Real Paper Displays, Inc.’s Wholly Owned Subsidiary Partners With Absolute Graphic Technologies USA, Inc. to Develop Water Based Air Conditioning System
SANTA ANA, Calif., April 8 /PRNewswire-FirstCall/ — Real Paper Displays, Inc. (Pink Sheets: RPPR) is pleased to announce that the Company’s wholly owned subsidiary, Aqua Star Corporation (“AquaStar”) has signed a joint development agreement with Absolute Graphic Technologies USA, Inc. (“AGT”), a contract engineering and manufacturing enterprise with an expertise in the design and manufacture of state of the art temperature controlled fluidic systems. The two companies have partnered to work collaboratively on the product development of a high efficiency water based air conditioning system.
Under the leadership and direction of AquaStar, AGT will design and build the initial prototypes and beta versions of the system in exchange for contract manufacturing rights and an equity position in Real Paper Displays, Inc.
The system is based upon patented technology developed at Texas A&M University; which has been licensed by AquaStar and is being commercialized into a product. The initial system design is expected to be completed in July 2010. A first installation is projected for November 2010. Production units are expected to be available in standard 5 ton and 3.5 ton units, as well as a 2 ton unit designed for multi-family residential housing applications.
There is a large and growing demand for high-efficiency air conditioning systems in both the residential and light-commercial marketplace, including new construction, replacement, and retrofit segments. In the US there are over 76 million air conditioning units installed in homes and small commercial buildings. As the universal demand for heating and air conditioning has grown, so has the consumption–and cost–of electricity. Residential air conditioners in the United States consume about 5 percent of all the electricity produced in the United States, at a cost of over $11 billion to homeowners. As a result, roughly 150 million tons of carbon dioxide are released into the air each year–an average of about two tons for each home with an air conditioner. Demand in the US for heating, ventilation and air conditioning equipment is forecast to increase 3.2 percent per year to $14.3 billion in 2009.
“We are very excited to be part of the team that is bringing this innovative and environmentally friendly product to market and are anxious to start working on the initial production designs,” stated Steven Barberi, President of Absolute Graphic Technologies USA, Inc. “We look forward to working with AquaStar to achieve commercialization.”
“We look forward to working collaboratively with Absolute Graphic Technologies on the development of our system,” stated Malcolm Lennie, Chairman of Real Paper Displays, Inc. “Their expertise in manufacturing and design will play an essential role in the execution of the final product.”
About Absolute Graphic Technologies USA Inc.
Absolute Graphic Technologies USA Inc. is located in Corona California in a state-of-the-art production facility. AGT considers itself to be a single source solution provider with a very strong emphasis on the service and support segment of the business serving OEM and end use customers throughout the United States and Canada. As a single source solution provider, in addition to systems AGT USA also provide factory trained technicians for non warranty service, support and installations on several well known brands including Grafix North America CTCS and FSMS combination ink temperature control systems, fountain solution management systems together with Farwest Graphic Technologies ink temperature control systems, fountain solution management and related systems along with thermal drying systems.
About Real Paper Displays, Inc.:
Real Paper Displays, Inc. is a holding company which utilizes a unique and established platform to launch new technology enterprises based on world-class university research discoveries. Real Paper Displays provides experienced management to early stage companies, reducing risk and assuring the know-how in launching and growing a new company. In addition to this skilled management team, Real Paper can avail itself of the encyclopedic, informal knowledge of the inventor, his experience and his research team.
Safe Harbor Statement: The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control.
SOURCE Real Paper Displays, Inc.