Friday, July 5, 2019
Emerging Fintech giant ILOCX has acquired a major stake in E-GetX Inc and its UK counterpart E-GetX Limited.
As part of the acquisition and corporate restructuring, E-GetX Limited now owns all intellectual property, patents, products and formulas to the proprietary Continuous Flow Power (ConFlow) device.
ConFlow PowerTM acts like a battery and looks like a battery but actually is a generator, essentially regenerating its own power using a combination of nanotechnology and the atmosphere. For Due Diligence purposes prior to the closing, the ConFlow device has discharged and recharged itself over 200 times inside ILOCX’s own lab conditions.
Edward Fitzpatrick, CEO of ILOCX said “Combining revolutionary technology with our ILO platform was our number one objective. Allowing early to mid-stage businesses to get access to the capital and the support they need was the focus. We instinctively knew this would lead to a world-changing technology that we could participate in and take to market with a firm and conscious strategy. This is a pinnacle moment for our platform and the entire energy sector.”
The current prototype units have all performed impeccably under various conditions, however, further investigation will be undertaken. ConFlow Power is now ready to commence a series of vigorous and vital testing applications to establish the key components for a full market launch. The manufacturing cost is low, with no harmful components and no need for lithium, or any other mined materials.
The company is in late-stage discussions with a number of groups to sell conditional market-based licenses for the technology in strategic locations, such as Germany and Asia. These agreements will be announced in due course.
ConFlow Power has the potential to revolutionize our known mobile power source marketplace completely.
Conflow Power Group Limited is pleased to confirm the closing of a major agreement to mass manufacture key components
We are very pleased to confirm the conclusion and signing of the agreement for structured contract financing