- Funding of up to USD 500 million secured for Waste Recovery Services (WRS) division
- Several major projects in advanced negotiations in multiple Asian countries
Zug, Switzerland, 30 July 2018 – iQ Power Licensing AG (ISIN: CH0268536338; WKN/Security Number: A14M1C; Symbol: IQL) a developer and licensor of technologies for environmentally friendly and technologically innovative starter batteries for motor vehicles, announces an important information about the upcoming M&A process of iQ Power Licensing AG (IQPL).
iQ Power Licensing has been informed by the management of Engenavis that its Waste Recovery Services (WRS) division, has contracted with a large New York City based funding organization for up to USD 500 million for WRS project funding. WRS is a division of the proposed new investor in iQ Power Licensing, Engenavis Inc., Delaware/USA and will be a sister company to iQ Power.
Funds will be released as soon as long-term offtake agreements with major customers, as well as local approval of the installation locations is obtained.
Currently discussions are in an advanced stage for major WRS projects outside the USA in several Asian countries. These countries include lucrative markets in the Gulf region as well as extremely large markets in the Indian sub-continent.
Management of the WRS division has secured the services of a top team of engineers and experts in the Waste-to-Energy (WtE) sector from South Africa. These experts are in addition to the team in Scottsdale, Arizona, USA already working on the technology. They will work to design, implement and operate the WtE plants and projects worldwide. With this combined team of experts, it will be possible to greatly enhance the cost effectiveness and revenue potential of the current technologies as well as to offer new Waste-to-Energy products and solutions.
About the iQ Power Technology
Batteries with iQ Power technology are designed to generate better performance in Start-Stop applications and to meet the growing demands of electronic usage in vehicles today. It is the first significant innovation to the flooded starter battery in decades. Automatic mixing of electrolyte inside the battery by passive mixing elements ensures uniform acid density for higher sustained performance throughout the entire life of the battery, thus avoiding early loss of capacity (Ah) as usual with ordinary batteries. This prolongs plate life by eliminating acid stratification and thermal gradients, delivering greater material utilization for a lower cost per cycle over conventional batteries. The patented technology was awarded the coveted Automechanika innovation award 1st prize in 2010 and und became a first prize winner of the GreenTec Awards in 2017.