Hollywood, FL (PRWEB) December 5, 2009
Genesis Electronics Group, Inc. (OTCBB:PRCC), http://www.genesiselectronicsgroup.com, announced that it has licensed two patents from the Johns Hopkins University Applied Physics Laboratory pertaining to a self-contained, modular integrated power source that utilizes solar energy to produce electrical current. This power source, due to its structural flexibility, can be adapted to a wide variety of applications--even taking the physical shape of the device to be powered.
Genesis already holds a U.S. patent for a Solar Powered Rechargeable Battery module and the company is completing development of a solar-powered charger for popular, multi-functioned cell phones under the name SunBlazer™. Genesis expects to bring the product to market within the next several months.
Genesis Electronics' licensing agreement for the limited exclusive world-wide rights to the Johns Hopkins University patents also includes the potential for research and development assistance.
The Johns Hopkins University Applied Physics Laboratory, http://www.jhuapl.edu, is one of the most prestigious research and development centers in the world. The facility employs more than 3,000 engineers and scientists, and works closely with the Department of Defense, NASA, other government agencies and approved business partners.
Ed Dillon, President and CEO of Genesis Electronics Group, stated "The acquisition of these valuable patents will serve to further solidify and expand our position in the solar technology field, particularly as that technology relates to use by average consumers. The Johns Hopkins University Applied Physics Laboratory and Genesis Electronics share the goal of bringing meaningful and timely benefits to society by making cutting-edge technology commercially available."
Raymond Purdon, Chairman of Genesis Electronics Group and President of its Genesis Electronics subsidiary, added "As we continue to develop our products and bring them to market it becomes increasingly important to our company and shareholders that we protect and broaden the scope of our technology and its applications. The securing of licenses to patents that compliment our existing technology is an integral component of our competitive stature and corporate growth."
Information about Genesis Electronics and the SunBlazer™ can be found at http://www.genesiselectronics.net.
Forward Looking Statements
Except for historical matters, matters discussed in this release are forward-looking and are made pursuant to the safe harbor provisions of the 1995 Private Securities Litigation Reform Act. Investors are cautioned that these statements reflect numerous assumptions and involve risks and uncertainties that may affect Genesis Electronics Group, Inc., its business and prospects, and cause actual results to differ materially from these statements. Among these factors are Genesis Electronics Group, Inc.'s operations; competition; entry barriers; relationship reliance; technological changes; new systems introduction; vendors pricing; supply of components and software.
In light of risks and uncertainties in these forward-looking statements, they should not be regarded as a representation by Genesis Electronics Group, Inc. or any other person that the projected results, objectives or plans will be achieved. Genesis Electronics Group, Inc. undertakes no obligation to revise or update these statements to reflect events or circumstances after the date hereof.
Ed Dillon, President