Charge! Energy Storage to Develop Unique Power Configuration Specific for Cannabis Growth
Lake Elsinore, CA - (Marketwire – March 06, 2014) - IDS Industries, Inc. (IDST:OTCQB) announced today that its division, Charge! Energy Storage, (Charge!) has launched a pilot test of its technology for energy storage and power backup for the cultivation of marijuana. The pilot test begins with 4 “grow rooms” and the Company looks forward to analyzing the test data and working with this new strategic partner. Charge! has contracted with a San Diego-based engineer to develop a unique system configuration specific for cannabis growth. The Company’s product line has prompted many inquiries by indoor agricultural, horticultural and cannabis producing businesses seeking off-grid power storage and backup and greater efficiency in the use of their electrical power.
Scott Plantinga, President and CEO of IDS Industries said “We have received a large interest in our energy storage and backup systems from this business sector. Specifically, we have many inquiries requesting our energy storage products to provide a uniquely appropriate configuration for marijuana cultivation. We have seized the moment to work with this new industry partner to conduct this pilot test.” Mr. Plantinga continued, “Cannabis and indoor growers are dependent on a reliable continuous source of energy and our products can provide that continuity while reducing their dependency on the grid. Think of the importance to growers having back-up systems that guarantee a support system to achieve an 18-hour grow cycle without the noise or fumes of a generator all night while reducing the footprint on the utility grid. This test will demonstrate our system’s abilities and allow refinement of our system to the complexities in cannabis cultivation.”
In the last quarter of the past fiscal year the Company successfully completed its first field test in a commercial application. This second field test expands Charges! product development and begins the Company’s targeting of niche marketplaces requiring energy solutions. The medical cannabis industry is estimated to be over $2B annually in the United States. Many experts believe these estimates are undervalued due to the illicit nature of the industry and that marijuana remains today a Class 1 drug.
The Company’s Board of Directors recently authorized Charge! Energy Storage to be established as a wholly-owned subsidiary dedicated to the continued development of its unique suite of energy storage systems, its proprietary integrated battery management and charge controller system (BMCCS) and its power backup equipment. As a separate business unit with its own management team, Charge! will review the many opportunities that have been presented and be poised to exploit those it selects. The Company believes this market sector represents a significant situation for growth and revenue expansion and stated it will continue to seek market opportunities that will drive long term revenue and build value for its shareholders.
About IDS Industries, Inc.
IDS Industries, Inc. is a company in the fields of Advanced Energy Storage and Portable Power Generation Systems and Direct-to-Consumer Marketing.
The Company’s GIIRS-rated energy storage products deliver clean stationary and portable electrical energy, targeting a diverse range of residential, commercial, and off-grid markets. The Company’s proprietary integrated Battery Management and Charge Controller System (BMCCS) optimizes advanced lithium chemistry functions improving battery performance and extending battery life. Its Direct-to-Consumer business delivers comprehensive call center and online marketing solutions to brands seeking maximum reach and return on investment (ROI).
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Investor Inquiries:
IR@IDSIndustries.com
(714) 733-1412
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