BUDAPEST, HUNGARY 12/6/07 -- Power of the Dream Ventures (PDV), Hungary's premiere technology acquisition company, today announced that VITUKI, Hungary’s Environmental and Water Management Research and Consulting Ltd., completed independent testing of the Company’s 1/4th scale RiverPower prototypes.
The tests, which focused on general machine design and the determination of available torque on the generator shaft, have produced results in-line with the expectations of the Company’s management.
"I believe the results obtained correlate what we where looking for both in terms of design and torque. The two 1/4th scale prototypes, built slightly differently and with different materials, produced enough date to allow us engineering of a full sized prototype. I believe we are on track of meeting all goals planned for the project. There is still a lot more to be done, but this is a significant first step", commented Mihaly Zala, Chief Technology Officer of the Company.
Fallowing data analysis and extensive consultation with VITUKI staff members engineering work will commence on the full sized machine.
"Once again we move forward in the planned direction. These tests provided useful independent data on RiverPower. Building on that data will allow us to design a better machine, a life size machine that will be tested in a real river. I look forward to that time", added Viktor Rozsnyay, President of the Company.
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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.