Burlington, ON, May 19, 2020- PYBX Hydro Power Technologies, Inc., (OTC PINK: PYBX) is accelerating development internationally with its patent pending Hammer1 Technology. The enhanced impact turbine power production is accomplished by increasing jet projectile velocities through the Hammer1 Gun Valve. The Hammer1 Gun Valve is the device used to start and stop the fluid movement, which creates the additional jet velocity, resulting in improved kinetic energy, with less effort, resulting in more energy per operating dollar.
Renewable Energy World, in a recent April 2020 update, reported during the Covid-19 crisis, https://www.renewableenergyworld.com/2020/04/06/renewables-achieve-clean-energy-record-as-covid-19-hits-demand/, “Renewable” share of total clean energy generation in Europe topped 60% for the first time, in the first three months of the year”. In addition, the report stated, hydropower was the second largest source of renewable generation in the quarter, producing 126.1 TWh, with Norway providing the largest share of this market. This figure represents a 20% increase compared to Q1 2019, but is lower than levels seen in 2018.
In contrast, generation from nuclear plants fell to 192 TWh in the first three months of 2020 – the lowest Q1 figure in the last five years and down from the 219.6 TWh produced in Q1 2019
The experienced engineers and executives at Hydro Power Technologies predict significant demand for hydro power generation and for efficiencies in renewable energy as energy demand increases, which will result in significant demand for its products and services.
Hydro Power Technologies President Michael Shamber, reports there have been significant milestones which have been accomplished despite the difficulties being experienced in the majority of the world markets, largely due to the COVID virus pandemic lockdown initiated by most countries. .
Since February 2020, the Company retained Matthew McMurdo, Esquire, NYC, as SEC Compliance Counsel. It completed all requisite filings with OTC Markets, including Mr. McMurdo’s Legal Letter and obtained current Pink Tier status with OTC Markets, plus the Company’s shareholders approved the election of new directors and appointed new officers.. Also in February 2020, DTCC approved the Company for FAST/DWAC/DRS Status, which enables Electronic Stock Transmission.
On March 16, 2020, the Share Exchange Agreement between Playbox and Hyro Power Technologies was finalized and executed by the parties for the asset purchase of Hydro Power Technologies, Inc. and Playbox(US), Inc., and made effective December 31, 2019.
On April 8, 2020, the Company amended its Articles of Incorporation and changed its name to: Hydro Power Technologies, Inc.
On May 15, 2020, the Company updated its corporate website.
Going forward, our official Twitter account is https://twitter.com/HydroPowerTech .
On behalf of the Board
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