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R EGI U.S., INC. NEWS RELEASE Regi U.S., Inc. Plan of Action Update October 2 9 th , 2020 REGI U.S., Inc. (“REGI” or “RGUS” or "the Company") The Board of Directors, Regi U.S., Inc. and its wh
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1
R
EGI
U.S.,
INC.
www.radmaxtech.co
R
EGI
U.S.,
INC.
www.radmaxtech.com
NEWS
RELEASE
Regi U.S., Inc. Plan of Action Update
October 2
9
th
, 2020
REGI
U.S.,
Inc.
(“REGI”
or
“RGUS”
or
"the
Company")
The Board of Directors, Regi U.S., Inc. and its wholly owned subsidiary, RadMax Technologies,
Inc.,
announc
e the following
updates to our phase 2
Plan of Action.
Our efforts to continue operations during thi
s depressed economic time show progress a
long
se
veral
fronts
:
During October, we demonstrated in
Texas
our RadMax
expander
technology to
several
Oil & Gas
industry producers
and related industrial
equipment
suppliers.
O
ur expander prototypes successfully ran
both
as stand
-
alone units and on
supplied test platforms providing proof of expected
electrical energy conversion
from pressure differentials in gas flow.
We have identified
additional
joint development
and application
opportunities.
Our field trials have
provi
ded
valuable
data which is being used to improve
expander
design
in
the
areas of
materials
selection
, vane
performance
,
improved
generator
efficiency
,
flow
filt
ering requirements
,
control systems
,
and
application management.
We
continue to
refine
our expander
designs
for
reducing
methane
emission
s
leading up to
commercialization
of the product in mid to late
2021.
D
iscussions on select projects with multiple
parties
are ongoing with the purpose
of
accelerating the timeline for the introduction of
commercial products.
We are continuing to search for a strategic business relationship with a midlevel
manufacturing company who seeks to expand or diversify their product lines.
Based on “common core” technology, RadMax expander and compressor
products
add efficiency to, and are suitable for use in various Oil & Gas industry,
HVAC, steam, waste heat recovery, water desalination/processing and other
industrial applications.
Our
current financials do not have any material changes from those publi
c
ly repor
ted
in
2
our 3
rd
quarter fillings
. Further b
our 3
rd
quarter fillings
. Further balance sheet
improvements are
expected to
be
limited by
the
continuing
COVID
-
19
economic conditions
.
We
encourage
all
investors
and
interested
parties
to
follow
our
progress
routinely
posted
on
our
website
radmaxtech.com
,
and
our
RGUS
listing
on
the
OTC
web
site.
ON
BEHALF
OF
THE
BOARD
OF
DIRECTORS
Regi
U.S.,
Inc.
Paul
W.
Chute
C
EO
,
CFO
CONTACTS:
(509)
474
-
1040,
x
-
101
pchute@radmaxtech.com
7
520
N.
Market
St.
STE
#
10
Spokane,
WA.
99217
-
7800
ABOUT
REGI
U.S.,
INC.
RadMax
Technologies,
Inc.,
the
wholly
owned
subsidiary
of
REGI
U.S.,
Inc.,
is
developing
for
commercialization
multiple
improved
axial
vane
type
rotary
devices
using
our
Patented
RadMax
™
Rotary
Technology.
This
Technology
allows
for
revolutionary
designs
of
lightweight
and
high
efficiency
engines,
compressors
pumps
and
other
devices.
For
more
information,
please
visit
radmaxtech.com
.
READER
ADVISORY
Statements
in
this
press
release
regarding
the
business
of
and
REGI
U.S,
Inc.
(together
the
“Companies’”)
which
are
not
historical
facts
are
"forward
-
looking
statements"
that
involve
risks
and
uncertainties,
including
management's
expectation
on
closing
the
second
tranche
of
the
private
placement,
certain
of
which
are
beyond
the
Companies'
co
ntrol.
There
can
be
no
assurance
that
such
statements
will
prove
accurate,
and
actual
results
and
developments
are
likely
to
differ,
in
some
case
materially,
from
those
expressed
or
implied
by
the
forward
-
looking
statements
contained
in
this
press
release.
Readers
of
this
press
release
are
cautioned
not
to
place
undue
reliance
on
any
such
forward
-
looking
statements.
R EGI U.S., INC. NEWS RELEASE Regi U.S., Inc. Plan of Action Update October 2 9 th , 2020 REGI U.S., Inc. (“REGI” or “RGUS” or "the Company") The Board of Directors, Regi U.S., Inc. and its wh
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