WASHINGTON, Oct. 15, 2013 /PRNewswire/ -- Xiangtian (USA) Air Power Company, a Delaware Corporation OTCQB Ticker (GOAS), has signed a letter of intent with Shifang City Zhen Lin Fertilizer Co., Ltd. This letter of intent allows Shifang City Zhen Lin Fertilizer Co., Ltd. the ability to purchase air power generation equipment from Sanhe City Luck Sky Electrical Engineering Limited Company (a subsidiary of Xiangtian (USA) Air Power Company.)
The Letter of intent provides for sales of equipment totaling 40 million RMB (Approximately $6.5 Million USD) and will allow for additional sales of equipment at a future date if needed. It is anticipated that this transaction will be completed within 6 months after receiving the proper approvals from the regulators in China.
Luck Sky Group Natural Energy Power System is an new energy Production invention. This system provides energy by utilizing solar energy, wind energy, geothermal energy, tidal energy, water hammer potential energy and all the available natural energy as a raw power. This raw power is then converted into DC power, processed through an ultra -wideband, high-performance power inverter, which is registered in Luck Sky Group independent intellectual property rights list, and outputs stable power in line with national standards. Part of the output electric power is for the power needs of the operation facility, and remaining part will be supplied to the power grid. Any additional electricity will be stored as 20Mpa compressed air. When natural energy is intermittent or during times of equipment maintenance, releasing the compressed air to drive compressed air engines linked with a generator which produces electric power, provide customers an advanced power generation and supply equipment.
Natural energy power system's core technology is "compressed air energy storage power generation." The design of this system is novel and reasonable. Considering the energy structure, it will provide a reliable alternative to the power supply system that mainly based on the fossil fuels.
This natural energy power generation system has been developed through independent research and development by Luck Sky Group, with independent intellectual property rights. Luck Sky Group has filed and received almost 100 patents. Related products are: ultra-wideband voltage power inverter, new structures aerodynamic engine, low-speed aerodynamic generators, new structures isothermal air compressor, natural energy power systems, and the aerodynamic automobile motors, etc.
Contact: Investor Relations
Xiangtian (USA) Air Power Group OTCQB (GOAS)
SOURCE Xiangtian (USA) Air Power Company