SPOKANE, Wash., Jan. 10, 2019 (GLOBE NEWSWIRE) -- REGI U.S., Inc. ("REGI" or "RGUS" or "the Company") (OTCQB:RGUS), The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies, Inc. (RadMax), announced the review of 2018 accomplishments and outlook for 2019 at year end gathering.
Michael Urso, CEO, congratulated and thanked RadMax employees for a successful 2018 at a recent employee luncheon, and also discussed how the Company plans to build on those accomplishments in 2019.
Highlighted 2018 accomplishments included:
The efficiency, sealing and durability milestones achieved as part of the development and testing program for RadMax's positive displacement gas expanders;
The Company's expanding intellectual property;
And most importantly, the sale of the first commercial expander to the Pacific Northwest National Laboratory (PNNL) scheduled for delivery in early 2019.
The RadMax positive displacement gas expander has the unique advantage of being able to operate in both gas and gas-liquid states, and is projected to extract 10 - 20% of the available pressure-volume energy normally lost in traditional throttling operations. The RadMax gas expander is being developed to replace incumbent pressure regulation and other throttling valves used in air conditioning/refrigeration, natural gas, steam and other pressurized gas applications.
Recent testing of our fourth-generation gas expanders has demonstrated predicted torque and power generation values at all tested speeds, while achieving overall efficiencies greater than 70%. This is a significant step toward achieving our goal of over 85% efficiency in next generation devices. Additionally, current durability testing is showing no measurable component wear after 500 hours of continuous operation, indicating that the device is well on the way to meeting the 40,000 hours before overhaul goal.
RadMax is supporting the Department of Energy's (DOE) Pacific Northwest National Laboratory (PNNL) in their development and demonstration of an innovative, reduced cost energy system that will utilize a refrigerant based RadMax gas expander capable of delivering approximately two (2) kW of electrical power from their laboratory scale demonstration system. PNNL's patent-pending Harmonic Adsorption Recuperative Power (HARP) system implements a new non-condensing thermodynamic cycle projected to be 40% more efficient than commercially available organic Rankine cycle (ORC) systems, when paired with a suitable low temperature heat source. This research project is funded by DOE's Geothermal Technologies Office. It is the first of several projects currently being jointly pursued by RadMax Technologies and PNNL.
Additionally, the Carrier Corporation has donated a state-of-the-art 10-ton air conditioning/chiller system to be used as the test platform for the development and testing of RadMax two-phase refrigerant expander generators. Our objective is to improve the systems coefficient of performance (COP) by 5 to 15%. If fully implemented in all relevant air conditioning and refrigeration applications, 50 - 150 billion kWh of electricity worth $5 - $15 billion and up to 150 million metric tons of CO2 fossil fuel related emissions could be saved annually in the U.S. alone. We are very appreciative of Carrier's assistance in defining and delivering the state-of- the-art equipment, as well as their willingness to review and interpret the results from our on-going development programs.
Looking forward to 2019, RadMax is actively communicating with government agencies, leading air conditioning/refrigeration, natural gas distribution, and Oil & Gas companies to become commercialization partners. Our objective is to identify application opportunities and develop products that reduce the environmental footprint of existing products. Specific areas under discussion include specific manufactures air conditioning systems testing, demonstration projects for natural gas pipeline power generation, syngas power generation, and industrial plant process power generation.
ABOUT REGI U.S., INC
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., Inc., is a research and product development company that is designing, developing and proving a family of smaller, lighter and more energy-efficient rotary engines, compressors, pumps and gas expanders for civilian, commercial and government applications. Our focus is on developing advanced devices that reduce carbon footprint, reduce device size, weight and parts counts, and increase fuel and manufacturing efficiencies. Based on our innovative and patented RadMax axial van-type technology, our devices are designed for high output to weight ratio and are easily scalable from small to very large. For more information, please visit www.radmaxtech.com
Forward Looking Statements:
Statements in this press release regarding the business of and REGI U.S, Inc. (together the "Companies'") which are not historical facts are "forward-looking statements" that involve risks and uncertainties, certain of which are beyond the Companies' control. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case 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 any such forward-looking statements.
Regi U.S., Inc.
Michael S. Urso, CEO
7520 N. Market St. STE # 10
Spokane, WA. 99217-7800
Investor Relations Contact:
Jack Eversull, President
The Eversull Group, Inc.
Source: RadMax Technologies, Inc.