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About PowerVerde, Inc.
PowerVerde has designed, developed and patented a unique gas expansion machine capable of producing electrical power without combustion or fossil fuel and emitting zero exhaust gases. The only source of energy (fuel) is any low-grade heat source, or adequate pressure, created by solar, thermal, geo-thermal, biomass, waste-heat or wellhead pressure.
The design of the motor was conceived and co-developed by Fred Barker, a former Boeing Engineer. Mr. Barker partnered with co-developer George Konrad, owner of Arizona Research and Development Corporation, utilizing Mr. Konrad's manufacturing expertise. In 2007 the prototype design was further refined with additional patent claims in combination with the company's proprietary Organic Rankine Cycle System. In this application the energy from 160-degree solar-heated water drives the motor, ultimately producing alternating electrical current.
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
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