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I've e-mailed and called over the last 3-4 weeks. No return e-mails or calls. Very frustrating.
Trim your positions - the run has reversed. The volume has been lower so this could tick up on renewed daily volume but better to lock in some gains. Zero news out of the company, website hasn’t been updated in years and company doesn’t respond to emails (which is a Yahoo account and not a paid professional company email address).
This could have run on hype with nothing to back it up. I still believe there is massive value in their patents but need someone in charge to be able to sell or license them.
No one willing to dump shares at these levels. Smart move since the stock will double in a matter of weeks or days.
Hope you're right, been in HYEG since 2005!
This is going to .40 in the next 30 days. Get in now!
It’s just keeps moving higher and zero comments on the boards. Who is buying if it’s not the regular OTC buyers who are usually active on these boards? Insiders maybe?
When will people see this move has legs and finally buy. There was a swell in volume last week.
3 straight days of increasing volumes. Have to buy now or miss the bus. Interest in growing in the stock and pressure will push this much higher in a matter of days or even hours.
Up 30%. Buy now or get left behind. Low share count and multiple patents make this worth as much as $3.00 a share if they sell the patents outright to an automaker or hydrogen energy company. If the company decided to operate and license the patents it could go even higher.
Get in now. Tesla $25k car is coming within 3 years. Other auto makers aren’t going to be able to compete with battery EVs at that level. They will need to differentiate their product offerings to focus on hydrogen fuel cell being cleaner and reduced “refueling” time compared to electric battery. HYEG patents get more valuable by the day.
First commercial hydrogen fuel cell plane flew today in England. This is the technology of the future - much cleaner than electric cars... no mining for lithium, no coal burning power plants to supply the electricity to charge the battery and no range limitations - fuels up nearly as quick as gasoline vs hours for electric cars. This company has 6 patents on hydrogen fuel cell engines. Someone is going to buy them to control the patents.
Time to step in and buy up every sub-.10 share available.
Trending higher still. Next range will be .135 and .12 for a week or two. Buy at these levels while you can.
Should be loading at these levels if shares come available. This wants to trade closer to .20 on a consistent basis.
There seems to be no news out of the company recently to cause the move. I would guess it’s the popularity of alternative energy drive systems causing people to look into the proven patents the company holds. There is a lot of value here even with no recurring revenue stream. Selling the patents could cause a nice dividend or keep the patents and generate royalties.
I guess no one knows the reason for the huge increase in price lately?
I'll call the company. I used to speak regularly w/Ted Hollinger.
Is he still w/the company? I think he's pretty up there in years.
Up 96% and huge jump in volume and zero activity on the board. Think this move is real and not people just looking for a random penny stock.
Keep buying. Added volume today and pps keeps pushing higher.
Today is the day. More volume in first 50 minutes than we usually see all day. Interest is building in the company. Need a PR from the company on updates.
If we sustain this .10 level the company will complete an offering to raise capital. That will be a very good thing because they can fund development at a reasonable share price. Much better than the 5x dilution selling at .02 would have been for the company.
Consolidation period is over and now ready to move to .14 level. Time to load because this has proven resistant to any downward pressures.
It is getting close to the point where 100k volume day could cause a swell of chasers that will drive this to .20
There is a lot to prove but it's administratively not technologically. Let's have a great weekend!!!
I guess the run had been longer than I was thinking. Quite the move on zero news and questionable status of operations. I added to my position. Their patents and technology could help generate revenue at some point. And it’s one of the hottest sectors right now - alternative propulsion for vehicles and electric generation and storage.
It's not just the past month, it's been since before Christmas. The life of a micro float trader really has rewards sometimes!!!
The action the past month has been sweeeeettt
1
INVESTOR DISCLOSURE STATEMENT
Pursuant to Rule 15c2-11(a)(5)
For
HYDROGEN ENGINE CENTER, INC. (Nevada)
203 Old Wilson Hill Road
Greeneville TN 37745
www.hectina.net
October 4, 2019
Further data to comply with the Basic Disclosure Guidelines
Federal securities laws, such as Rules 10b-5 and 15c2-11 of the Securities Exchange Act of
1934 (“Exchange Act”) as well as Rule 144 of the Securities Act of 1933 (“Securities Act”),
and state Blue Sky laws, require issuers to provide adequate current information to the public
markets. With a view to encouraging compliance with these laws, OTC Markets Group has
created these OTC Pink Basic Disclosure Guidelines. We use the basic disclosure information
provided by OTC Pink companies under these guidelines to designate the appropriate tier in
the OTC Pink marketplace: Current, Limited or No Information. OTC Markets Group may
require companies with securities designated as “Caveat Emptor” to make additional
disclosures in order to qualify for OTC Pink Current Information tier.
2
HYDROGEN ENGINE CENTER, INC. (Nevada)
INVESTOR DISCLOSURE STATEMENT OCT 4 2019
All information contained in this Report has been compiled to fulfill the disclosure requirements of
Rule 15c2-11(a)(5) promulgated under the Securities and Exchange Act of 1934, as amended (the
“Exchange Act”). The enumerated captions contained herein correspond to the sequential format as set
forth in the rule. No dealer, salesman or any other person has been authorized to give any information
or to make any representations not contained herein in connection with the Issuer. Any representations
not contained herein must not be relied upon as having been made or authorized by the Issuer.
CURRENT FINANCIAL RISK TO ENTERPRISE
The discussion and analysis contained in this Investor Disclosure Statement should be read in
conjunction with the other financial information and consolidated financial statements and related notes
included reported by the Company on OTC MARKETS web page:
https://www.otcmarkets.com/stock/HYEG/disclosure
The ability of the Company to continue as a going concern is dependent upon the Company’s ability to
raise capital in the short term while further advancing business plans and revenue opportunities.
In HEC’s previous Financial Reports and Statements to Investors, we have disclosed serious risks which
could precipitate an existential crisis for the Company. Unfortunately, HEC has not been able to
generate sufficient revenues from: new product revenues, inventory sales or other sources which are
required cover operating costs. A liquation auction in June produced two months operating capital. Over
the last few months, HEC has not had sufficient capital to cover major operational expenses including:
the mortgage, employee payroll and accounts payable for critical legal, accounting and other support.
Further, HEC is no longer able to publish reports on OTC Markets due to an overdue renewal fee.
Additional financing is required to proceed with our anticipated business activities.
At this time HEC is facing a serious threat and its continued existence is dependent principally on upon
our ability to resolve our liquidity problems. We have yet to generate a positive internal cash flow, and
until meaningful sales of our products begin, we are dependent upon debt and equity funding.
While the Company believes in the viability of its technological advantage and business strategy, there
is a significant challenge in raising new capital with HEC’s large quantum of defaulted debt and future
investment requirements. Consequently, there can be no assurances that HEC will be able to raise
sufficient capital to continue as a going concern.
Since inception, HEC has incurred substantial operating losses and expects to incur additional operating
losses in 2019. We have financed operations since inception primarily through equity and debt
financings. For several years, several million dollars in operating losses and capex have been funded
by investments from our Chairman Pedro Blach. Without the support of another strategic investor, HEC
has been unable to overcome the dual headwinds of legacy defaulted debt and the high capital costs of
developing, testing and marketing innovative and possibly disruptive hydrogen P2G technology.
Late in September, APEX BANK began steps to foreclose on the 203 Old Wilson Hill, Greeneville TN
property which is also listed for sale at $650,000. This week a creditor from HEC Iowa, Jeff Druek, has
placed a lien on the property and its contents. Those contents include our inventory of parts and our
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working PEM and ICE Genset demo units.
We are currently exploring a variety of other opportunities to obtain additional capital through a private
placement. There is no assurance that we will be able to raise the necessary capital or that the capital,
if available, will be available on terms that will be acceptable to us.
If adequate funds are not available in the very near term or are not available on acceptable terms, our
ability to fund our operations, take advantage of opportunities, develop products and technologies, and
otherwise respond to competitive pressures will be limited or curtailed entirely with a halt to all
operations. If we are not able to obtain the needed financing in a timely fashion, our ability to survive
as a going concern will be materially impaired.
The potential for us withstand the current financial pressures and to rebuild the company in order to
generate future profits depends on many factors, including the following:
• timely receipt of required financing beyond our initial expectations;
• successful pursuit of our research and development efforts;
• protection of our intellectual property;
• quality and reliability of our products;
• size and timing of future customer orders, milestone achievement, product delivery and
customer acceptance;
• success in maintaining and enhancing existing strategic relationships and developing new
strategic relationships with potential customers;
• actions taken by competitors, including suppliers of traditional engines, hydrogen fuel cells
and new product introductions and pricing changes; and
• reliability of our suppliers.
We cannot assure you that we will achieve success as to any of the foregoing factors or realize
profitability in the immediate future or at any time.
Our future success depends largely on the outcome of the present financial deficit as well as the
retention of key executives. It would be difficult for us to replace any one of these individuals escecillay
at this difficult period of financial instability.
It may be difficult for a third party to acquire us, and this could depress our stock price.
Nevada corporate law includes provisions that could delay, defer, or prevent a change in control of our
Company or our management. These provisions could discourage information contests and make it
more difficult for stockholders to elect directors and take other corporate actions. As a result, these
provisions could limit the price that investors are willing to pay in the future for shares of our common
stock. For example:
• Without prior stockholder approval, the board of directors has the authority to issue one or
more classes of preferred stock with rights senior to those of common stock and to
determine the rights, privileges, and preferences of that preferred stock; and
• There is no cumulative voting in the election of directors; and
NAME OF THE ISSUER AND ITS PREDECESSORS (IF ANY)
“HYDROGEN ENGINE CENTER, INC.”, a Nevada corporation (referenced below as “HEC”, the
“Company”, “we”, “us”, or “our”)
ADDRESS OF THE ISSUER PRINCIPAL EXECUTIVE OFFICES
Company Headquarters
203 Old Wilson Hill Road
Greeneville, TN 37745
4
Phone (423) 470-3425
Email: hec.tinakt@gmail.com
Investor Relations Contact:
Kim Tillson
203 Old Wilson Hill Road
Greeneville, TN 37745
Phone (423) 278-2952
Website:
www.hectina.net
ITEM 3. SECURITY INFORMATION
Trading Symbol: HYEG
CUSIP: 448876102
The par or stated value of the security:
A. Par or Stated Value of each class of outstanding securities. The par value of Common Stock
is $0.001.
B. Voting Rights, Dividend, Pre-emptive Rights, and other matters regarding Common
Stock. Every shareholder of record shall be entitled at every meeting of the shareholders of
the Company to one vote for every share of Common Stock standing in its name on the record
of the shareholders. There are no pre-emptive rights on the Common Stock of the Company.
Transfer Agent Address:
Interstate Transfer Company, 1671 Roycroft PL, Suite C, Salt Lake City UT, 84124 (phone number:
(801) 414-3928), is registered under the Exchange Act.
Restrictions on the transfer of any security:
The majority of “HEC” Shares (39,351,802) have not been registered under the U.S. Securities Act of
1933, as amended (the “Securities Act”) and the Shares will be “restricted securities” under Rule 144
promulgated under the Securities Act (“Rule 144”).
The provisions of Rule 144 that allow for the unrestricted resale of shares are not available to a holder
of restricted shares issued by any company that was at any time, like HEC, a shell company. Under
current rules, holders of our restricted shares cannot have that restriction removed unless and until HEC
is current on all of its periodic reports required to be filed with the Securities and Exchange Commission
(“SEC”) during the 12 months before the date of the shareholder’s resale.
Date and State of Incorporation
The Company was incorporated in the State of Nevada on August 3, 2000, under the name Green Mt.
Labs, Inc. On August 30, 2005, the name was changed to “Hydrogen Engine Center, Inc.”
HEC Fiscal Year End Date
5
The Issuer’s fiscal year end is December 31.
Primary and Secondary SIC Codes
Primary SIC Code: 3510
Employees
As of June 30, 2019, HEC-TINA had 3 employees, 2 were full time and 1 was part time maintenance
and technical assistant. Our employees are not members of any union, and they have not entered into
any collective bargaining agreements. We believe that our relationship with our employees is good.
Description of HEC Business Operations as of the date of this report
HEC has two wholly owned subsidiaries, Hydrogen Engine Center Inc., an Iowa Corporation (“HECI”),
and HEC-TINA Inc., a Nevada Corporation (“HEC-TINA”). HECI has ceased conducting business
operations on or about December 31, 2014. On August 8, 2018, the Iowa Secretary of State
administratively dissolved HECI pursuant to Iowa Code sections 490.1420(1) and 490.1421 for failure
to deliver the 2018 Biennial Report as required by Iowa Code section 490.1622.
From 2005 until December 2014, HEC Inc. (Iowa) produced reliable lowest emission fuel spark-ignited
ICE, fueled by hydrogen, biogas, natural gas and syngas. These ICEs coupled to generators can
generate AC or DC power at any utility frequency and voltage under the category of “ultra-light
emission systems”.
HEC has spent the last 10 years developing technology related to green energies. HEC currently has 3
main patents pending or granted, with more in the planning stage. We feel our patent portfolio has a
great deal of value and will be the future life-blood of our Company. Our intent is to capitalize on this
technology as soon possible by transitioning the Company from more of a R&D phase to one of
manufacturing, marketing and sales.
• Patent PCT/EP 2012/072982 issued to TINA ENERGY SYSTEMS, title invention “PEM
Type electrolyzer stack for operation at High Pressure” with International publication number
WO 2014/075741 A1;
• Patent ES200900163 issued in 2007, to TINA ENERGY SYSTEMS, title invention “PEM
Type electrolyzer stack for operation at High Pressure” and assigned to HEC-TINA; and
• Patent PCT/ES2010/070020 to TINA ENERGY SYSTEMS, title invention “PEM
Type electrolyzer stack for operation at High Pressure” and assigned to HEC-TINA
(International publication WO 2010/084227 A1), based on the patent ES200900163.
HEC-TINA has developed a completely green, innovative technology system, which guarantees
24/7/365 access to electricity in a wholly independent and environmentally friendly way, with
renewables (sun and/or wind) and water as the only consumables. Its operation is fully automatic
and is monitored online via Internet satellite connection and its maintenance is simple and easy.
The project involves the assembly and production of energy modules comprised of different patented
sub-systems, and also consists of the promotion and commercialization of the modules.
The main components and the technology related to HEC-TINA energy modules are in the commercial
stage and comply with the corresponding certification for their use with hydrogen at high pressure.
HEC-TINA’s exclusive high-pressure PEM electrolysis technology is capable of generating pressurized
hydrogen and oxygen, to pressures up to 3,000 Psi, without the need of mechanical compression. The
6
self-pressurized design makes the system efficient and simplifies the installation of hydrogen-based
energy production and storage systems. This technology allows HEC-TINA to produce “ready to store”
hydrogen as energy carrier as long as there is water and electricity available from renewables.
PEM electrolyzed system of HEC-TINA is characterized for being the only one in the market capable
of turning water into hydrogen and oxygen at direct high pressures 3,000 Psi without additional
compression. Compression is one of the highest cost contributors to high-pressure hydrogen
production using electrolysis, making HEC-TINA systems one of the most efficient hydrogen energy
systems.
Forward-looking statements
This discussion contains forward-looking statements that involve risks and uncertainties. In some cases,
you can identify forward-looking statements by words such as “estimate", "project", "intend",
"forecast", “plan”, “expect”, "anticipate", "believe", “goal”, "will", "could", "would", “may", or the
negative of such terms and other compatible terminology. You should not place undue reliance on these
forward-looking statements, which speak only as of the date made. Our actual results will depend upon
a number of factors beyond our control and could differ materially from those anticipated in the
forward-looking statements. Some of these factors are discussed below and elsewhere in this form. We
assume no obligation to update the forward-looking statements after the date hereof whether as a result
of new information or events, changed circumstances or otherwise, except as required by law.
ISSUER’S FACILITIES
The HEC –TINA industrial facilities are located at 203 Old Wilson Hill Road, Greeneville, Tennessee. The facilities
consist of three buildings with a total area of 40,000 square feet on 5.92 acres. Presently we utilize one of the buildings
with 10,000 square feet and plan to lease the other two buildings in order to cover our own utilities cost and cover
the $2,200 monthly payment of the loan that has been granted for the purchase of the building. We have listed the
building for sale with a lease back agreement. There is currently a foreclosure action by APEX Bank pending on this
property and a lien enforced by Jeff Druek, a creditor for a defaulted HEC Iowa loan.
ITEM 8. OFFICERS, DIRECTORS, AND CONTROL PERSONS
Officers, Directors and Control Persons at October 4 2019
Name: Michael Hedges CEO & CFO, Board Member
Address: 203 Old Wilson Hill Road
Greeneville TN 37745
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???? ????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
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7
Name: Pedro Blach President & Chairman of the Board
Address Apart. 13A Devonshire St
Cable Beach
New Providence
Bahamas
Name: Kim Tilson Assistant to the Chairman of the Board
Address 203 Old Wilson Hill Road
Greeneville TN 37745
Name: Antonio Gomez CTO & Board Member
Address 203 Old Wilson Hill Road
Greeneville TN 37745
Name: Theodore G. Hollinger Control Person
Adddress: 215 Appian Way
Greeneville TN 37745
Name: TINA Energy Systems Control Person
Address: C/Alcala nº59-5
Madrid 28014 Spain
Name: Gary L. Gunderson and
Diana M. Gunderson Control Persons
Address: 180 Highway 51
Postville, IA 52162
Control Person* - Greater than 5% Shareholding
Vladimir N. Fateev, Ph.D. and Glenn Eisman, Ph.D. serve as advisors to the Board of Directors. Antonio
Gomez, Michael Hedges and Jose Arozamena were appointed to the Board of Directors.
Pedro Blach, Founder, President & Chairman of the Board of TINA ENERGY SYSTEMS
proprietor of several patents of PEM Electrolyzers for Direct Hydrogen & Oxygen Production at High
Pressure. Over 15 years in the Energy Sector, especially in Green Energies and Oil & Gas, successfully
managing projects, operations and companies in South America and Africa. Founder & COB of several
successful start-up companies in the Sector. Patented various technologies for improved oil and gas
wells production (Gas-Impulse Technology). Advisor for Foster Wheeler in various LNG projects in
Argentina and Bolivia and YUKOS. Coordinated multi-million-dollar Oil Contract pre-financing for
Shipment Facility in Angola with UBS and BP. Coordinated Barter transactions with NIOC and various
Oil trading shipments with NNPC. Appointed as consultant of Yukos has lead the negotiations between
Yukos, Goldman Sachs and Repsol a financing facility to settle the $ 20 billion Yukos tax debt. Mr.
Blach is also a Founder of companies operating in the Solar Industry via proprietary patents (SIGOT,
Solar grade Silicon plasma synthesis) whilst remaining active in the Oil and Gas Industry through
several entities as equity holder. BS in Politics and International Relations. Has collaborated with Bill
Rattliff and Roger W. Fontaine in institutions such as the “Hoover Institution on War Revolution and
Peace”, the “United States Global Strategic Council” and the “American Journalism Foundation”. Coauthored
“The Coming Oil Shortage” (Trafford Publishing) with Roger W. Fontaine.
Michael Hedges, Jr., CEO and CFO. Member of Board of Directors With over 20 years of
experience in financial markets with senior business and management roles at Merrill Lynch, Deutsche
Bank and Citigroup and Auriga USA, Mr. Hedges has had a career, which began in private banking and
subsequently FX at Merrill Lynch. Michael then helped DB build its FX derivatives business before
assuming responsibility for global emerging markets derivatives structuring at DB. During that time,
Mr. Hedges was a key participant in the sovereign debt negotiations with Russia and was the de-facto
Chairman of the Group of 19 Banks, which initiated the Moscow Club negotiations. Later Michael ran
8
eCommerce Sales for DB Global Markets. At Citibank, Michael traded the Emerging Markets Credit
Exotics book and was responsible for business oversight of the trading technology development.
Michael founded a hedge fund advisory business Pavisier and was co-author of a published paper on
an innovative approach to statistically identifying multi-regime markets. At Auriga, Michael has been
the point person for the development of the SREC trading strategy. Michael has a BA in Economics
from Columbia University and an MBA from NYU Stern School of Business. Most recently, Mr.
Hedges was responsible for research and strategy for the highly successful Solar Opportunity Fund,
which identified an opportunity to invest in Massachusetts Solar Renewable Energy Certificates with a
yield over 20% per annum over a five-year term.
Antonio Gomez, BS in Industrial Engineering, CTO Member Board of Directors. Mr. Gomez
specializes in machine mechanics and Internal combustion engines. Harvard University: Executive
Program 2012 “Building competitive advantage in the global market: USA & Spain”. CTO of the
company devoted to modifying internal combustion engines to forced induction and/or to alternative
fuels (LPG, CNG, LNG, Ethanol). Executive Member of the Board in the companies of the group
devoted to projects in the Energy and transport industries. Design and manufacturing of electric and
hybrid vehicles, and their recharging systems of High efficiency and power density electric Motors and
generators Renewal Energy systems (Wind, Photovoltaic, Thermal Solar, Hydro.) Energy Efficiency
(Power electronics, LED lighting, active isolation, etc.) CTO of the Company devoted to R&D, design
and manufacturing of Fuel Cells, Water Electrolyzers and their components for the automotive and
energy industries Creation and implementation of financial, technical and commercial procedures.
Development and implementation of the industrial production processes. Coordination and follow up
of the multinational relationships with other industry players, associations, and public institutions.
Member of the automotive and energy divisions. Responsible of the car manufacturer’s technical
support area. International responsible of training for distribution networks, and after sales services of
new products and its diagnosis, maintenance and repair procedures. Consultancy on design and
implementation of new management policies at all levels of automotive business, such
as organizational, marketing, commercial, financial and operations.
Dr. Glenn Eisman, Ph.D., Advisor to the Board of Directors. Dr. Eisman founded H2 Pump LLC in
2005 and serves as its Chief Technology Officer. Dr. Eisman has over 30 years of experience in
industrial technology development in fuel cells and advanced materials. He is recognized as an expert
worldwide in the area of electrochemical energy conversion. Dr. Eisman started his industrial career at
The Dow Chemical Co. (Midland, MI) where he spent 16 years in fuel cell and industrial ceramics
development programs. In 1998 he joined Plug Power, Inc. as their Chief Technology Officer, a
stationary fuel cell development company. He moved to Rensselaer Polytechnic Institute 2004 as
Director of the Hydrogen and Fuel Cell Research Center and Research Professor, when in 2008, he
became Adjunct Professor at RPI in Materials Science & Engineering as he focused his efforts on
H2Pump. He was then appointed a Robert A. Welch Research Fellow at the University of Texas-Austin,
investigating materials used for solar-hydrogen generation. In addition to his position at RPI, he is also
an Adjunct Professor at the Graduate College of Engineering at Union University (Schenectady, NY).
Dr. Eisman received the Inventor of the Year Award, The Dow Chemical Co. (1993). He has also been
a member of a number of technical societies. He has published over 20 technical papers and has been
awarded over 24 U.S. patents. Dr. Eisman also has served on three National Academy of Engineering
committees, acting as sub-committee chair on fuel cells for the review of the Department of Energy’s
Freedom CAR and Fuel Partnership. He also sits on the Curriculum Advisory Board at Union Graduate
School. Dr. Eisman received his Bachelors degree in Chemistry from Temple University in 1975 and a
Ph.D. in Physical Inorganic Chemistry from Northeastern University in 1980.
Vladimir N. Fateev. Phd, Advisor to the Board of Directors, Research Director of Kurchatov
Institute, Works publicized: Mathematical modeling of high-pressure PEM water electrolysis; High
pressure PEM water electrolysis and corresponding safety issues; Optimization of porous current
collectors for PEM water electrolyzers; A comparative evaluation of palladium and platinum
nanoparticles as catalysts in PEM electrochemical cells; Characterization of PEM electrochemical
hydrogen compressors; Hydrogen safety aspects related to high pressure PEM water electrolysis; Pure
9
hydrogen production by PEM electrolysis for hydrogen energy and optimization of electro catalytic
layers for PEM electrolyzers; Palladium-based electro catalysts for PEM applications; Optimization of
transfer processes in fuel cell with proton exchange membrane; Hydrogen production by electrolysis;
Electrolysis of Water in a System with a Solid Polymer Electrolyte at Elevated Pressure; Degradation
mechanisms of MEA characteristics during water electrolysis in solid polymer electrolyte cells;
Corrosion resistant electrodes / current collectors for anodes of electrolysis cells with solid polymer
electrolyte; Electrochemical conversion of aqueous ethanol solution in an electrolyzer with a solid
polymer electrolyte; Degradation mechanisms of MEA characteristics during water electrolysis in solid
polymer electrolyte cells; Corrosion resistant electrodes / current collectors for anodes of electrolysis
cells with solid polymer electrolyte; New physical technologies for catalyst synthesis and anticorrosion
protection; Application of the magnetron sputtering for nano structured electro catalysts synthesis; The
possibility of electrolyzer with a solid polymer electrolyte start at low temperatures; Electro catalytic
layers based on reduced graphene oxide for fabrication of low-temperature fuel cells; Plasma
Technologies for water Electrolyzers; Combined heat and power (cogeneration) plant based on
renewable energy sources and electrochemical hydrogen systems; Low-temperature water electrolyzers
for off-grid power plants with hydrogen energy storage; Electrochemical performances of PEM water
electrolysis cells and perspectives; Hydrogen safety aspects related to high-pressure polymer electrolyte
membrane water electrolysis.
Involvement in Certain Legal Proceedings
None of the officers, directors, or control persons of “HEC” have been involved in the past five (5)
years in any of the following:
(1) Conviction in a criminal proceeding or named as a defendant in a pending criminal
proceeding (excluding traffic violations and minor offenses);
(2) The entry of an order, judgment, or decree, not subsequently reversed, suspended or vacated,
by a court of competent jurisdiction that permanently or temporarily enjoined, barred,
suspended or otherwise limited such person’s involvement in any type of business, securities,
commodities or bank activities;
(3) A finding or judgment by a court of competent jurisdiction (in a civil action), the Securities
and Exchange Commission, the Commodity Futures Trading Commission, or a state securities
regulator of a violation of federal or state securities or commodities law, which finding or
judgment has not been reversed, suspended, or vacated; or
(4) The entry of an order by a self-regulatory organization that permanently or temporarily
barred suspended or otherwise limited such person’s involvement in any type of business
or securities activities.
The Company utilizes outsourcing services for the accounting and auditing of its financials.
Investor Relations
Kim Tilson
203 Old Wilson Hill Road
Greeneville, TN 37745
Phone: (423) 278-2952
E-mail: hec.tinakt@gmail.com
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ITEM 11. ISSUER CERTIFICATION
I, Michael W. Hedges Jr., certify that:
1. I have reviewed this Investor Disclosure Statement of Hydrogen Engine Center, Inc., a Nevada
corporation;
2. Based on my knowledge, this disclosure statement does not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this
disclosure statement; and
3. Based on my knowledge, the statements, and other information included or incorporated by reference
in this disclosure statement, fairly present in all material respects the financial condition, results of
operations and cash flows of the issuer as of, and for, the periods presented in this disclosure statement.
Dated: October 4, 2019
______________________
Michael W. Hedges Jr.
CEO and CFO
https://documentcloud.adobe.com/link/track?uri=urn%3Aaaid%3Ascds%3AUS%3Af25224ca-b3a6-42cd-85e6-29b3b81c0849
Investor Disclosure Update for HYEG
I have been holding HEC for several years and have seen a 89% drop in the value of my holding.
When is the company likely to make a meaningful return on investment for its shareholders
It seen all technology and no sales. The company has been going long enough to make a turn if it is ever going to
$HYEG recent news/filings
bullish
## source: finance.yahoo.com
Tue, 03 Feb 2015 18:38:00 GMT ~ HEC Finalizes Agreement with TINA Energy Systems
[Business Wire] - Ted Hollinger, President and CEO of “Hydrogen Engine Center”[HEC], has announced that an agreement between HEC and TINA Energy Systems, S.L., a Spanish Sociedad Limitada, was finalized on January 27, 2015.
read full: http://finance.yahoo.com/news/hec-finalizes-agreement-tina-energy-183800179.html
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Thu, 06 Nov 2014 21:42:00 GMT ~ Hydrogen Engine Center Acquires TINA Energy Systems
[Business Wire] - Hydrogen Engine Center, Inc. , announced today that they have entered into an agreement of terms for the acquisition of assets of TINA Technologies http://tina-systems.com/en/, with the goal of producing the world’s first fully integrated “renewable hydrogen-energy system” designed for 24/7 global electrical production.
read full: http://finance.yahoo.com/news/hydrogen-engine-center-acquires-tina-214200755.html
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$HYEG charts
basic chart ## source: stockcharts.com
basic chart ## source: stockscores.com
big daily chart ## source: stockcharts.com
big weekly chart ## source: stockcharts.com
$HYEG company information
## source: otcmarkets.com
Link: http://www.otcmarkets.com/stock/HYEG/company-info
Ticker: $HYEG
OTC Market Place: OTC Pink No Information
CIK code: 0001272703
Company name: Hydrogen Engine Center, Inc.
Company website: http://www.hydrogenenginecenter.com
Incorporated In: NV, USA
Business Description: Hydrogen Engine Center, Inc., a Nevada corporation (the \"company,\" \"HYEG,\" \"us,\" \"we,\" or \"our\") was organized for the purpose of developing and commercializing clean solutions for today's energy needs. We offer technologies that provide alternative-fuel energy solutions for the industrial and power generation markets. Our systems use spark-ignited internal combustion engines (ICE) powered by alternative fuels such as hydrogen, ethanol, methanol, or ammonia. We use our proprietary engine controller and software to efficiently distribute ignition spark and fuel to injectors. Our business plan is centered on technologies that we expect to play an increasing role in addressing the world's energy needs as well as its environmental concerns. We expect future revenue generation from the sale of hydrogen engines and gensets for dedicated uses, such as airport ground support and wind power generation.Our primary objective is to provide the most reliable, most efficient and lowest emission energy storage and power generation solutions, utilizing renewable fuels, to the global industrial market and to become the undisputed leader in the development and deployment of turn-key low carbon and carbonless fueled energy solutions.We are currently focusing on the following market segments:- Distributed power generation via renewable power support- Power generation using clean-burning by-product gases such as hydrogen- Industrial applications for our engine controls and fuel distribution systemsSince inception, we have invested in the resources and technology we believe necessary to deliver carbon free energy technology. As such, we have incurred substantial operating losses and we expect to incur additional losses in 2009. We continue to take steps to lower our monthly cash expenditures.During 2008, we sold all of our \"remanufactured\" 4.9L engine inventory and most of our \"new\" 4.9L engine inventory to fund our operations. We believe that we overestimated the market size for these engines which resulted in increased costs per engine unit. In an effort to achieve profitability we plan to eliminate our traditional-fueled products and concentrate on selling products with increased profit margins, such as the hydrogen products we offer.Principal Products and MarketsOur goal is to develop cost effective, market driven products and technologies that will provide clean-energy solutions to the world's energy needs. We manufacture and market products under the brand name Oxx Power. Oxx Power. engines and gensets are assembled and tested at our Algona, Iowa facility. Our Oxx Boxx(c) engine controller, which is critical to our ability to offer clean energy solutions, was developed through HEC Canada in collaboration with the University of Quebec. We expect the airport ground support industry and \"wind to hydrogen projects\" to offer a near-term opportunity for revenue generation.Current Product Offerings and Commercial Applications of our ProductsOur current product line includes:- Zero-Emissions Engines for Industrial Mobile Equipment- 4.9L, 6 Cylinder Oxx Power. Hydrogen Engines- Add-On Systems for the Wind Power Industry- Hydrogen-fueled 50kW Oxx Power. Generator Systems- Hydrogen-fueled 250kW 4 + 1? Generator SystemsLess >>
$HYEG share structure
## source: otcmarkets.com
Market Value: $4,683,310 a/o Jun 24, 2015
Shares Outstanding: 30,214,902 a/o May 20, 2009
Float: 12,632,325 a/o May 20, 2009
Authorized Shares: 100,000,000 a/o May 20, 2009
Par Value: 0.001
$HYEG extra dd links
Company name: Hydrogen Engine Center, Inc.
Company website: http://www.hydrogenenginecenter.com
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=HYEG+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=HYEG+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=HYEG+Industry
## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/HYEG/news - http://finance.yahoo.com/q/h?s=HYEG+Headlines
## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/HYEG/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/HYEG/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=HYEG+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/HYEG
DTCC (dtcc.com): http://search2.dtcc.com/?q=Hydrogen+Engine+Center%2C+Inc.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=Hydrogen+Engine+Center%2C+Inc.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=Hydrogen+Engine+Center%2C+Inc.&x=0&y=0
WHOIS (domaintools.com): http://whois.domaintools.com/http://www.hydrogenenginecenter.com
Alexa (alexa.com): http://www.alexa.com/siteinfo/http://www.hydrogenenginecenter.com#
Corporate website internet archive (archive.org): http://web.archive.org/web/*/http://www.hydrogenenginecenter.com
## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/HYEG
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001272703&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/HYEG/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/HYEG/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=HYEG&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=HYEG
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/HYEG/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=HYEG+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=HYEG+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=HYEG
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=HYEG
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=HYEG+Cash+Flow&annual
## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/HYEG/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=HYEG+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/HYEG.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=HYEG
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/HYEG/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/HYEG/insider-transactions
## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/HYEG
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/HYEG
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/HYEG:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=HYEG
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=HYEG
$HYEG DD Notes ~ http://www.ddnotesmaker.com/HYEG
This article was released today:
http://www.cleangreenengines.com/general/it-is-more-than-a-tractor-solar-panels/
One of the best websites around...
When they stopped filing, I stopped watching...
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001272703&owner=include&count=40
Pro Life,
Are you still monitoring HEC?
Just curious.
HEC OUTPERFORMS THE COMPETITION! THIS IS HOW WE DO IT:
http://www.hydrogenenginecenter.com/userdocs/HEC_OUTPERFORMS_THE_COMPETITION%5B1%5D.pdf
Even for the week that was...
Scoreboard for the week: -18.75%
Range bound but at a higher level after that big jump a few months back...
This needs follow through news...
The breakaway gap on the chart is holding together...
Private Energy Systems, Inc. to Purchase Controlling Interest in Hydrogen Engine Center, Inc.
Date : 06/06/2011 @ 8:00AM
Source : Business Wire
Stock : Hydrogen Engine Center, Inc. (HYEG)
http://ih.advfn.com/p.php?pid=nmona&article=47956389&symbol=HYEG
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 articulated.
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.
Looks like HYEG is being acquired by a private company.
Amen to that brother! HYEG!
The action here in the last 2 weeks has been sweeeeeeeeeeeeeeeeeeeeeet!!!
R3 Sciences to Purchase Methanol and Natural Gas Systems from HEC
Press Release Source: Hydrogen Engine Center, Inc. On Thursday June 2, 2011, 9:20 am
ALGONA, Iowa--(BUSINESS WIRE)-- Hydrogen Engine Center, Inc. (Pink Sheets:HYEG.pk - News) announced today it’s working on definitive agreements for a marketing alliance between HEC and R3 Sciences, L.P. of Austin, Texas (“R3”). This Memorandum of Understanding is to pursue immediate customer opportunities. R3 has been developing a system that converts associated or stranded methane to methanol. Each of R3’s Gas to Methanol Synthesis Units will require one 250kW HEC engine generator and will produce enough methanol for another 750kW.
The proposed terms and conditions for the Alliance are as follows:
R3 will have the exclusive right to market and sell HEC’s methanol-burning engine technology globally for 3 years, followed by automatic renewals, provided certain reasonable agreed-upon conditions are met.
R3 will invest appropriate engineering time to determine the best method to integrate the Technology with R3’s gas-to-liquids reaction technology. HEC will manage ongoing development of the Technology, and R3 will automatically be offered any such improvements developed by HEC during the term of the Agreement under the terms of the Alliance. R3 will have the right to buy, on a most favored nations pricing basis, engines and other technology from HEC for gaseous fuel engines, including without limitation ammonia, hydrogen, and natural gas. R3 will on a “Best Efforts” basis install one HEC 250kW unit per month the first year following the installation of the first unit.
Trillions of cubic feet of valuable natural gas are flared around the world due to a lack of small, portable conversion technology. Many oil-producing regions produce what is generally referred to as "associated" natural gas. This associated natural gas is natural gas co-produced from what is primarily an oil production zone. When a surplus volume of low pressure gas is produced from oil fields it can be located quite a distance from a gas pipeline, or from a gas gathering system, leaving oil and gas operators with very few options other than to simply flare the surplus natural gas on location.
R3 expects to install thousands of these small portable gas-to-methanol units over the next few years, each requiring electrical power, enhancing a new market for HEC Oxx Power units.
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 515-295-3178 for more information.
About R3 Sciences
R3 Sciences, L.P., is commercializing patented micro-plant gas-to-liquids technology. R3 uses a low-temperature, low-pressure, liquid catalyst process to convert methane from natural gas, biomass, and other feedstock to methanol, DME, and other liquid fuels. Privately held, R3 is headquartered in Austin, Texas, with technical and operations center in Lafayette, Louisiana.
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http://www.hydrogenenginecenter.com/
Clean Power NOW
There is no need to wait for clean power. In 2004, HEC introduced the first production hydrogen-fueled, spark-ignited, internal combustion engine for industrial uses. We are making hydrogen-fueled power generation systems and engines available years before automotive companies will offer their hydrogen engines for industrial applications.
Clean AFFORDABLE Power
Hydrogen-fueled power generation systems can produce electrical power for your business and prevent the high operating costs of using fuel cells as well as the dirty emissions of diesel-fueled generators. If the cost of fuel cells sinks your budget, and the smell of diesel stinks up your air, then you will love our hydrogen-fueled electrical power generation systems.
Industry Overview
Currently the distributed power industry is dominated by diesel-fueled generators. We offer a clean solution that will fit into the environmental requirements of countries who have signed the Kyoto Protocol. Additionally, states like California are independently regulating emissions and cities like New York have experienced the unpleasant environmental impact of polluting diesel-fueled generators that supply backup power during a brownout.
Our path to an emissions-free system includes alternative-fueled and hydrogen-fueled engines, which are exceptionally well-suited for many markets, including the ground support equipment industry. Many airports utilize enclosed passageways for baggage tractors and belt loaders. Currently those routes are reserved for electric vehicles or vehicles operated by fuel cells. Oxx Power™ hydrogen-fueled internal combustion engines combine two major needs: power and near-zero emissions.
HEC’s Oxx Power engines are configured to have the same form, fit and function as industrial engines currently in common use. These engines serve as replacement engines for the industrial user who has been dependent upon a manufacturer of traditional gasoline-fueled industrial engines. The initial Oxx Power engines are standard gasoline powered internal combustion engines. However, HEC’s engines can be easily converted to hydrogen or other alternative fuels in the future. The end user is in a position to adjust the fuel utilized, whether for cost or availability of fuel or a legislative environment that forces compliance with emissions.
Why Hydrogen
Hydrogen has the potential to eliminate carbon based emissions completely. Water is the only emission from a hydrogen-fueled engine. The environmental imperative of reducing greenhouse gases and pollution is now recognized by most developed nations throughout the world. Ultimately, greenhouse gases are believed by many to be heading the planet into an untenable, if not catastrophic, situation of extreme weather events, heating the Arctic and Antarctic regions of the globe, therefore raising ocean levels. The centerpiece in this worldwide recognition is embodied in the Kyoto Protocol, intended to cut carbon dioxide and other greenhouse gases. The treaty was negotiated in December 1997 and came into force in February 2005 following ratification by Russia. As of 15 January 2008, 177 countries and 1 regional economic integration organization (the EEC) have deposited instruments of ratification, accession, approval or acceptance. The United States has not ratified the treaty.
Generators
HEC leads the way in the use of hydrogen-fueled internal combustion engines in power generation markets. All power generation equipment manufactured by HEC is engineered to order based on customer specifications.
Preliminary data sheets are available for the 60kW and 250kW generator sets. For information regarding generator capabilities and sales, please contact us via telephone... 1-515-295-3178 or e-mail at sales@hydrogenenginecenter.com.
Click here for Generator System Quote Request
News
The Hydrogen Engine Center, Inc. offers a quarterly newsletter to shareholders, customers and all interested parties containing news, events and other important information free of charge. Published on a quarterly basis, newsletters are sent by email as a PDF document. If you would like to receive upcoming corporate newsletters and press releases via e-mail, please CLICK here to join the mailing list. All email addresses are protected and will not be shared without permission.
Distributor Listing | | |
United States Distributor Map | Canadian Distributor Map |
Management Team
Hydrogen Engine Center, Inc. takes pride in its employees. Below are the members of the management team. Feel free to take a few minutes to get to know those behind the Oxx Power® brand.
Mr. Schiltz joined the Company in October of 2005. Prior to joining HEC, he was a senior partner with The Merrill Company/Arnold Motor Supply. The Arnold Group of Companies currently has seven divisions covering five states and serves over 80 company-owned and independently-owned auto parts stores. Mr. Schiltz held the position of division manager for engine components in 2004 and 2005. In 2002, he formed the cylinder head division and served as its division manager where he developed a remanufactured aluminum cylinder head exchange program.
Mr. Schiltz began his experience at The Merrill Company / Arnold Motor Supply as a machinist in 1983 where he became a self-trained certified master machinist within two years. He developed aluminum welding processes that continue to be used in the industry. In addition to his experience with the Arnold Group of Companies, Mr. Schiltz co-founded Innovative Lighting, Inc. in 1993. Innovative Lighting, Inc. is a leading edge LED lighting company which specializes in the development and distribution of dependable energy efficient lighting products.
Ms. Batt joined the Company on December 5, 2005 as its Chief Financial Officer. Prior to that time, she served as Chief Financial Officer for Golden Grain Energy in Mason City, Iowa from September 2004 to December 2005. She graduated from Briar Cliff University with a B.A. in Accounting. From 1998 to 2003, Ms. Batt was employed as finance director at Sbemco International, Inc. Prior to joining the private sector Ms. Batt spent 15 years in public accounting. She is a member of the American Institute of Certified Public Accountants, the Iowa Society of Certified Public Accountants and the Society for Human Resource Management.
Contact Us | Filings - HYDROGEN ENGINE CENTER, INC. (0001272703) | |
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On Wednesday April 29, 2009, 3:36 pm EDT
ALGONA, Iowa--(BUSINESS WIRE)--Hydrogen Engine Center, Inc. (HEC) (OTCBB: HYEG.OB - News) announced today that it will be involved in an $11 million (CAD) hydrogen energy technology demonstration project at Montreal’s Pierre Elliot Trudeau International Airport. The airport project is focused on testing and demonstrating hydrogen technologies and fueling infrastructures. Numerous hydrogen usages will be tested within the project, including but not limited to, passenger transportation, cargo handling, various power sources as well as hydrogen “filling” technologies. A main goal of the project is to demonstrate how hydrogen can be integrated into existing environments safely and effectively.
Ted Hollinger, HEC’s founder and Jan Rowinski, HEC Canada’s Board Chairman were in Montreal for the announcement of this project and are pleased that HEC Canada will be responsible for providing and installing up to ten (10) hydrogen-fueled 4.9L internal combustion engines for installation in existing airport luggage tractors. This is a multi-million dollar agreement for which HEC will provide goods and services valued at $1,151,898 CAD. Participation in the project involves an in-kind contribution from HEC in the amount of $575,949 CAD. Ted Hollinger elaborated on the importance of HEC’s involvement in the project. “This project has been a long time coming. We are thrilled to be a part of the solution to convert existing airports into a cleaner, greener environment. Our participation in this Hydrogen Demonstration Project will allow the entire world traveling through this airport to witness a sampling of the carbon-free power solutions HEC designs and manufactures.”
The Government of Canada and the Government of Quebec are major partners in the project along with Air Liquide who is participating in the project and acting as the Projects Manager. HEC plans to work directly with Air Liquide on all aspects of the hydrogen-fueled internal combustion engines.
Jan Rowinski stated that, “By working with elite companies such as Air Liquide, we are able to position ourselves as a prime mover. This shows the world we’re ready, willing and able to immediately deliver hydrogen-fueled engines and power solutions on a global scale.”
About Hydrogen Engine Center, Inc.
Hydrogen Engine Center, Inc. (HEC) develops systems and processes used in the design, manufacture and distribution of alternative fuel internal combustion engines, engine controls and power generator systems. These technologies are for use by customers and partners in the industrial and power generation markets. These solutions and the engines using them are designed to run on hydrogen, ethanol, methanol, ammonia and traditional fuels. Engines and engine products are sold under the brand name Oxx Power®. HEC trades on the Bulletin Board under the symbol "HYEG.OB." Principal offices are located at 2502 E Poplar St., Algona, Iowa 50511. Visit or in the US dial 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 or unforeseen levels of competition for the Company, new products and technological changes, the Company’s ability to hire and retain qualified employees, the Company's dependence on third-party suppliers, the availability of capital and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.
Contact:
Hydrogen Engine Center, Inc.
Nicole Fritz-Kemna, 515-295-3178
Communications Director
nkemna@hydrogenenginecenter.com
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