BUDAPEST, HUNGARY 10/3/07 -- Power of the Dream Ventures (PDV), Hungary's premiere technology acquisition company, today announced that the Company has appointed VITUKI, Hungary’s Environmental and Water Management Research and Consulting Ltd., to test the Company’s RiverPower technology.
VITUKI houses Central-Eastern Europe’s largest water testing equipment. RiverPower will be tested in a 70 meter long 1.5 meter wide channel. Rather than flowing water through the device, it will be moved in the water, which produces the same results but requires less expensive equipment. To test RiverPower machines with running water, as in a river, would have required equipment that is beyond the scope of VITUKI’s ability.
Both RiverPower prototypes will undergo rigorous trials to determine they structural, engineering and design soundness. Available tongue will be recorded with a special purpose torque meter especially acquired for the project. Projected during of the trials is approximately 2 months.
The prototypes will be tested with and without a wire mesh, which will be installed on the final life size machine and used for protecting the moving parts of the machine from larger contaminants inherent in rivers.
"This independent test will allow us to truly determine the real potential of this technology, and to gain significant insight into the optimal construction needs of the machine. VITUKI is an internationally recognized and respected expert in water management issues. Their findings will be paramount in enhancing RiverPower, if need be." commented Viktor Rozsnyay, President of the Company.
For more information please visit http://www.powerofthedream.com
This release may contain "forward-looking statements" for the purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect the Company's current expectations about its future plans and performance, including statements concerning the impact of marketing strategies, new product introductions and innovation, deliveries of product, sales, earnings, and margins. These forward-looking statements rely on a number of assumptions and estimates which could be inaccurate and which are subject to risks and uncertainties. Actual results could vary materially from those anticipated or expressed in any forward-looking statement made by the Company. Please refer to the Company's most recent Form 10-K and subsequent filings for a further discussion of these risks and uncertainties. The Company disclaims any obligation or intent to update the forward-looking statements in order to reflect events or circumstances after the date of this release.
Power of the Dream Ventures, Inc. is a premier holding company focused on technology acquisition and development enabling the delivery of revolutionary concepts and ready to market products to the international market place. We provide hands on support by developing-, acquiring-, licensing-, or co-developing technologies by offering a full range of services designed to encourage and nurture growth by virtue of access to the expertise of Power of the Dream Ventures' management team, and their substantial network of advisors and contacts. We develop-, acquire-, license-, or co-develop technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies and ideas from the very early stages on that represent "disruptive technologies."
VITUKI Consult Environmental and Water Management Research and Consulting Ltd (in short VITUKI CONSULT Zrt.) was established in 1992. It undertakes national and international consultancy and research services in all aspects of environmental and water management. VITUKI CONSULT Rt is registered with the EU Phare Centre and the EBRD, member of the Association of Environmental Enterprises, Hungarian Hydrological Association (MHT), Chamber of Hungarian Engineers, The Hungarian Professional Association of Water and Sewerage Companies (VCsOSzSz), British Chamber of Commerce in Hungary (BCCH), and carries a professional liability insurance. Since 1998 the Company is accredited according to the ISO 9001 Standard.
Daniel Kun, Jr.
Source: Power of the Dream Ventures, Inc.