Hydro Power Technologies (PYBX) Announces Corporate Milestones Toward Marketing and Distribution of 'Hammer1' Technology
May 19 2020 - 11:18AM
InvestorsHub NewsWire
Hydro Power Technologies
(PYBX) Announces Corporate Milestones
Toward Marketing and Distribution of
'Hammer1' Technology
Burlington, ON, Canada -- May 19, 2020 --
InvestorsHub NewsWire -- PYBX Hydro Power
Technologies, Inc., (OTC
PINK: PYBX)
is accelerating development
internationally with its patent pending Hammer1 Technology.
The
enhanced impact turbine power
production is accomplished by increasing jet projectile velocities
through the Hammer1 Gun
Valve. The
Hammer1 Gun Valve is the device used to
start and stop the fluid movement, which creates the additional jet
velocity, resulting in improved kinetic energy, with less effort,
resulting in more energy per operating dollar.
Renewable
Energy World, in a recent April 2020 update, reported during the
Covid-19 crisis, https://www.renewableenergyworld.com/2020/04/06/renewables-achieve-clean-energy-record-as-covid-19-hits-demand/,
"Renewable"
share of
total clean energy generation in Europe topped 60% for the first
time, in the first three months of the year". In addition, the
report stated, hydropower was the second largest source of
renewable generation in the quarter, producing 126.1
TWh, with
Norway providing the largest share of this market. This figure
represents a 20% increase compared to Q1 2019, but is lower than
levels seen in 2018.
In contrast, generation
from nuclear plants fell to 192 TWh in the first three months
of 2020 – the lowest Q1 figure in the last five years and down from
the 219.6 TWh produced in Q1
2019.
The experienced engineers
and executives at Hydro Power Technologies predict significant
demand for hydro power generation and for efficiencies in renewable
energy as energy demand increases, which will result in significant
demand for its products and services.
Hydro Power Technologies
President Michael Shamber, reports there have been significant
milestones which have been accomplished despite the difficulties
being experienced in the majority of the world markets, largely due
to the COVID virus pandemic lockdown initiated by most
countries.
Since
February 2020, the Company retained Matthew McMurdo,
Esquire, NYC, as SEC Compliance
Counsel. It completed all requisite filings with OTC Markets,
including Mr. McMurdo's Legal Letter and obtained current Pink Tier
status with OTC Markets, plus the Company's shareholders
approved the election of new directors and appointed new officers..
Also in February 2020, DTCC approved the Company
for
FAST/DWAC/DRS Status, which enables Electronic Stock Transmission.
On March 16,
2020,
the Share Exchange Agreement between Playbox
and
Hyro
Power
Technologies was finalized and executed by the parties for the
asset purchase of Hydro Power Technologies, Inc. and
Playbox(US),
Inc., and made effective December 31, 2019.
On April 8, 2020, the
Company amended its Articles of Incorporation and changed its name
to: Hydro Power Technologies, Inc.
On May 15, 2020, the Company updated its corporate website.
Going forward, our official Twitter account is https://twitter.com/HydroPowerTech .
On behalf of
the Board
Michael
Shamber
President
Copyright May 2020
© Hydro
Power Technologies Inc.
4200 Morris Drive, Burlington, ON Canada L7L 5L6
Tel. +1-917-821-9585
Fax.+1-857-350-3447
Email: info@hydropowertechnologies.com
https://www.hydropowertechnologies.com
https://twitter.com/HydroPowerTech
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