Tokyo, Japan--(Newsfile Corp. - May 29, 2015) - Aqua Power Systems Inc. (OTCQB: APSI) (the "Company") is pleased to announce that it has signed a Licensing and Option Agreement with Tadashi Ishikawa, our chief executive, director and majority shareholder, and Aqua Power System Japan Kabushiki Kaisha ("Aqua Power Japan"), a company specializing in the development, manufacturing, and commercialization of magnesium air fuel cell technologies for generating safe, green, reliable and inexpensive off-grid electricity, which is also operated by Mr. Ishikawa.
The Licensing and Option Agreement, subject to its terms and conditions, provides the Company with the exclusive worldwide rights to manufacture, market, and distribute all RMAF fuel cell technologies and products developed by Aqua Power Japan. In addition, also subject to certain terms and conditions, the Licensing and Option Agreement provides the Company with an option to purchase Aqua Power Japan. The renewable Licensing and Option Agreement is for a term of 10 years.
"We are very pleased to have quickly completed an exclusive worldwide licensing agreement for Aqua Power Japan's patented water activated RMAF magnesium air fuel cell technologies", commented Tadashi Ishikawa, President of Aqua Power Systems Inc. Furthermore, "These products and technologies have already been proven under the demanding conditions in the Japanese market since 2009. Now, as a result of a rapid increase in interest in clean, portable, and scalable battery technologies for home, commercial, and automotive applications, the timing of this licensing agreement has positioned the Company to expand distribution and build public awareness of RMAF fuel cell technologies and products on a global scale."ABOUT AQUA POWER JAPAN
Founded in Japan in 2004, Aqua Power Japan develops, manufactures and has successfully commercialized magnesium air fuel cells for generating safe, green, reliable and inexpensive off-grid electricity. Aqua Power Japan's patented (and patent pending) Realistic Magnesium Air Fuel System ("RMAF") technology causes electricity to be generated from the chemical reaction of the combination of magnesium, oxygen (air) and a saltwater electrolyte. RMAF powered applications can be refueled using its proprietary lightweight magnesium rods, which fuel the chemical reaction.
RMAF fuel cells have a long shelf, are lightweight, transportable, environmentally friendly, safe and scalable for greater power generation. Aqua Power Japan has aggressively patented (16 patents and patents-pending to date) and protects its intellectual property in Japan and internationally.Aqua Power Japan's fuel cell technology can be applied to many applications requiring remote power, including emergency preparedness and disaster relief, outdoor recreation, industry (mining, oil and gas, forestry), military, marine (saltwater environments), and automotive opportunities (main drive, electrical subsystems, and backup systems).
Aqua Power Japan has been generating revenue since its initial products were launched in 2009 in Japan. These products included a water-activated AA battery (more than 8 million sold to date), mini-LED flashlights, and portable radios. Aqua Power Japan products gained national attention in Japan following the earthquake and tsunami that devastated many parts of the country in 2011.For additional information regarding Aqua Power, please visit www.aquapowersystems.com.
On behalf of the Board Tadashi Ishikawa, PresidentFor further information please contact: info@aquapowersystems.com.
Notice Regarding Forward-Looking StatementsThis press release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with intellectual property protection, marketing and sale, manufacturing and distribution and difficulties associated with obtaining financing on acceptable terms. We are not in control of energy trends and prices and these could vary to make our business development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
