BUDAPEST, HUNGARY 11/10/07 -- Power of the Dream Ventures (PDV), Hungary's premiere technology acquisition company, orders technology demonstrator generator prototype for RiverPower.
Following the successful testing of the technology demonstrator ordered on September 4, which produced the desired results, a full size generator was commissioned. It is to be used on a full size RiverPower machine to be tested in the beginning on 2008.
"Today we take another important step in developing RiverPower. The generator prototype functioned as planned. Its unique designed produced what we hoped for. With only minor design modifications needed today we ordered a full version of the device. It will be built by Mihaly Disznos, who’s done a tremendous job on the prototype." commented Viktor Rozsnyay, President of the Company.
Since acquiring RiverPower on May 24, 2007 the Company has filed two patent applications, commissioned and completed construction on two 1/4th scale technology demonstrator prototypes, completed engineering and building a technology demonstrator generator prototype and commissioned independent testing of the technology.
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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.