BUDAPEST, HUNGARY 11/28/07 -- Power of the Dream Ventures, Inc. (PDV), Hungary's premiere technology acquisition company is pleased to announce the acquisition of three additional environmental technologies from inventor Imre Kalmar Nagy.
"Building on our relationship with Mr. Kalmar, we though it appropriate to acquire an additional three technologies from him. His genius when it comes to chemistry never sees to amaze us. Of these three new technologies one, having to do with PVC shielded cable recycling, is an instant winner, at least in our book. I hope it is not too early to say but we’ve already received licensing interest on it, but first we must complete the patenting process." commented Viktor Rozsnyay, President of the Company.
The three inventions are:
-a chemical additive for Red Mud neutralization (a by product of the bauxite refining industry for aluminium manufacturing) which is a liquid additive based technology capable of neutralizing heavy metals (and its caustic material content) inherent in red mud by virtue of forming a concrete like substance that will not leak dangerous elements even when exposed to heat, rain or other environmental factors.
- PVC shielded electrical cable recycling is also liquid based solution which allow for the easy removal of PVC from electrical cable scrap. Cables are simple submerged in a solution, soaked for approximately fifteen minutes, fallowing which the metal can be easily pulled from the PVC coating. In approximately two hours time the PVC return to its natural, rigid state. The liquid can be reused between 50-60 times. This technology can also be used to remove the metal mash found in car tires, another problem area that is not fully addressed today.
- and the third invention is a biodegradable de-icing solution composed of natural compounds that are environmentally friendly and are especially suited for the prevention and removal of ice and snow. Pre-treated with the product, ice will not form on surfaces. Used on its own (without mixing with water) it is suitable to -39 degrees centigrade. The product does not contain and salt or its compounds.
According to the agreement PDV paid Mr. Kalmar HUF 5,000,000 (approximately $25,000) for the three inventions, which have been deemed patentable by Pintz & Co., patent attorneys at law after extensive due diligence. The Agreement covers all methods and extents of utilization of the inventions and all aspects of the underlying technology, which are to be patented with Vidatech as the patent holder. Upon successful deployment and commercialization of any or all of the three technologies, Vidatech will receive sixty percent of revenues generated, while the Inventor will receive forty percent.
Going forward patent applications will be filed for all three inventions, and then independent testing and verification will be initiated. Once test results are obtained the products will be available for licensing worldwide.
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.