RadMax Technologies announces product development and licensing agreement with TAKEnergy Ic.

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SPOKANE, WA / ACCESSWIRE / December 7, 2021 / REGI US, Inc. (“REGI” or “RGUS” or “the Company”) (OTC PINK: RGUS). The Board of Directors of Regi US, Inc. and its wholly owned subsidiary RadMax Technologies, Inc. (RadMax) are pleased to announce a comprehensive product development and licensing agreement (Agreement) with TAKEnergy Inc. (TAKE ), Calgary, AB, for Oil, Gas and Pipeline Industries in North America.

TAKE’s management team has over 150 years of combined oil and gas, manufacturing, engineering, and sustainable energy systems experience. With experience in the North American and international market, they are dedicated to the further development and rapid commercialization of RadMax products for the oil and gas industry in North America. This overriding agreement provides flexibility in developing a long-term manufacturing and marketing relationship between the two companies.

Under the terms of the agreement, RadMax grants TAKE the manufacturing and marketing rights to commercialize compressors and regulators based on RadMax technology for the North American oil, gas and pipeline industries. RadMax and TAKE will also jointly develop intellectual property related to technological advancements to commercialize RadMax products.

RadMax and TAKE anticipate that the new compressors and regulators will be available in late 2022 for the North American market through TAKE. This will follow the successful completion of the previously announced Canadian Natural Gas Innovation Fund (FING) sponsored demonstration project (read here).

RadMax regulators and compressors provide an efficient and economical path to compliance ahead of methane emission reduction requirements for oil and gas producers and distributors. When deployed at pressure drop points along the production and distribution chain, it will reduce GHG emissions and energy costs. The reliable, green, zero-emission energy generated by RadMax technology can play an important role in helping customers meet environmental goals and lower energy costs.

“Our ability to provide economical, reliable and clean power alternatives for the control and monitoring of remote sites, as well as the reduction of purchased electricity, is a significant advancement for regulators, producers and end users who seek to reduce methane emissions and carbon footprint, ”said Paul Porter, president and chief technology officer of RadMax.

“TAKEnergy is delighted to partner with RadMax Technologies to bring this innovative technology to market. Our team has the manufacturing capabilities, product development expertise and experience in the oil and gas industry to accelerate the pace. We are passionate about manufacturing in Alberta and look forward to working with customers to help them achieve their environmental goals, ”said James Cleland, President of TAKEnergy.

About REGI US, Inc.

RadMax Technologies, Inc., the wholly owned subsidiary of REGI US, Inc., is a research and development company focused on creating new disruptive technologies that are more efficient, compact and cost effective than those currently available, and develops and marketing high efficiency motors, compressors, regulators and pumps for civil, commercial and government applications based on our patented RadMaxMT axial vane rotary technology.

About TAKEnergy Inc.

TAKEnergy Inc. is a Calgary-based company formed in 2021 by five energy and manufacturing executives to meet two critical market needs: to help the Canadian natural gas industry meet zero methane emissions targets. and providing small-scale green energy to industrial and commercial customers.

FORWARD-LOOKING STATEMENTS:

Statements in this press release regarding the business of RadMax Technologies, Inc. and REGI US, Inc. (together the “Companies”) that are not historical facts are “forward-looking statements” that involve risks and uncertainties. , some of which are beyond the control of the companies. There can be no assurance that such statements will prove to be accurate, and actual results and developments are likely to differ, in certain cases materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on these forward-looking statements.

CONTACTS:

Regi US, Inc.
Paul W. Chute, CEO
(509) 474-1040 Ex. 101
[email protected]
7520 N. Market St. STE # 10
Spokane, WA. 99217-7800

TAKEnergy Inc.
James Cleland, President
(403) 992-6104
[email protected]
Office 1500, 205 – 5e Ave SW
Calgary, AB. T2P 2V7

THE SOURCE: REGI US, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/676160/RadMax-Technologies-Announces-Product-Development-and-Licensing-Agreement-with-TAKEnergy-Ic

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