$1,000,000 Signed Contract >>> Current Report Filing (8-k)
Source: Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 20, 2015
HYDROPHI TECHNOLOGIES GROUP, INC.
(Exact name of registrant as specified in its charter)
Florida
000-55050
27-2880472
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRA Employer
Identification No.)
3404 Oakcliff Road, Suite C6
Doraville, GA
30340
(Address of principal executive offices)
(Zip Code)
Registrant’s telephone number, including area code (404) 974-9910
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01
Other Events
Hydrophi Technologies Group, Inc. (the “Company”) has received a purchase order for HydroPlantTM units to be deployed on buses operated by Rutas Unidas Federación de Transportistas Independientes de México, a transit bus operator based in Mexico City, Mexico (“Rutas”). Rutas has finalized an agreement with the Mexico City government under which Rutas will receive a subsidy of USD$4,500 from the Mexico City government for each HydroPlantTM unit Rutas installs on the transit bus in Mexico City. The purchase order is valued over USD$1,000,000 for 100 HydroPlantTM units to be installed on the transit buses in Mexico City.
On January 20, 2015 and January 22, 2015, the Company issued two press releases regarding the abovementioned events. Copies of the press releases are attached hereto as Exhibit 99.1 and Exhibit 99.2.
Item 9.01
Financial Statements and Exhibits
Exhibit
Number
Description of Document
99.1
Press Release, dated January 20, 2015
99.2
Press Release, dated January 22, 2015
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
HydroPhi Technologies Group, Inc.
Date: January 22, 2015
By:
/s/ Roger M. Slotkin
Roger M. Slotkin
President, Chief Executive Officer and Director
Exhibit 99.1
Investor Relations:
Crescendo Communications, LLC
Tel: (212) 671-1020 x 310
Email: hptg@crescendo-ir.com
HydroPhi Announces Broad Transit Bus Refurbishing Program
with Rutas Unidas and Mexico City
Atlanta, GA – January 20, 2015 – HydroPhi Technologies Group, Inc. (OTCQB: HPTG) (“HydroPhi”), developer of the Hydrogen Hybrid™ approach to fuel efficiency and emissions reductions, today announced that it was notified by Rutas Unidas Federación de Transportistas Independientes de México (“Rutas”), a large transit bus operator based in Mexico City, Mexico, that Rutas has finalized an agreement with the Mexico City government on a broad transit bus refurbishing program utilizing HydroPhi’s HydroPlant® to extend the life of buses in public service for up to 8 years. Under the program, Rutas will receive a $4,500 USD eco subsidy per unit towards the purchase of HydroPlant units.
This latest announcement by Rutas follows extensive testing and pilot programs of the Hydroplant™ units. Over time, Rutas could install the technology on approximately 2,750 of their affiliated vehicles. The HydroPlant technology (HydroPlant™) is designed to reduce vehicle operating costs and improve greenhouse gas emissions by improving fuel efficiency up to 20% while lowering greenhouse emissions up to 70%.
Roger M. Slotkin, CEO of HydroPhi, stated, “This program approval and subsidy by the Mexico City government is an enormous validation of our technology and transformational event for the company. We look forward to now installing our HydroPlant™ units on nearly all the Rutas Unidas vehicles in the upcoming months and years. Moving ahead, we will work closely with both Rutas and our distribution partner Energia Vehicular Limpia to secure purchase orders and begin broad commercial deployment. Customer response has been extremely positive, and with this further validation and subsidy now in place, we look forward to announcing commercial orders commencing in the very near future.”
About Rutas Unidas
RUTAS UNIDAS, established in 1957, is the largest association of public transportation bus owners in Mexico, with more than 8,500 vehicles affiliated. It centers its operations in Mexico City where it handles almost 25 percent of government authorized routes, with a mix of vans, micro and regular full size buses. Since 2007 it has been pursuing 'clean' solutions for its different types of fleets that meet both profitability and environmental targets in the immediate future.
About Energia Vehicular Limpia S.A. de C.V.
Founded in 2007 and based in Mexico City, EVL’s work focuses on finding green solutions for public transportation in Mexico and Latin America’s urban markets. Supported by strong development agreements with leading institutions like Mexico’s National University (UNAM) and National Polytechnic institute (IPN), EVL has an extensive track record of collaborative work with the largest public transportation owners associations in both Mexico City and Guadalajara. These collaborations are key towards making the cities’ fleets more ecological, ranging from zero emission buses to high-impact fuel and emission reduction devices.
About HydroPhi
HydroPhi Technologies Group, Inc. (HPTG) is a developer of water-based hydrogen fuel production systems. The Company’s technology isn’t a fuel cell, nor is it a hydrogen alternative to traditional hydrocarbon fuels. The system utilizes distilled water for the production of hydrogen and oxygen, which is then injected into the air intake of an engine utilizing carbon-based fuels such as diesel, unleaded gasoline and natural gas. HPTG’s technology, (HydroPlant™) has been company tested with resulting reduced vehicle operating costs by improved fuel efficiency up to 20%, while lowering greenhouse gas emissions up to 70%. By using an on-board, on-demand electrolysis system to separate hydrogen and oxygen from water, the technology eliminates the need for high-pressure hydrogen storage or hazardous chemicals while producing a stable, inexpensive alternative fuel source. By offering a real-time monitoring system as part of a hydrogen fuel solution with retrofit capability into standard vehicle engines, HPTG provides fuel efficiency to a potentially broad spectrum of users, including logistics, trucking, heavy equipment, marine and agriculture. Additional information about the Company and the technology is available at: www.hydrophi.com.
Notice Regarding Forward-Looking Statements
This news release contains forward-looking statements, which reflect our views with respect to future events and financial performance. These forward-looking statements are subject to certain uncertainties and other factors that could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
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Exhibit 99.2
Investor Relations:
Crescendo Communications, LLC
Tel: (212) 671-1020 x 310
Email: hptg@crescendo-ir.com
HydroPhi Announces Over $1 Million Initial Purchase Order
from Energia Vehicular Limpia S.A. de C.V.
for its Client- Rutas Unidas to Install Hydroplant® Units on Transit Buses in Mexico City
Atlanta, GA – January 22, 2015 – HydroPhi Technologies Group, Inc. (OTCQB: HPTG) (“HydroPhi”), developer of the Hydrogen Hybrid™ approach to fuel efficiency and emissions reductions, today announced that Rutas Unidas Federación de Transportistas Independientes de México (“Rutas”), a large transit bus operator based in Mexico City, Mexico, has placed an initial purchase order valued at over $1 million for 100 HydroPlant units to be installed on transit buses in Mexico City. The purchase order is part of a broad transit bus refurbishing program utilizing HydroPhi’s HydroPlant® to extend the life of buses in public service for up to 8 years. As previously announced, Rutas will receive a $4,500 USD eco subsidy per unit towards the purchase of HydroPlant units.
Rutas has indicated its intention to install the technology on approximately 2,750 of their affiliated vehicles following extensive testing and pilot programs of the Hydroplant™ units. The HydroPlant technology (HydroPlant™) is designed to reduce vehicle operating costs and improve greenhouse gas emissions by improving fuel efficiency up to 20% while lowering emissions up to 70%.
Roger M. Slotkin, CEO of HydroPhi, stated, “With this sizable purchase order, we have now moved from a development stage company into full commercialization. We are particularly excited about the potential scope of this relationship with Rutas given their plans for broad deployment. We are appreciative of the help and support of our distribution partner, Energia Vehicular Limpia, which helped to secure these purchase orders and will assist with the commercial deployment. Looking ahead, we plan to work closely with Rutas and Energia to introduce our technologies in other major cities throughout Mexico and Latin America. There are similar private bus route associations located in most major cities through Mexico with buses numbering in the thousands.”
“The value proposition of our technology is compelling for fleet operators and feedback from prospective customers undergoing trials has been positive. Not only do fleet operators improve fuel efficiency, which saves them money, but as demonstrated by the positive results of tests performed by the Center for Atmospheric Sciences, at the National Autonomous University of Mexico (“UNAM”), our system dramatically reduces emissions. These emission reductions are the primary driver for the significant financial support we have received from Mexico City, which is moving aggressively to improve air quality.”
About Rutas Unidas
RUTAS UNIDAS, established in 1957, is the largest association of public transportation bus owners in Mexico, with more than 8,500 vehicles affiliated. It centers its operations in Mexico City where it handles almost 25 percent of government authorized routes, with a mix of vans, micro and regular full size buses. Since 2007 it has been pursuing 'clean' solutions for its different types of fleets that meet both profitability and environmental targets in the immediate future.
About Energia Vehicular Limpia S.A. de C.V.
Founded in 2007 and based in Mexico City, EVL’s work focuses on finding green solutions for public transportation in Mexico and Latin America’s urban markets. Supported by strong development agreements with leading institutions like Mexico’s National University (UNAM) and National Polytechnic institute (IPN), EVL has an extensive track record of collaborative work with the largest public transportation owners associations in both Mexico City and Guadalajara. These collaborations are key towards making the cities’ fleets more ecological, ranging from zero emission buses to high-impact fuel and emission reduction devices.
About HydroPhi
HydroPhi Technologies Group, Inc. (HPTG) is a developer of water-based hydrogen fuel production systems. The Company’s technology isn’t a fuel cell, nor is it a hydrogen alternative to traditional hydrocarbon fuels. The system utilizes distilled water for the production of hydrogen and oxygen, which is then injected into the air intake of an engine utilizing carbon-based fuels such as diesel, unleaded gasoline and natural gas. HPTG’s technology, (HydroPlant™) has been company tested with resulting reduced vehicle operating costs by improved fuel efficiency up to 20%, while lowering greenhouse gas emissions up to 70%. By using an on-board, on-demand electrolysis system to separate hydrogen and oxygen from water, the technology eliminates the need for high-pressure hydrogen storage or hazardous chemicals while producing a stable, inexpensive alternative fuel source. By offering a real-time monitoring system as part of a hydrogen fuel solution with retrofit capability into standard vehicle engines, HPTG provides fuel efficiency to a potentially broad spectrum of users, including logistics, trucking, heavy equipment, marine and agriculture. Additional information about the Company and the technology is available at: www.hydrophi.com.
Notice Regarding Forward-Looking Statements
This news release contains forward-looking statements, which reflect our views with respect to future events and financial performance. These forward-looking statements are subject to certain uncertainties and other factors that could cause actual results to differ materially from such statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statement was made. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
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