Cybernetic Technologies Ltd (HPIL), Announces it is launching Apogee Dynamics Ltd
Rhea-AI Summary
Cybernetic Technologies Ltd (OTC: HPIL) has partnered with L. Ferrox Tutinean to establish Apogee Dynamics Ltd, a company focused on innovative battery technology. Apogee Dynamics aims to create a power source that charges only annually for diagnostics and repairs, applicable to various vehicles including automobiles and boats. Tutinean, who brings extensive experience from the US Military and was involved in projects like the B-One Bomber, will serve as President. CEO Stephen Brown emphasized the potential impact of this technology in the energy sector.
Positive
- Formation of Apogee Dynamics Ltd focusing on unique battery technology.
- Leadership includes L. Ferrox Tutinean, with a strong background in military and technology.
- Technology aims to reduce utility dependence, beneficial for various vehicles.
Negative
- None.
News Market Reaction – HPIL
On the day this news was published, HPIL gained 13.04%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC, June 15, 2021 /PRNewswire/ -- Cybernetic Technologies Ltd (the "Company") (OTC: HPIL) announces that it has joined forces with a group led by L. Ferrox Tutinean to launch Apogee Dynamics Ltd a company that Cybernetic Technologies is a majority owner. The Company was founded for the purpose of developing a unique and disruptive battery/power source that will need utility-dependent charging only for yearly diagnostics and repairs while in use for such vehicles as Automobiles, Boats, and many other forms of transportation.
The Company quotes: "WE MANUFACTURE POWER TRAINS THAT BUILD THEIR ENERGY RESERVES WHILE IN USE INSTEAD OF PLUGGING THEM INTO A POWER OUTLET." To have Mr. Tutinean the developer of such ground-breaking technology brings an amazing background with the US Navy and Marines covering a combined 22 years, along with being employed within the USA Military industrial Complex. Mr. Tutinean furthermore worked at the Naval Weapons Laboratory, Material Science division. He was involved in the construction of the B-One Bomber. His experience and work history are vast and includes investment technology analyst. Mr. Tutinean is registered with MENSA an organization wherein only
Safe Harbor: This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased," "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filing.
For more information:
Cybernetic Technologies Ltd
1720 650 West Georgia St
Vancouver, BC V6B 4N8
Contact: Stephen Brown, CEO
www.cybernetictech.ca
info@cybernetictech.ca
Ph: (778) 819-1956
View original content:http://www.prnewswire.com/news-releases/cybernetic-technologies-ltd-hpil-announces-it-is-launching-apogee-dynamics-ltd-301312484.html
SOURCE Cybernetic Technologies Ltd
FAQ
What is the purpose of Apogee Dynamics Ltd launched by Cybernetic Technologies (HPIL)?
Who is leading the new company Apogee Dynamics Ltd?
What is the stock symbol for Cybernetic Technologies?
What unique feature does the new battery technology developed by Apogee Dynamics have?
