Hydro Power
Technologies, Inc. Provides Corporate Update and Announces its
Agreement with ITACAR SRL, an Italian Leader in Long Term Auto
Rental and Fleet Management
Burlington, Canada -- May 20, 2021 -- InvestorsHub
NewsWire -- Hydro Power Technologies, Inc. (OTC
Pink: PYBX) (the "Company" or "HPT"), announces the
finalization of an agreement to purchase a fifty percent (90%)
ownership interest in ItaCar Srl ("ItaCar"), of Milan,
Italy.
HPT recently finalized the acquisition of a fifty
percent (90%) ownership interest in ItaCar, a leading Italian
company in the long-term rental and fleet management sector for
companies of any size and for private individuals, with an annual
turnover of 2.8 million euros. Thanks to its partners and team of
consultants, ItaCar has established itself on the national market,
offering the best long term mobility solution to the ItaCar clients
(see https://www.itacar-mobility.com).
HPT will provide up to five hundred thousand
dollars ($500,000) in investment capital to ItaCar for continued
development of its MicroGo project and the deployment of the
MicroGo trolley fleet. The Company is currently completing a
private placement memorandum to facilitate the five
hundred-thousand-dollar ($500,000) investment into ItaCar, thereby
enabling ItaCar to launch the "MicroGO" project in Italy, providing
its clients with the moving assistance solution to be a leader in
the micro-mobility market.
The combination of a perfect knowledge of the
mobility market and a concrete study of the innovations of
micro-mobility, has enabled ItaCar to advance the MicroGo project
to production and marketing, beginning in Italy, and growing into
other Europe locations in 2021.
Gianfranco Scarpa, President of ItaCar says, "The
MicroGO project was born from the growing need to support
micro-mobility companies, by providing specially designed trolleys,
to be attached to cars and trucks, which are equipped to recharge,
assist, maintain and transport electric scooters. The MicroGo
trolleys will provide a "saving time" service, providing fleet
management optimization of micro-mobility scooters in Italy and
other European cities."
"Regarding the numbers," Scarpa adds, "Italy is
the first European country to experience a 147% growth of electric
scooters, compared to the previous year, with 1,200 parking spaces
positioned in Europe's cities, and almost 27,850 scooters by
September 2020, with almost 2,409,000 users, as set out in the 4th
Italian National Report on Sharing Mobility, 2020
edition."
MicroGO is a proprietary patented,
self-sufficient, trailer system with batteries capable of
recharging 50 micro scooters in one (1) hour. The MicroGo trailer
can be fully recharged in eight (8) hours even while transporting
scooters, resulting in approximately 400 daily recharges. One can
just imagine the positive environmental impact, especially
considering that the trailer is light enough to be towed by an
electric car.
THE MICROMOBILITY
SECTOR
Electric scooters are a growing global
business.
Recent studies reported by the Boston Consulting
Group, focused on electric means of transport, suggest the current
market growth for electric scooters is in the $25 to $30 billion
range annually, in the combined Europe and USA
markets.
The 2020/2021 worldwide lock downs have
significantly enhanced the growth of the micro-mobility electric
and e-scooter sales and rental markets, as an alternative to heavy
vehicle congestion, which contribute to significant pollution in
larger European and USA cities, as well as an alternative to public
transport, especially since the world-wide focus on viruses in
2020. Public authorities in many large cities worldwide are the
driving force behind the promotion of micro-mobility technology,
innovation, and development, with improved utility, access, and
infrastructure.
The Mckinsey study points out that by 2025, the
mobility sector will be revolutionized: "Electric scooters are here
to stay and, along with other forms of micro-mobility, will be the
key players in the urban mobility of the
future."
https://www.auto21.net/2019/12/10/la-micro-mobilita-si-arrampica-verso-la-vetta-del-successo-e-piovono-report-per-capirla/
https://www.bicitech.it/bike-sharing-micromobilita-come-cambia-mobilita-urbana/
From an industrial and commercial perspective,
rapid growth is estimated in the coming years, supported by recent
technological evolution. Second-generation models are more robust,
have longer life cycles (doubled from 12 to 24 months of use), and
are equipped with new smart elements, such as anti-vandalism
sensors. The next level of innovation for sharing scooters will be
the batteries, which rechargeable at charging stations located at
various points in a city, where users will be able to charge them
similar to electric cars.
The penetration of e-scooters will depend on urban
planning progress and the development of adequate infrastructure
and regulations to increase the level of safety and decrease the
potential number of accidents.
About Hydro Power Technologies, Inc.
f/k/a/ Playbox (US), Inc.
Hydro Power Technologies' mission is to provide
and to continue to develop new innovative green hydropower
technology options that are grid ready, safe, reliable and cost
effective to energy providers worldwide. HPT has also 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.
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