Pure Energy & WildCharge To Form New Company
Pure Energy Visions Corp., a provider of rechargeable battery products, announced that it has entered into exclusive negotiations for a 120-day period with WildCharge, Inc., a leader in wire-free power technology, to join forces to market, sell, develop and deliver eco-friendly solutions that leverage the convenience of wire-free charging with the economic and environmental benefits of rechargeable battery technologies.
It is anticipated that this will be achieved by forming an equally owned new company to be headquartered in Boulder, Colorado, to which Pure Energy and WildCharge would license their technologies (subject to existing agreements) and transfer certain other assets and liabilities.
The new company would be responsible for the development, commercialization, marketing, and worldwide distribution of both Pure Energy and WildCharge products and technologies. Dennis Grant, CEO of WildCharge, would be chairman and CEO of the new company and lead the team that will drive sales of Pure Energy’s and WildCharge’s existing and soon-to-be released products. It is anticipated that additional employees, particularly in sales and marketing, will be added to support the planned growth. The contemplated transaction is subject to completion of a number of items, including finalizing structure, legal documentation and due diligence, approval of the final form of the transaction by the respective boards of directors of Pure Energy and WildCharge and obtaining any required corporate and third-party consents, including any required approvals from the TSX Venture Exchange.
"Our companies share a unique vision of where wire-free and rechargeable battery technology is headed and strongly believe that through forming this partnership we will become the market leader in this high growth category," said Paul W. Simmonds, Pure Energy’s President and CEO. "This is a tremendous opportunity for Pure Energy and its shareholders, and we are confident that this combination will significantly impact the future of sustainable, portable power."
Dennis Grant, Chairman and CEO of WildCharge, goes on to say, "We are thrilled at the opportunity to join forces with Pure Energy and to create the opportunity to become a global industry leader. Our combined solutions, which independently already hold a superior position in the market, will make this a truly green company focused on developing convenient, cost-effective and environmentally responsible technologies that power our daily lives, at home, where we work and when we are on the go."
Pure Energy states that its advanced formula rechargeable alkaline batteries are the only rechargeable batteries that can be used in any application that uses disposable alkaline batteries. The company says they can be recharged hundreds of times, leading to tremendous cost savings for consumers, less greenhouse gas emissions, and less waste entering landfills compared to throw-away alkaline batteries. Rechargeable alkaline batteries do not contain heavy metals such as cadmium or mercury and offer several performance and cost advantages in a number of original equipment manufacturers’ (OEM) products over other rechargeable batteries, including an industry leading seven-year shelf life – 40 times longer than typical rechargeable NiMH batteries.
WildCharge states that it provides the only commercially available technology that enables licensees to deliver wire-free charging to a variety of devices that require varying amounts of power. From cell phones that require only a few watts of power to laptops that need over a hundred watts, virtually any device that has a rechargeable battery can be powered from a single, contiguous, and non-discriminating charging surface. WildCharge states that its technology has met the industry’s most stringent regulatory and safety standards, including UL, CE, FCC, RoHS, and GSM. WildCharge enables licensees to bring new items to market quickly through its reference design library, which features wire-free products that have been conceived, engineered, tooled and for which a supply chain has been pre-established. Products currently available through the WildCharge reference design library include the WildCharger Pad, gel-skin adapters for numerous Blackberry and soon Apple devices, and universal solutions that work with hundreds of different mobile devices.