BUDAPEST, HUNGARY 11/5/07 -- Power of the Dream Ventures, Inc. (PDV) is pleased to announce that that company’s wholly owned Hungarian subsidiary, Vidatech LLP, has filed a patent applications for the protection of FireSAFE, a recently acquired environmentally friendly fire fighting liquid.
The patent was filed in Hungary, with PCT (Patent Cooperation Treaty) applications to be filed within the time allowed by patent law. The patent is to protect the chemical composition of FireSAFE.
"We are happy to report that after RiverPower we have filed our third patent for the protection of intellectual property developed in Hungary. FireSAFE can be a tremendous asset in wild fires that cause hundreds of millions of damage annually." commented Viktor Rozsnyay, President of the Company.
FireSAFE is an environmentally friendly, biodegradable liquid that is designed to prevent and if necessary extinguish, natural fires that are exceedingly hard, or impossible to contain with water or other fire fighting methods. This category includes forest, bush and other natural fires. "Now that our FireSAFE patented application has been filed we will commission an independent study of the product to properly document its capabilities. Once the study completes, FireSAFE will be available for licensing worldwide." added Daniel Kun, Vice President of the Company.
For more information please visit our website at 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."
Daniel Kun, Jr.
Source: Power of the Dream Ventures, Inc.