SEOUL, SOUTH KOREA / ACCESSWIRE / June 5, 2018 / LGM Co., Ltd., a subsidiary of Leo Motors Inc. (OTC PINK: LEOM) will start it business in America through launching its high-power electric engine at San Diego Boat Show during June 7-10, 2018. To demonstrate its technical supremacy LGM brought in a speedboat LGM's 660 horsepower (HP) electric engine.
Vice Chairman of LEOM, Mr. Yong Chu with LGM's 660 HP electric powerboat.
LGM Co., Ltd., a subsidiary of Leo Motors, Inc. (LEOM) is a pioneer of developing a unique high-power electric engine for sailing, fishing, power boats, and yachts. LGM has overcome many inherent problems with electric boats by innovating technologies such as cartridge battery system, electricity shock prevention, range management, power management, electric magnetic radiation (EMR) prevention, plug-in hybrid power system, and mobile Artificial Intelligence (AI) connection. Without these key technology, nobody can make sustainable and marketable electric boats. Currently, LGM finished the developments and tests of various electric boat power systems from 16 HP to 660 HP (dual) HP which can let 32 feet power boat make speed up to 40 knots (approx. 46 miles/hour).
Electric boats have many advantages besides energy efficiency. Electric boats substantially reduce noise and vibration while traveling, the biggest problem for ICE (Internal Combustion Engines) boats, and do not produce any stench from oil or gas. Despite these advantages, only a handful of electric boats have been developed throughout the world due to high technology barriers.
Electric boat power systems have traditionally presented electric shock hazards because of the proximity of water. Thus, users of e-boats are always exposed to the potential of fatal electric shock accidents. LGM's technological break-through, the invention of the electric shock prevention circuit, eliminated such dangers, and this invention enables LGM to be the first company in the world to commercially offer water-friendly electric boats. Due to this, LGM is the only company in the world which can produce safe e-boats which are marketable.
Last year, LGM developed world's first marketable Plug-in Hybrid Boat (PHEB) engine. There were several researches or test developments of PHEB engines in the world, but the launch of commercial model was unprecedented except LGM. LGM's new 90 horse power PHEB engine which consists of electric engine including 67 kW electric motor, controller, and 24 kWh Lithium Ion battery power pack, and diesel engine generator charging 3kW ~ 9 kW of electricity per hour to the battery. Applying in the 24 feet PHEB fishing boat, the range when using only electric engine is around 18 miles per a single charge with speed of 30 knots per hour. After using the charged electricity, it uses electricity generated by the diesel engine. In this way, it solved the range limitation problems of electric boats.
The new PHEB system is managed by artificial intelligence (AI) controller connected with LGM's cloud server which automatically activates generator when the battery reaches to the depletion level. Also, the AI controller diagnoses the destination-based energy usage, and detects, and reports the status of all components of PHEB engine on the digital cluster and smartphone.
Mr. Won, CEO of LGM said, "With the debut of our PHEB engine, we have overcome range limitation which has been the inherent problem to electric boats. We expect the more rapid market development with this solution."
Dr. Kang, chairman of LGM said, "With the debut of LGM's electric engine in America, LGM will enter into the U.S. market this year selling electric engines to boat manufacturers and to boat repair/maintenance workshops who can provide electric upgrade services. LGM will replace old internal combustion engine (ICE) yachts and powerboats to the LGM electric engine." The process of converting a boat's ICE engine to electric using LGM systems and solutions is an easy process and costs are competitive to replacing old engines with new engines.
LGM is also going to provide Sailing Generation System that uses wind power generated from sailing to recharge batteries while underway using the sail, eliminating conventional charging processes. LGM's regeneration system is powered by hydraulic power, generating electricity of more than 10kW per hour depending on wind speed.
Any old yacht and boat owners will have opportunities to upgrade their old internal combustion engines into clean, stench free, noisy/vibration free, and low energy costs electric engine. LGM will receive only 1,000 conversion orders of electric engines with first come first serve basis this year in the U.S. The average price of LGM's 90 HP engine is around $50,000 including electric power motor, controllers, and high-end 24kWh lithium-ion battery power package.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "expects," "intends," "anticipates," "will," or "plans" to be uncertain and forward-looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.
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SOURCE: Leo Motors Inc.