Elektros Inc. Secures Patent Pending For Revolutionary Battery Charging Technology - Yahoo Finance

Plans to begin marketing efforts of patent pending technology to major manufacturers of electric vehicles

SUNNY ISLES BEACH, Fla., Nov. 01, 2021 (GLOBE NEWSWIRE) -- Elektros, Inc. (OTC: ELEK) announced today it has licensed a patent pending for a self-re-charging battery assembly and multi-port charging assembly. The patent pending pertains to a device application for United States Letters Patent was filed on October 27, 2021 in the United States Patent and Trademark Office.

Elektros will be targeting manufacturers of electric vehicles manufacturers, such as Waymo, Envoy, Lucid Motors, Revel, NIO, and Nikola with its patent pending technology, as well as manufacturers of alternative fuel vehicles. The Company plans to begin operations to design, develop and manufacture and sell fully electric sport utility vehicles and energy generation and storage systems.

Within the electric-based vehicle segment, there are three primary means of powertrain electrification which will differentiate various competitors to our planned electric sports utility vehicle, as well as potential users of our patent pending battery charging technology.

• Electric Vehicles are vehicles powered completely by a single on-board energy storage system (battery pack or fuel cell) which is refueled directly from an electricity source.

• Plug-in Hybrid Vehicles are vehicles powered by both a battery pack with an electric motor and an internal combustion engine which can be refueled both with traditional petroleum fuels for the engine and electricity for the battery pack. The internal combustion engine can either work in parallel with the electric motor to power the wheels, such as in a parallel plug-in hybrid vehicle, or be used only to recharge the battery, such as in a series plug-in hybrid vehicle like the Chevrolet Volt.

• Hybrid Electric Vehicles are vehicles powered by both a battery pack with an electric motor and an internal combustion engine but which can only be refueled with traditional petroleum fuels as the battery pack is charged via regenerative braking, such as used in a hybrid electric vehicle like the Toyota Prius.
  

Shlomo Bleier, CEO of Elektros, Inc. said, “This achievement is the first of many meaningful milestones that will add a secure foundation to build our sustainable competitive advantage. This IP allows us to protect our assets globally and advance towards commercialization.” Mr. Bleier continued, “We believe this technology could be a game changer for the electric vehicle industry. We plan to not only include it in our own designs, but aggressively market the technology to the major electric vehicle companies, as well.”

About Elektros Inc.

Elektros is an American Electric Vehicle company that innovates mobility solutions for consumers and businesses. The automotive landscape faces existential disruption over the next decade to reach carbon neutrality. Elektros addresses this paradigm shift with mobility technologies that support sustainability for a transformative user experience. Elektros aims to unveil a compelling and completely new Electric Vehicle experience to consumers beginning as early as 2023. The company plans a product unveiling in early 2022.

Cautionary Language Concerning Forward-Looking Statements

This release contains "forward-looking statements" that include information relating to future events and future financial and operating performance. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential," and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Elektros, Inc's products, the introduction of new products, the Company's ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company's liquidity and financial strength to support its growth, and other information that may be detailed from time-to-time in Elektros Inc's filings with the United States Securities and Exchange Commission. Examples of such forward-looking statements in this release include statements regarding future sales, costs and market acceptance of products as well as regulatory actions at the State or Federal level. For a more detailed description of the risk factors and uncertainties affecting Elektros Inc. please refer to the Company's Securities and Exchange Commission filings, which are available at www.sec.gov. Elektros, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact: Electros, Inc.

Investor Relations and Media Inquiries

Gabe Rodriguez

Email: erelationsgroup@gmail.com

Phone: (623) 261-9046

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Elektros Inc. Secures Patent Pending For Revolutionary Battery Charging Technology - Yahoo Finance
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