Pure Energy Visions Signs MOU with Ecansol Capital
Pure Energy Visions Corp. announced the signing of a Licensing Memorandum of Understanding (MOU) with Encansol Capital Corp. (Encansol)" of Vancouver, BC. Encansol is in the business of developing large format, flat plate Rechargeable Alkaline batteries for a variety of industrial and alternative energy applications.
In the License MOU, EnCanSol will provide PEVC with an exclusive license for the manufacturing and distribution of cylindrical Rechargeable Alkaline (RAM) batteries in China through its joint venture previously announced between PEVC and Linyi City Huatai Battery Industrial Corp (Huatai). The license is subject to minimum royalty payments and is conditional on PEVC satisfying certain requirements as detailed in the joint venture agreement signed with Huatai. As part of this agreement, there will be an equity exchange between PEVC and Encansol in the company’s respective common shares.
"We are extremely pleased with this agreement with Encansol", stated Paul W. Simmonds, CEO of PEVC. "We are confident that this arrangement will create better shareholder value and our share position in Encansol should greatly benefit our shareholders ". EnCanSol’s Rechargeable Alkaline flat plate batteries target the multi-billion backup power, energy storage, and car battery markets. These batteries will achieve the same performance as comparable lead acid batteries, contain no toxic metals at one third the size and weight. More than 300 lead acid battery manufacturing plants have been shuttered in China over the past year due to environmental concerns. Target applications for flat plate batteries include back up power for telecommunications, wind and solar storage, car batteries, UPS and others.
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