Real Logic Inc., a company that specializes in alternative transportation vehicles, has come to agreement on terms for a Real Logic subsidiary with a company developing a new generation of commercial wind turbines with optional hydrogen production and storage components.
This company has completed design, marketing and manufacture of a new wind turbine system and will be transferring into the new subsidiary the exclusive rights for the intellectual property for the system, including patents and patents pending, proprietary systems and improved wind turbine design.
The company's pro forma summary projections indicate that revenues will be generated from equipment sales, development operations and maintenance services and wind farm revenues. Real Logic will be the majority owner of the new subsidiary.
‘We are pleased to have such an outstanding product for our clean energy division whose mission, compatible to ours, is to serve humanity and the environment by developing, constructing, marketing and operating sustainable energy technologies comprised of existing and emerging wind, hydrogen and other alternative systems to address the needs of the global community and reduce reliance on environmentally damaging fossil fuels,’ says Michael Posner, president of Real Logic.