New Name Leverages Strength of PwrCor(TM) Technology and Aligns Company and Technology in a Single Brand Name
NEW YORK, March 21, 2017 (GLOBE NEWSWIRE) -- Receivable Acquisition & Management Corporation (OTCQB:CSEI), d/b/a Cornerstone Sustainable Energy, a cleantech energy technology company launching advanced and disruptive solutions for the Waste Heat to Energy, Geothermal, and Solar Thermal markets, today announced that it has changed the Company's corporate name to PwrCor, Inc. The change is effective immediately.
"Our new corporate name more closely relates to the Company's main operations in the alternative energy business based on our green PwrCorTM engine technology, and represents a key milestone in the development of a strong corporate identity that more accurately represents our company and its technology to our clients and prospects," said Tom Telegades, Chief Executive Officer. "With the onset of our first geothermal project that will convert ultra-low-grade heat into electricity in northern California advancing our commercialization program, the Board felt that now was the appropriate time for this change."
Stockholders approved the name change at the Annual Meeting of Stockholders held on January 20, 2017. The Company filed an Amended and Restated Certificate of Incorporation with the Secretary of State of Delaware on March 3, 2017 and a subsequent Form 8K was filed with the SEC on March 8, 2017.
In addition to the name change, the Company adopted a new corporate logo and has established a new website that can be found at www.pwrcor.com. The website will be revised and updated over the coming weeks. The Company has also filed a request with FINRA to change its trading symbol, approval of which is expected shortly.
About the Technology
PwrCorTM engines use proprietary technology that can cost effectively convert ultra-low-grade heat to usable mechanical or electrical energy, opening up an immense market that competing technologies cannot exploit with a cost effective solution. PwrCorTM is a cleantech ‘GREEN' technology that uses no fossil fuels, does not operate via combustion, has no emissions, and does not process any working fluids that are flammable, harmful to the environment, or costly to replace. PwrCorTM is scalable, modular, and runs relatively silently, all within a small footprint.
About PwrCor, Inc.
PwrCor, Inc. is a cleantech energy technology company offering advanced and disruptive solutions for the Waste Heat to Energy, Geothermal, and Solar Thermal markets,, as well as other applicable markets. PwrCor is also focused on energy infrastructure development projects and delivering cleantech energy solutions to commercial and not-for-profit customers. Please visit our website at www.pwrcor.com for additional information.
Forward-Looking Statement Safe Harbor
With the exception of the historical information contained in this release, the matters described herein contain 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 statements involve unknown risks and uncertainties that may individually or mutually impact the matters herein described for a variety of reasons that are outside the control of the Company, including, but not limited to, its ability to raise sufficient financing to implement its growth strategy, and its ability to successfully develop and commercialize its proprietary products. Readers are cautioned not to place undue reliance on these forward-looking statements as actual results could differ materially from the forward-looking statements contained herein. Readers are urged to read the risk factors set forth in the Company's most recent reports on Forms 10-K, 10-Q, 8-K, Schedule 14A and other filings made with the SEC. Copies of these reports are available from the SEC's website, www.sec.gov, or without charge from the Company. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results could differ materially from those anticipated in these forward-looking statements, if new information becomes available in the future. For additional information go to www.pwrcor.com.
Thomas Telegades, CEO
Investor Relations Contact:
PCG Advisory GroupStephanie Prince, Managing Director
Ph: (646) 762-4518
Source: Cornerstone Sustainable Energy, Inc.