Principal Solar Inc (PSWW)

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$PSWW $TPII Principal Solar and Triad Pro Innovators to Collaborate on Electric Vehicle Energy Storage Solutions

https://www.globenewswire.com/news-release/2022/05/09/2438541/0/en/Principal-Solar-and-Triad-Pro-Innovators-to-Collaborate-on-Electric-Vehicle-Energy-Storage-Solutions.html

Dallas, Texas, May 09, 2022 (GLOBE NEWSWIRE) -- Principal Solar, Inc. (OTC Pink: PSWW) (“Principal” or “the Company”), a strategic investor in organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an investor in undervalued petroleum-producing properties, today announced that it has executed a definitive research and development agreement (“the Agreement”) with Triad Pro Innovators, Inc. (OTC Pink: TPII) (“Triad Pro” or “Triad”). The Agreement establishes a relationship for cooperative research and development between Principal and Triad Pro for the purpose of creating new power storage solutions for the Electric Vehicle (EV) industry.

“We believe Triad’s eCell technology offers tremendous potential as a power storage solution for heavy electric vehicles,” said K. Bryce “Rick” Toussaint, CPA, MBA, Principal’s Chairman and CEO. “Principal’s agreement with Triad is another example of our commitment to identifying and investing in near-term, real-world electric vehicle solutions that meet today’s growing market demand.”

Potential applications for solutions created under the agreement include use in Principal’s client and portfolio company products, specifically its fleet-focused heavy electric vehicle conversions and hybrid-electric powertrains, which require unique capabilities supporting continuous operation with long charging cycles – capabilities underserved by existing battery technologies.

“Our relationship with Principal Solar is a real win-win for all parties,” said Murray Goldenberg, Chief Executive Officer of Triad Pro. “By gaining access to our eCell technology, Principal stands to position its portfolio companies as leaders in their respective fields thanks to the numerous benefits our solid-state eCell offers over traditional chemical-based batteries. For us, we stand to gain exposure to new opportunities and clients as we work with Principal to deliver our next-generation EV energy storage solution.”

The major advantage of Triad Pro’s eCell lies in its solid-state technology, which allows electric vehicles to accept a charge at any rate (limited only by network supply), thereby enabling ultra-rapid charge cycles that increase productivity by keeping heavy electric vehicles on the road. Another key eCell advantage is the absence of typical battery chemical solutions that degrade with repeated charge-discharge cycles, giving the Triad Pro eCell a lifespan of over 30,000 cycles, thereby greatly reducing ongoing maintenance costs for heavy EV owners.