Potential Multi-Billion Answer to Wasted Electricity
Intelligent Highway Solutions, Inc. (OTC PINK: IHSI) announced today that it has signed a Memorandum of Understanding to acquire 100% of Fazync Corporation. The memorandum means IHSI will own 20% equity interest in the Fazync Phase Angle Synchronization equipment that, for the first time, will allow electric utilities to recycle wasted electricity. The inventor owns the balance of the interest.
The acquisition allows Fazync Corporation the rights to manufacture market and sell the Fazync Phase Angle Synchronization technology. Fazync Corporation will install the Fazync technology system in its new facility in Sacramento, California, that will be a live, real-time operational unit. IHSI is setting up demonstrations for utilities, large commercial and industrial users at our new facility.
Devon Jones, CEO of IHSI, stated, “The LOI that was signed last month with Fazync LLC was the initial step that moved us to taking an equity position in Fazync. This memorandum, and the forthcoming definitive agreements, are a natural evolution, moving our understanding of the technology from market testing to market acceptance. We have met with utilities, commercial and industrial owners, and the idea of recycling energy has generated enormous interest. We are moving forward to demonstrate the technology. We have scheduled upcoming, live demonstrations.”
Mr. Jones continued, “We anticipate having then new facility and the demonstrations ready to go within the next 60 days. Check our Twitter and Facebook pages for updates.”
“It is estimated that 40 percent of all electricity that is generated and utilized at large industrial sites is lost. When installed at the host facility, the Fazync product will allow electricity lost at a large industrial plant to be saved and utilized. We are confident that utilities will learn that by leasing this technology they can extend the life of their grid, protect it from excessive wear, damage, reduce the incidence of power outages that cost the industry an estimated $150 billion a year, and perhaps avoid having to build a new multi-billion dollar power plant,” Mr. Jones concluded.
About Intelligent Highway Solutions, Inc.
Intelligent Highway Solutions, Inc. was formed in April 2011. IHSI provides technology driven solutions for commercial, industrial, and municipal facilities, from full-turn-key general contracting to LED lighting retrofits, HVAC and temperature control upgrades, to solar renewable energy systems, working with commercial developer, government and transportation sectors. Fazync technology is the first and only Phase Angle Synchronization technology that re-cycles electricity with the addition of Cresent Construction, North Carolina, and IHSI is a full-service general contractor providing design, installation and construction management services.
Any statements contained herein that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are made subject to certain risks and uncertainties, which could cause actual results to differ materially from those presented. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only to the date such information was released. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after release of this information.
SOURCE: Intelligent Highway Solutions, Inc.
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