Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Go Bucs!! EOM :)
Power Technology, Inc. Creates Advanced Battery Development Company With B.C. Research and NORAM Engineering
Monday December 2, 1:00 am ET
VANCOUVER, B.C.--(BUSINESS WIRE)--Dec. 1, 2002--Power Technology, Inc. (OTCBB:PWTC - News) in conjunction with BC Research is pleased to announce the formation of "NXCELL Batteries, Inc.", an advanced battery technology company. Power Technology, Inc. maintains 65% ownership of the newly formed, privately-held business with the remaining 35% held by BC Research, a subsidiary of NORAM Engineering & Constructors Ltd., which will pay an additional fee of $120,000 USD per year to Power Technology over the next three years.
NXCELL BATTERIES INC. is expected to attract government funding, tax credits and private venture capital with immediate revenue opportunities via military, marine and other special power applications where the technology will be proven on a batch production basis.
The goals of the new company will be:
To create a world class company and development team with access to international companies using and distributing batteries, and focused in the near term on opportunities for hybrid electric and mini-hybrid (42 volt) electric hybrid vehicle applications.
To develop and commercialize the advanced performance battery technology concepts currently under development by Power Technology Inc. in conjunction with BC Research.
To finance the company from private placements, strategic partners and government incentive programs.
To add other contingent advanced battery and energy storage system technologies presently at the conceptual stage at BC Research.
As a Power Technology licensee in North and South America, NXCELL BATTERIES INC. will have a strong commercialization strategy with a clear focus on emerging markets in which the company could dominate including hybrid and automotive applications of the future.
Independent evaluation performed by Catella Labs of Sweden and development work done by BC Research confirm the superior performance -- approximately 85% increase in power/energy over present lead-acid technology -- of Power Technology's battery. A battery that charges faster, is inexpensive and also significantly lighter (using about 20% of the lead of a regular lead-acid battery) could help make possible a strong selling all-electric commuter vehicle.
Wolf Meyerfeld, President of Power Technology Inc. said, "the fortification of our management and technical teams via the introduction of BC Research and the creation of NXCELL BATTERIES INC., combined with the validation of various testing agencies and collective industry contacts, will allow Power Technology to rapidly advance commercialization of our products."
About Power Technology. Inc.
Power Technology Inc. is engaged in the development of advanced battery technology. Power Technology, Inc. holds several patents in the power generation and storage fields; and is working to provide innovative and practical technology solutions for commercial, governmental, and industrial applications worldwide. www.powerpwtc.com.
About BC Research Inc.
BC Research Inc. is an integrated science and technology company with a focus on chemical and biological technology development. a full-service facilities and resource infrastructure combined with the knowledge, talents, and skills of a world-class team of scientists, technicians and seasoned business professionals enables BC Research to provide all the logistic support its clients and partner companies require. Headquartered in Vancouver, British Columbia, Canada, BC Research has operations in Alberta, Ontario and Washington State. Please visit the corporate website at www.bcresearch.com.
About NORAM
NORAM is a private Vancouver-based company established in 1988 and has a staff of approximately 100 engineers, designers, and project management personnel specializing in the development, commercialization, and supply of leading-edge chemical processes and environmental technologies such as wastewater treatment, sulfuric acid, acid recovery and concentration, nitration, electrochemical and bleaching chemical technologies. For more information please visit the corporate website at www.noram-eng.com
For more information, please contact Peter Holeczek at 604-801-6689, Robert A. Young and Associates at 1-877-626-2121, Michael King 702-650-3000 or Ronald L. Garner at Equitilink, LLC. 1-877-788-1940.
Certain statements in this news release may constitute "forward-looking statements" within the meaning of Section 21E of the Securities Act of 1934. Such forward-looking statements may involve risks, uncertainties and other factors that may cause the actual results, performance, or achievements to differ from those expressed or implied by such forward-looking statements.
--------------------------------------------------------------------------------
Contact:
Hotdog I hope your hunch is right on. If it is Nigel P. Fitzpatrick NXCELL will have one HEII of a CEO! With one HEII of a background. If it is Nigel Fitzpatrick then even I don't have enough shares yet. Nice digging! Hope its true!
logman
A father took his son out hunting for the first time. The father was so proud that his son passed hunters safety top in his class.
They started the hunt early in the morning the father wanted his son to have a successful hunt so he took him to a spot he had hunted for years.
He told his son you get down here and don't move or make a sound I will walk up the hill and spook some deer to you and you can shoot
one. As the father walked off he told his son not a sound now. Some time later the father heard a blood curdling scream and ran over to
where his son was and asked why did you scream. The son said I did just like you said dad. I didn't make any noise when the skunk walked
by and sniffed me, I was ok when the black bear walked by. BUT then two squires came along and went up my pants leg! I heard one ask
the other (should we eat them here or bring them with us)
A father took his son out hunting for the first time. The father was so proud that his son passed hunters safety top in his class.
They started the hunt early in the morning the father wanted his son to have a successful hunt so he took him to a spot he had hunted for years. He told his son you get down here and don't move or make a sound I will walk up the hill and spook some deer to you and you can shoot one. As the father walked off he told his son not a sound now. Some time later the father heard a blood curdling scream and ran over to where his son was and asked why did you scream. The son said I did just like you said dad. I didn't make any noise when the skunk walked by and sniffed me, I was ok when the black bear walked by. BUT then two squires came along and went up my pants leg! I heard one ask the other (should we eat them here or bring them with us)
Yes it did seem the BERG had a ton of shares to sell @.08.
Glad you broke his back and made him blink. Slow plus movement is cool with me. Thanks, logman
Welcome back Hotdog. :)
MM's are moving away from the ask. They don't know if they want to sell them at these prices now!
Looking good! logman
Are ready for some FOOTBALL! I will be Sunday. Go Tampa!
I think we have seen bottom and now its time to go up. lets hope for nice climb.
logman
I picked up 10,000 more @.07 today.:)
dfh you have mail. EOM
Thanks graeme. I also got the email. Good posting.
I was busy today when the price dropped or I think I would have picked up a few thousand more. Anyway thanks. logman
mlf, If you lost hashers email address send me a email and I will give it to you.
logman_98@yahoo.com
logman
I have and so has therooster. I am aware of AS's opinion.
I have talked to him several times. I know what he is saying.
there are 2 sides to every story. My post was to remind you of that.
Regards, logman
This deal was put together by LB. He is the one they will talk to.
For Power Technologies Inc.
/s/ Lee Balak
--------------------------------
Authorized Signatory
LEE BALAK, DIRECTOR
I do think that is what you were told by AS I am just telling you what is happing from what I hear. 2 sides to the story.
Thats all.
As far as what I am hearing from hasher (big 0) Same everyone else that gets a email. If you want him to email you ask him.
This is not rumor MLF
Look who signed the deal!
POWER TECHNOLOGY INC/CN
Form: 10QSB Filing Date: 12/20/2002
INDEX TO EXHIBITS
Table:
Caption:
EXHIBIT
NUMBER DESCRIPTION
------- -----------
10.1 Agreement in Principle between PowerXcell Batteries Inc. and Power
Technology, Inc. dated October 30, 2002.
99.1 Certification of Wolf Meyerfeld
99.2 Certification of Lee A. Balak
99.3 Certification of Wolf Meyerfeld and Lee A. Balak
TYPE: EX-10.1 OTHERDOC
SEQUENCE: 3
FILENAME: d02024exv10w1.txt
DESCRIPTION: AGREEMENT IN PRINCIPLE WITH POWERXCELL BATTERIES
OTHERDOC AVAILABLE Series=d02024exv10w1.txt Ver="": Document is copied.
EXHIBIT 10.1
AGREEMENT IN PRINCIPLE TO FORM POWERXCELL BATTERIES INC., AN ADVANCED BATTERY
TECHNOLOGY COMPANY
GOALS
1.1 To create a world class battery company (PowerXcell Batteries Inc.) and
development team with access to international companies using and
distributing batteries, and focused in the near term on opportunities
for hybrid electric and mini-hybrid (42 volt) electric vehicle
applications.
1.2 To develop and commercialize the advanced performance battery
technology concepts currently under development by Power Technology
Inc. (PWTC) in conjunction with BC Research (BCR) as soon as possible.
1.3 To finance the company from private placements, strategic partners and
government incentive programs.
1.4 To add other contingent advanced battery and energy storage system
technologies presently at the conceptual development stage at BCR.
PREREQUISITES
2.1 To attract and optimise Canadian government funding and tax credits
etc. PowerXcell will be a Canadian private corporation allowing for
possible eligibility as a CCPC after financing.
2.2 To attract private venture capital as soon as possible, PWTC's
technology will be licenced to PowerXcell with as few restrictions as
possible, and PowerXcell will have the following characteristics:
(a) an IP position based on proven concepts which will be
satisfied through a licence for PWTC's technology;
(b) a strong commercialisation strategy and a clear focus on an
emerging market which PowerXcell could dominate in and this
will be for hybrid and automotive applications of the future;
(c) immediate revenue opportunities which will be through
military, marine and other special power applications where
the technology will be proven on a batch production basis; and
(d) a strong management and technical team with a solid network in
the industry and market sectors which will be contributed
initially mainly by BCR and PWTC either directly or through
contract arrangements;
SCOPE OF AGREEMENT
3.1 The existing PWTC advanced lightweight lead acid battery technology
will be exclusively and unconditionally licensed to PowerXcell except
as limited by prior obligations entered into by PWTC or as further
restricted in Section 5.
3.2 BCR will licence certain battery technologies presently at the concept
stage to PowerXcell under the same restrictions.
3.3 PowerXcell will be held initially 35% by BCR and 65% by Power
Technology Canada Inc. (PTC) to satisfy the eligibility requirements of
Canadian federal technology programs.
3.4 BCR and PTC will ensure that PowerXcell establishes a competent
management team and Board of Directors capable of commercializing the
technology successfully. PTC and BCR will initially each nominate a
Board member for a 5 member board that is structured towards TSX
compliance, and until such time as the Board decides otherwise, the
President of PowerXcell shall be a Board member.
3.5 BCR and PTC will develop a viable business plan and marketing strategy
PowerXcell which will address all available markets including, the
selection of an initial focus on accessible niche markets plus a larger
market requiring the advantages of the core technology and other
technologies offered to PowerXcell by its principals.
3.6 BCR will provide under contract technical support required for current
PWTC initiatives and also provide technical resources under contract to
PowerXcell. PowerXcell will have the right to source work outside BCR.
3.7 BCR and PTC will work together with the management of PowerXcell to
ensure that PowerXcell is adequately financed with the goal of securing
government and private financing of at least $5 million within 12
months.
3.8 BCR will provide management and technical resources to assist the
President of PowerXcell in securing financing. The cost of the
President and associated support will be the responsibility of BCR
until such time as PowerXcell has financing in place.
3.9 This Agreement in Principle is subject to the approval of the Board of
Directors of both parties within 30 days and shall define the terms and
conditions of the final agreement between the parties changed only as
agreed, or to the extent that further clarification is required.
FINANCIAL OBLIGATIONS OF PARTIES
4.1 BCR and PTC will each be responsible for their own costs until
completion of an initial financing at which time those personnel key to
PowerXcell operations will be offered employment in PowerXcell and
other personnel will continue to be involved only through BCR and PTC
contracts.
4.2 Any financial obligations between BCR and PWTC must be settled prior to
concluding the final agreement to establish PowerXcell and any
outstanding balance will be converted to a convertible loan to
PowerXcell.
TERMS AND CONDITIONS OF PWTC LICENCE
5.1 The licence will be exclusive and royalty-free restricted only
geographically to North and South America with the right to sub-licence.
5.2 PowerXcell shall have an option to licence for all other geographic areas.
5.3 Should PowerXcell work with PWTC to licence the technology to third parties
not within the scope of existing licences held by PowerXcell, then
PowerXcell shall receive 25% of all royalties, licence fees and other
revenues accruing to PWTC.
5.4 PowerXcell shall pay to PWTC an annual licence fee of $120,000 USD for
three years, payable in equal monthly installments, except that this
licence fee shall only be payable to the extent that the working capital of
PowerXcell exceed $1 million USD. This licence fee shall provide for
PowerXcell to receive marketing efforts and technical direction from key
Directors of PWTC.
5.5 Any improvements to the technology, proprietary information or business
relationships developed or established by PowerXcell (Improvements) shall
be the exclusive property of PowerXcell except in the case of item 5.3
whereby PowerXcell benefits from a third party licence and in such case the
Improvements will be shared jointly. Should any other third party wish to
exploit any advances made by PowerXcell, negotiations must be made with
PowerXcell directly.
5.6 PTC and BCR shall have no claim or rights to PowerXcell's technologies
except via their ownership in PowerXcell.
5.7 Provided that the conditions in Item 4.2 are met, PWTC will receive a
payment equivalent to $6,000 CAD upon signing of the final agreement.
IN WITNESS WHEREOF of the parties have duly executed this Agreement in Principle
the 30'th day of October, 2002:
For Power Technologies Inc.
/s/ Lee Balak
--------------------------------
Authorized Signatory
LEE BALAK, DIRECTOR
FOR B.C. RESEARCH INC.
/s/ James Hill
--------------------------------
Authorized Signatory
JAMES HILL, PRESIDENT
mlf you said. "The BC deal MAY (MAY!) be dead for this reason. They will not do ANYTHING with LB in the picture."????
That is funny?(funny strange) from what I heard LB was in a meeting @BCRI today?? From everything I can dig up he is the only one working. Lots of fingers being pointed around here.
Just remember 3 are being pointed back at you. From what I have
been able to dig up LB put the BC Research deal together and is still working. JMHO!
Wolf where are you????????
logman
peep I agree. Get this thing rolling.
Time for improvements later.
TD you said, (Logman could be a Taiwanese herbal tea distributor with an inferiority complex.)
I have Rot-sa-ruck sellen tea ;)
When you have some time spend it here. I like this site!
http://www.gun-tests.com/
This is a cool site for the big stuff! CANNON, MACHINE GUNS AND AMMUNITION
http://www.quarry.nildram.co.uk/
Here is a GUN AND AMMUNITION GLOSSARY
logman
http://www.quarry.nildram.co.uk/Glossary.html
Hello all. I hope you are having a good 2003 so far.
Whats new?
logman
10/14 :) Good one.
I think that all registered shareholders got one.
I got a post card too. EOM
Yes I agree GB an update would be very nice. EOM
Happy New Year my friends.
I hope all on this board have a wonderful Christmas. I have the chance to spend it with your loved ones.
Merry Christmas.
logman
As always Reg great post. Thanks.
Glad to hear the rest of the Guheert family is doing well.
logman
May I add one more issue I would like to see addressed.
Our web-site. Outdated! I don't have a clue about updating web-sites but I did ask someone that does and it is not expensive or time consuming but I feel it needs attention. That is the first place people go when they want to look into our stock. I have been told it is low on the priority list but I feel it is cheap advertisement and many company updates could be place on the web-site. I own one other stock. NVGN. That is the first place any news is put and always has an updated letter to the shareholders. The expense is so low and rewards so great.
Just my .02
logman
I agree 100% with you therooster! Bring on the paste!
Web site for Azure Dynamics
http://www.azuredynamics.com/
4800 my guess would be the fact that they have been testing the battery longer then anyone else seeing its potential and finally acting on it.
Not to mention this.
BC Research Inc. Announces Completion of Azure Dynamics Merger
April 26, 2001
VANCOUVER, CANADA — BC Research Inc. reports that it holds 5,849,000 common shares of Azure Dynamics Corporation (CDNX: AZD) representing approximately 23.9% of Azure’s issued and outstanding share capital. Azure Dynamics Corporation was formed by the merger of Azure Dynamics Inc. and Wild Horse Resources Ltd. The common shares of Azure Dynamics Corporation are expected to commence trading April 27, 2001.
Prior to the merger, BC Research sold approximately one-third of its shareholdings. BC Research does not presently intend to increase its Azure Dynamics Corp. shareholdings. The shares are held as investment.
BC Research is an integrated science and technology company focused in the biological and chemical sciences. In addition to providing contract science services to commercial and industrial clients throughout the Pacific Northwest, BC Research creates high-tech companies such as Azure Dynamics. BC Research partners in the rapid development of new companies from early-stage technology opportunities and maintains a pipeline of technologies in development. BC Research re-invests returns from successful companies in new opportunities. To learn more about technology and other opportunities at BC Research visit the BC Research website at http://www.bcresearch.com.
BC Research is privately owned by strategic corporate interests. Immune Network Ltd. (CDNX: IMM; OTCBB: IMMKF), a biotech merchant developer, is the majority shareholder of BC Research Inc. NORAM Engineers and Constructors Ltd., a privately owned international chemical engineering and technology company based in Vancouver, is also a significant shareholder in BC Research Inc.
About Azure Dynamics Corporation
Azure Dynamics Inc. was formed to commercialise a proprietary technology developed by BC Research for the intelligent energy management control of hybrid electric vehicles. This will continue to be the business of Azure Dynamics Corporation, the public company resulting from the merger. Azure will also expand their involvement in the complete integration of hybrid electric vehicle systems.
A series hybrid electric vehicle (“HEV”) is an electric vehicle that also has an additional energy source, such as a small internal combustion engine. The system increases the range of the vehicle compared to fully electric vehicles, and also serves to recharge the vehicles’ batteries. Azure’s proprietary adaptive control systems technology includes software, hardware and power electronics which integrates the operations of the HEV with each individual’s driving patterns and other driving conditions. This integration helps to achieve optimal efficiency and vehicle performance while significantly reducing the vehicle emissions and energy consumption.
Azure is located at the BC Research Complex near the University of British Columbia in Vancouver, BC, Canada.
-30-
BC Research Contact:
Andrea Gomory
Internet and Communications
BC Research Inc.
BC Research Complex
3650 Wesbrook Mall, Vancouver, BC Canada V6S 2L2
Tel. (604) 224-4331
Fax. (604) 224-0540
Internet http://www.bcresearch.com
Email info@bcresearch.com
Azure Dynamics Contact:
Allan H. McGirr
Investor Relations
Azure Dynamics Inc.
BC Research Complex
3650 Wesbrook Mall, Vancouver, BC, Canada V6S 2L2
Tel. (604) 734-7563
Fax. (604) 222-6680
Internet http://www.azuredynamics.com
E-mail amcgirr@azuredynamics.com
Latest Info
News Releases
Announcements
Feature Articles
News / Media
Conferences
Seminars / Workshops
hotdog I am confused with your post. When did we give up 1/3 of PWTC?
"Power Technology, Inc. (OTCBB: PWTC) in conjunction with BC Research is pleased to announce the formation of "NXCELL Batteries, Inc.", an advanced battery technology company. Power Technology, Inc. maintains 65% ownership of the newly formed, privately-held business with the remaining 35% held by BC Research,"
It states quite clearly that NXCELL is a newly formed, privately-held business.
NXCELL BATTERIES INC. is expected to attract government funding, tax credits and private venture capital with immediate revenue opportunities via military, marine.
The way I read this is that now NXCELL will be able to get money from Canada being a Canadian company with the help of BCRI.
It also states quite clearly. (As a Power Technology licensee in North and South America, NXCELL BATTERIES INC.)
Like I said I am confused?
We now have 17 MM’s the new one is VIEW.