The agreement establishes a relationship for cooperative research and development for creating new power storage solutions for the Electric Vehicle (EV) industry. Furthermore, potential creations include use in Principal’s fleet-focused heavy electric vehicle conversions and hybrid-electric powertrains. These applications require unique capabilities supporting continuous operation with long charging cycles..requirements that have been underserved by existing battery technologies.
The relationship creates significant benefits for both parties; it allows that potential applications for the solutions created include use in Principal's Solar’s client and portfolio company products. In addition, Triad Pro opens new avenues of exposure for the company’s products.
“We stand to gain exposure to new opportunities and clients as we work with Principal to deliver our next-generation EV energy storage solution,” said
"We believe Triad's eCell technology offers tremendous potential as a power storage solution for heavy electric vehicles," said
The major advantage of Triad Pro's eCell lies in its solid-state technology, which allows electric vehicles to accept a charge at any rate (limited only by network supply), thereby enabling ultra-rapid charge cycles that increase productivity by keeping heavy electric vehicles on the road. Another key eCell advantage is the absence of typical battery chemical solutions that degrade with repeated charge-discharge cycles, giving the Triad Pro eCell a lifespan of over 30,000 cycles, thereby greatly reducing ongoing maintenance costs for heavy EV owners.
In March, Triad Pro updated its shareholders on the progress of the ongoing EEL Diesel Hybrid Genset field tests. Following successful independent validation testing by
About
For further information, please visit Triad Pro’s website at https://triadproinc.com.
About Principal Solar
Principal Solar is a strategic investor in organizations and technologies that support next-generation opportunities in traditional, renewable, and clean energy sectors as well as an acquirer and operator of undervalued petroleum-producing properties.
For further information, please visit the Company’s website at www.pswwenergy.com.
FORWARD-LOOKING STATEMENTS
The statements contained in this release that are not historical facts are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "could," "should," "expect," "plan," "project," "intend," "anticipate," "believe," "estimate," "predict," "potential," "pursuant," "target," "continue," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding TPII's plans, objectives, future opportunities for TPII's services and products, future financial performance and operating results and any other statements regarding TPII's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are not guarantees of future performance and are subject to numerous risks, uncertainties, and assumptions, many of which are beyond TPII's control, and which could cause actual results to differ materially from the results expressed or implied by the statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, and include, without limitation, results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending; global economic conditions; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and integration of acquisitions; product liability; cybersecurity risk; anti-takeover measures in our charter documents; and, the uncertainties created by the ongoing outbreak of a respiratory illness caused by the 2019 novel coronavirus that was recently named by the
Investor Relations Contact:
info@triadpro.com
714.790.3662
Principal Solar Contact
Chairman and Chief Executive Officer
kt@pswwenergy.com
214.885.0032
SOURCE:
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7313e3c7-5a46-41cc-a745-030b5938bf3a
Source:
2022 GlobeNewswire, Inc., source