EDMONTON, ALBERTA--(Marketwired - Sep 2, 2015) - SUNVAULT ENERGY INC. ("Sunvault") ("the Company") (SVLT) and the EDISON POWER COMPANY a Delaware Corporation, announced today that the two corporations are combining their knowledge, experience and technology to create a revolutionary Electric Supercar that will be powered by a Graphene Energy Storage device created by the companies. The car will also have a simple to use Graphene integrated hydrogen fuel cell to provide an extra level of confidence to offset any potential range anxiety. "The fuel cell will be powered by an on demand Hydrogen generation unit built into the car and will only require water" commented Dr. Robert Murray-Smith, Director of Sunvault Energy. "With our Energy Storage Device, reliability and peace of mind are wrapped in one design" added Gary Monaghan, CEO of Sunvault Energy.
Edison Power and SunVault Energy have agreed to build an Electric Supercar to showcase the Graphene Energy Storage System. The car will be named the "Edison Electron One" and will be built by the newly incorporated Edison Motor Cars. The companies will be collaborating with MK Technologies Ltd. (http://www.mktechnologies.com/) in the design and creation of this spectacular automobile.
The car's speed and economy will come from a uniquely designed power system of a electric drive unit for each wheel, this will give the Edison Electron One unequalled traction control of close to 1000 foot pounds of torque (1355 Newton meters), which is almost double the 560 foot pounds of a Ferrari 488 GTB, and a third more than that of the Tesla P85D which is rated at 713 foot pounds and slightly more than the Porsche 918 Spyder hybrid which is at 980 foot pounds (1328 Newton meter). The car is expected to be ready by the first quarter of 2016 and is expected to do zero to sixty in 2.0 to 2.2 seconds and be rechargeable in 5 minutes, subject to power availability at charging stations. The Company believes a whole industry will be created specifically for the charging of electric vehicles and that its storage system can facilitate this new industry. As far as distance, the "Edison Electron One" will perform to the same level of other competitive electric cars with the exception of being able to get much more of a charge in 5 minutes. The most important safety feature is that there will be no risk of fire or explosion associated to Lithium Ion batteries.
Edison Motor Cars will be making these Electric Supercar automobiles available to customers on a special order basis only. The Company will be gathering pre-order information to prioritize shipments to those interested auto enthusiasts. Pre-order information should include contact names, addresses, emails etc can be mailed to Edison Motor Cars c/o - Sunvault Energy Inc. - Suite 200 - 10703 - 181 Street N.W. Edmonton, Alta T5S 1N3 or emailed to [email protected].
"We are excited to be producing this truly revolutionary automobile that will put our Graphene Energy Storage Device front and centre on the world stage at the simple turn of a key", stated Sunvault Energy Chief Executive Officer Gary Monaghan. "The Electron One will not only be able to challenge any vehicle in performance, but will also be fully flexible, functional and convenient just as a fuel filled vehicle is today", he continued.
Sunvault Energy and Edison Power will be showcasing the Graphene Energy Storage Device together at The Battery Show 2015, at Novi, Detroit, Michigan; Taking place this September 15-17. This show is the premier showcase of the latest advanced battery technology.
About Sunvault Energy Inc:
Sunvault Energy Inc. is committed to bringing cost effective energy generation and energy storage to the solar industry through a seamless and novel integration of energy generation and storage. This technical approach is a first and has the potential to enable the lowest overall system cost at maximum efficiency. SunVault has further diversified by acquiring companies or assets that are immediately accretive and that will facilitate into the owning of quality non-cyclical assets.
Notice Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the successful completion of a revolutionary electric supercar to be powered by a graphene energy storage device, that it will have 1000 foot pounds of torque (1355 Newton meters) or will do zero to sixty in 2.0 to 2.2 seconds and be rechargeable in 5 minutes, that the car is expected to be ready by the first quarter of 2016, that a whole industry will be created specifically for the charging of electric vehicles and that its storage system can facilitate this new industry, any distance claims regarding the "Edison Electron One" or that it will perform to the same level of other competitive electric cars, and in general the eventual attributes, characteristics and timing for completion of the graphene energy storage device and the Edison Electron One vehicle.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, general economic conditions, our ability to raise sufficient capital and the ongoing development of the above noted technology and any expected results. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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