inc.
888-993-0989
info@hydropowertechnologies.com
https://twitter.com/HydroPowerTech
FORWARD-LOOKING
STATEMENTS
This press release
includes "forward-looking statements" within the meaning of U.S.
federal securities laws. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "continue" and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements involve significant risks and uncertainties that could
cause the actual results to differ materially from the expected
results and, consequently, you should not rely on these
forward-looking statements as predictions of future events. These
forward-looking statements and factors that may cause such
differences include, without limitation inability to enter into a
definitive agreement with respect to the proposed transaction or to
complete the transactions contemplated by the non-binding term
sheet, matters discovered by the parties as they complete their
respective due diligence investigation of the other. Other factors
include the possibility that the proposed transaction does not
close, including due to the failure to receive required security
holder approvals, or the failure of other closing conditions. The
foregoing list of factors is not exclusive. Readers are cautioned
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made.