LAS VEGAS, NEVADA - (Sept 17, 2013) - (ACCESSWIRE) GEI Global Energy Corp (OTC:QB:GEIG) announced today the name change and symbol change to GEIG.
Dr. K. J. Berry, Chairman and CEO, stated: "We believe this name and symbol change will better reflect our Company to the global investing community."
GEI Global Energy Corp., in cooperation with governments and industry around the world, will provide GEI's unique technology for scalable, green fuel cell power plants. A multi-trillion dollar market is available and GEI intends to be a world leader in providing clean, inexpensive energy. GEI's commercial potential is essentially unlimited. By becoming public and raising the necessary capital, GEI will be able to aggressively expand into the worldwide market for clean and inexpensive energy (http://www.geiglobal.com/).
The GEI X5 is different; it is a "hybrid" fuel cell power system that incorporates a high temperature PEM (Polymer Exchange Membrane) fuel cell and a high-density energy storage system. Because batteries and ultra-caps are excellent at satisfying high instant power demands, as such GEI fuel cell power systems can be sized to meet nominal power requirements and can be integrated with solar and wind projects to achieve maximum efficiency.
Fuel cells are a highly efficient, combustion-less, reliable, and virtually pollution-free energy source that provide electricity to power a wide array of applications, including buildings (manufacturing facilities, hotels and hospitals), primary power for grid integration, automobiles, emergency back-up systems, and base load grid power. A fuel cell uses fuel - usually hydrogen extracted from common fuels such as natural gas, and oxygen - to produce electricity. In principle, a fuel cell is an electrochemical device that operates like a battery. However, unlike a battery, a fuel cell requires re-fueling and not recharging. Fuel cells will continue to produce electricity and heat as long as there is a constant fuel source. Hydrogen fuel cells work simply, have no moving parts, and operate silently, with water and excess heat as their only by-products. Fuel cells thus provide the ideal solution for a myriad of portable, on-board and stationary electric power generation applications.
The GEI fuel cell systems can operate on a number of fuel sources such as natural gas, ethanol, propane and bio fuels. Since GEI's fuel cells can leverage the existing logistic fuel infrastructure makes the Company very unique in the Industry. Fuel sources such as natural gas are cheap and abundant worldwide; this will enable GEI to be very competitive. Since the GEI X5 'brand' fuel cell system is scalable and stackable, it enables the Company to become a market leader in every category of the fuel cell Industry and has the potential to create new categories. GEI can build fuel cells ranging from 2KW - 100KW and since the Company has the ability of stacking the fuel cells like building blocks it can build fuel cell power plants that are multi-megawatts in size. The GEI commercial potential is unlimited and will focus much of their attention on the large scale power utilities worldwide as it has the ability to become both a technology game changer and a market leader.
The GEI fuel cell system provides 24-7 primary power for homes and buildings and is paramount due to very restrictive offerings from other companies with only back-up power (due to fuel restrictions) or power to one singular application (due to technology restrictions). The GEI X5 core strategy is to avoid providing a "niche" technology for a "niche" application, but rather provide a robust and scalable systems technology applicable across multiple platforms that allow high volume cost reductions and savings in design and manufacturing cost. There are currently 3 patents that protect this technology and the Company plans with several more to be filed before the end of 2013.
Dr. K. Joel Berry
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements" as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of our exploration program at our properties and any anticipated future production. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mining exploration companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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