TUALATIN, Ore., Jan. 26 /PRNewswire-FirstCall/ -- Waytronx, Inc. (OTC Bulletin Board: WYNX), a platform company dedicated to the acquisition, development, and commercialization of new, innovative technologies, today announced that it has reached an agreement with British-based Ingenion Design Ltd. ("Ingenion") to develop and build its second generation Gas Quality Inferential Measurement Device (GasPT2).
The GasPT2, designed by GL Industrial Services ("GL") and recently licensed worldwide and exclusively to Waytronx, is a low cost solution to measuring gas quality. It can be connected to a natural gas system to provide a fast, accurate, close to real time measurement of the gas physical properties, such as thermal conductivity, speed of sound and carbon dioxide content. From these measurements it infers an effective gas mixture comprising four components: methane, propane, nitrogen, and measured carbon dioxide and then uses ISO6976 to calculate the gas quality characteristics of calorific value (CV), Wobbe index (WI), relative density (RD), and compression factor (Z).
This new relationship between Ingenion and Waytronx allows for final development and manufacturing of the GasPT2 by the company that has been producing the original version of the device for several years.
"Developing a relationship with Ingenion was critical to our strategy of rapidly introducing this exciting technology into the natural gas market," explained Waytronx President & CEO, William Clough. "Use of the well respected and internationally recognized services of an industry leading manufacturer like Ingenion, coupled with our previously announced relationship with GL, guarantees the acceptance of this technology into the rapidly growing natural gas market," Clough continued.
As manufacturer of the previous version of the GasPT, Ingenion has already produced the device for such industry leaders as BP Wytch Farm; BP Coryton; CTS; Niigata; Osaka Gas; Tokyo Gas; Yanmer Gas; Owens Corning Fiberglass; Corus; Perenco Bacton; British Gas Isle of Grain Facility; ExxonMobil South Hook Facility; GE; and others.
Ingenion is a fully certified ISO9001:2000 company, approved to manufacture electronic equipment for industrial, laboratory, telecommunications, and biomedical industries, including Intrinsically Safe equipment covered by the ATEX directive. Ingenion offers an extensive range of solutions including hardware and software designs specifically for Hazardous Areas (ATEX certified product) such as those found in the natural gas industry. Ingenion prides itself on producing high quality products for use in extreme environments as evidenced by its ATEX and ISO certifications.
Peter Dyke, Ingenion's Co-Founder and Managing Director stated, "We are quite excited to finalize our relationship with Waytronx. We offer our customers a complete 'one-stop shop' turnkey solution, taking the initial concept through the design process, EMC testing, prototyping, and finally into production where we then turn out 'boxed' products ready to deliver."
"Our previous experience in manufacturing the original version of the GasPT device for GL, including BASEEFA certification, will enable us to avoid the pitfalls normally associated with 'new' technology in the natural gas industry," explained Dyke.
"Waytronx relationship with GL and Ingenion continues to demonstrate our commitment to partner with the 'best of breed,' world-class companies in order to acquire, develop, and commercialize leading edge technology designed to grow our business, while enhancing and increasing shareholder value. The GasPT2 device is a cornerstone for our continued growth into 2010 and beyond," concluded Clough.
About Waytronx, Inc.
Waytronx, Inc. has pioneered and is developing innovative thermal management solutions capable of revolutionizing the semiconductor, solar and electronic packaging industries, among others, utilizing its patented WayCool™/WayFast™ hybrid mesh architecture. In addition, through its acquisition of CUI in May 2008, Waytronx has developed the infrastructure, expertise, and platform necessary to acquire, develop, and commercialize new, innovative technologies. Waytronx changed its name from OnScreen Technologies in December 2007. For more information, please visit www.waytronx.com.
About CUI, Inc.
CUI, Inc. is a solutions provider of electromechanical components and industrial controls for OEM manufacturing. Since its inception in 1989, CUI has been delivering quality products, extensive application solutions, and superior personal service. CUI's solid customer commitment and honest corporate message are a hallmark in the industry. CUI is a wholly-owned subsidiary of Waytronx, Inc. For more information, please visit www.cui.com.
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information with respect to these and other factors, which could materially affect the company and its operations, are included in certain forms the company has filed with the Securities and Exchange Commission.
WayCool, WayFast, Waytronx and OnScreen are trademarks of Waytronx, Inc. Other names and brands are the property of their respective owners.
SOURCE Waytronx, Inc.