RadMax Technologies Announces Agreement with TAKEnergy Inc. For Natural Gas Expander Power Generation Development
Spokane, Washington, November 2, 2021 — 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) are pleased to announce an agreement with TAKEnergy Inc. (Take), Calgary, AB, to support RadMax’s demonstration project of natural gas expander power generation for the Oil and Gas and Pipeline industries in Canada.
In its project supporting role, Take will be providing RadMax with engineering, manufacturing, financial and other support, as well as Alberta test site services. RadMax and Take will continue to collaborate on a commercialization plan for RadMax’s patented technology.
The project is being supported in part through CD$72,000 in approved funding from NGIF Industry Grants (Canada). (Read the NGIF news announcement here). It will demonstrate the economic feasibility and operational effectiveness of the RadMax device as a means to reducing methane emissions at the wellhead and at gas pipeline pressure let down stations. The project will be further supported and performed at an ATCO Natural Gas distribution facility in Calgary, AB.
RadMax’s natural gas expander can capture energy in pressure letdown applications and convert it to power. It uses the pressure differential from streaming natural gas to generate electricity or compressed air, either of which can be used to drive pneumatic valve actuator controllers, or provide an inexpensive source of dependable, green power for the site.
“Our ability to offer economical, reliable and cleantech alternatives for powering control, monitoring and communication devices is a significant breakthrough for regulators, producers and operators looking to reduce methane emissions from the over three million natural gas producing wells globally,” explained Paul Porter, RadMax President and Chief Technology Officer.
“This technology will play an important role in helping Canada’s natural gas industry meet newly mandated methane reduction targets. It also addresses a market for zero emission small scale power generation in pressure letdown applications for pipelines and commercial buildings. TAKEnergy is excited to partner with RadMax to bring this technology to market,” said James Cleland, President of TAKEnergy.
About REGI U.S., Inc.
RadMax Technologies, Inc., the wholly owned subsidiary of REGI U.S., 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 is developing and commericalizing high efficiency engines, compressors, expanders and pumps for civilian, commercial and government applications based on our patented RadMaxTM axial vane-type rotary technology.
About TAKEnergy Inc.
TAKEnergy Inc. is a Calgary based business, formed in 2021 by five energy and manufacturing executives to address two critical market needs: help Canada’s natural gas industry meet zero methane emission targets and provide small scale green power to industrial and commercial clients. TAKEnergy is committed to Alberta’s manufacturing industry and will setup facilities to manufacture and assemble products based on RadMaxTM patented technology.
About NGIF Industry Grants
NGIF Industry Grants is a first-of-kind, industry-led grant organization to fund early-stage startups developing solutions to environmental and other challenges facing Canada’s natural gas sector. NGIF Industry Grants develops, demonstrates and de-risks these technology solutions through field trials and pilot projects to drive innovation and support environmental goals in Canada. NGIF Industry Grants’ investment focus is on existing natural gas production, transmission, distribution, storage, and end-use applications, as well as projects that will lead to the expanded production of emerging gaseous fuels like renewable natural gas and hydrogen. The organization has built a portfolio of startups, trusted partnerships with government for co-funding opportunities, and a robust technical evaluation investment model. NGIF Industry Grants is operated by NGIF Capital Corporation.
Forward Looking Statements:
Statements in this press release regarding the business of RadMax Technologies, Inc. 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.
CONTACTS:
Regi U.S., Inc. Paul W. Chute, CEO (509) 474-1040 Ex. 101 info@radmaxtech.com 7520 N. Market St. STE #10 Spokane, WA. 99217-7800
TAKEnergy Inc. James Cleland, President (403) 992-6104 james.cleland@takenergy.com Suite 1500, 205 – 5th Ave SW Calgary, AB. T2P 2V7