Harrison Vickers & Waterman Inc (HVCW)

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Harrison Vickers & Waterman Inc Provides Shareholder Update
PR Newswire
WATERBURY, Conn., March 29, 2019
WATERBURY, Conn., March 29, 2019 /PRNewswire/ -- Harrison Vickers & Waterman (OTC PINK: HVCW) ("HVW" or "the Company") embarked in 2018 on a new business line to provide comprehensive one-stop solutions to the grid stability problems and take advantage of large and actively growing market opportunity for energy storage. HVW intends to focus its efforts to engage in the energy power management business and offer solutions to grid operators, utilities, and Commercial and Industrial (C&I) customers with a focus on renewable Distributed Energy Resources (DER) and Battery Energy Storage Systems (BESS) for grid balancing services to the Independent System Operators (ISOs); load shifting for utilities; energy management through storage for C&I customers; and micro grids for energy security.
April HVW is updating its financials to become a fully reporting company. We anticipate filing the updated financials by the end of 2019.
HVW's New Jersey Battery Energy Storage Project 1, LLC, has taken the next step in the PJM interconnection process for the System Impact Study to occur and be completed by August 31, 2019
HVW is in early stage discussions with a couple different entities to purchase all or part of the New Jersey Battery Energy Storage Project 1, LLC.
HVW is continuing its search for other sites to develop in the PJM Interconnection territory, New York, and New England. We are in early discussions with one land owner in the PJM territory.
Other Business Opportunities
HVW is actively seeking strategic partnerships or acquisitions with similar energy management related businesses to expand our potential operations and expand into other markets for Energy Storage and demand energy management projects. There can be no assurances that we will be successful in such efforts to acquire other businesses, or that any such acquisitions or joint ventures would be on terms favorable to our existing shareholders.
About Harrison Vickers & Waterman
Harrison Vickers (HVW) provides comprehensive one-stop solutions that address grid stability problems in the energy market and take advantage of the large and actively growing market opportunity for energy storage and demand management. HVW offers solutions to grid operators, utilities, and Commercial and Industrial (C&I) customers. Our focus is on renewable Distributed Energy Resources (DER) and Battery Energy Storage Systems (BESS) for grid balancing services to the Independent System Operators (ISOs); load shifting for utilities; energy management through storage and standby generator input for C&I customers; and micro grids for energy security. We intend to build, own or partner with third parties on energy related projects, existing grid participants to take advantage of demand management programs and enter joint ventures and operate electric energy facilities to develop a portfolio of income producing projects.
Forward-Looking Statements
In addition to historical statements, this press release contains statements relating to future events and our future results. These statements are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, and Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. There can be no assurance that efforts to develop the Bloomsbury, NJ site for 20 megawatts will be successful. There are numerous financing and regulatory and timing hurdles involved with any project, and HVW does not have its own capital necessary to satisfy the financing needs to complete these projects at this time and will have to obtain financing through third parties, of which there can be no assurance. While any forward-looking statements represent our judgments and future concerning our business, several risks, uncertainties and other important factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to: difficult economic conditions, the possibility of increased or adverse government regulation, the highly competitive landscape to source and locate energy management projects that will be economically viable, the high cost of purchasing battery equipment, and the risk that we may be unable to obtain necessary capital investment and financing to install energy storage systems and otherwise complete projects, and other risks and uncertainties. As a result, these forward-looking statements may turn out to be incorrect. We are under no obligation to (and expressly disclaim any obligation to) update or alter these forward-looking statements whether as a result of new information, future events or otherwise. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Harrison Vickers & Waterman Inc to be materially different from the statements made herein.
Contact Information
Contact:
Harrison Vickers & Waterman
1669 Thamaston Avenue
Waterbury, CT 06704
860-453-2138
Christopher C. Harrison
CEO
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SOURCE Harrison Vickers & Waterman
https://www.otcmarkets.com/stock/HVCW/news/Harrison-Vickers--Waterman-Inc-Provides-Shareholder-Update?id=222903