(Wesley Chapel, FL: April 23, 2012) (OTCQB:WARM) Pursuant to shareholder approval received on March 28, 2012, FINRA, the Financial Industry Regulatory Authority, approved, on April 20, 2012, Z3 Enterprises, Inc. name change to HPEV, Inc. to be made effective today, April 23, 2012. The new symbol for trading in the Company’s shares changes from “BIBB” to “WARM” (OTCQB:WARM), in reference to the Company’s innovative thermal technology platform.
HPEV’s patented thermal dispersion technology platform enables manufacturers of motors, generators and other commercial engineering applications to dramatically reduce both manufacturing costs and costs to the end user. The Company’s CEO, Tim Hassett noted, “Management believes this technology represents a significant shift in the cost structure and design implementation of a market that exceeds $90 billion worldwide.”
HPEV’s technology improves a motor’s or generator’s performance by adding 25 to 50% more power density above those of similar size and design. As a result, manufacturers are able to reduce the motor size and, consequently, reduce manufacturing costs by as much as 25% while still delivering the same output from the motor or generator. This represents a significant advantage for manufacturers in the marketplace. More than half of all electricity produced worldwide is consumed by electric motors and generators. The potential benefits are immense and the environmental impact cannot be overstated.
HPEV’s thermal technologies are maintenance-free, enabling manufacturers to reduce costs on an array of associated cooling mechanisms. The Company’s patent and patent-pending portfolio includes applications for generators, batteries, bearings, pumps, compressors and fans.
Additionally, HPEV cooling technologies have a unique application in high performance brakes, rotors and calipers and management believes that this application will lengthen component life as well as reduce heat-related failures. Management also expects that the Company’s technology has the potential to be implemented industry-wide in several key motor vehicle components including: batteries, axles, pistons, engine hot spots, wet disc brakes, transmissions, PTO (power takeoff) gearing and motor control.
About HPEV, Inc.
HPEV, Inc. is an intellectual property and product development company with expertise in thermal dispersion technologies and their application to various product platforms. The Company is currently commercializing its patented thermal technology and has additional patents-pending for various applications of its proprietary heat removal technologies. The markets that will be addressed by these technologies include myriad industries such as pumps, fans, compressors, batteries, motors, generators and bearings. In addition, management believes that the Company’s thermal technology will eventually be implemented in almost all components of the motor vehicle market including: motor control, battery, axle and brakes.
Safe Harbor Statement.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are based on plans and expectations of management and are subject to uncertainties and risks that could affect the Company’s plans and expectations, as well as results of operations and financial condition. A listing of risk factors that may affect the Company’s business prospects and cause results to differ from those described in the forward-looking statements can be found in Company reports and documents filed with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.