Goldstar North American Mining, Inc. Signs Binding Agreement To Acquire The Innovative EndGen Generator Power Generation Tech...
May 20 2015 - 9:00AM
Access Wire
PHOENIX, AZ / ACCESSWIRE / May 20, 2015 /
GoldStar North American Mining, Inc. (OTCMKTS:GDSR) as part of its
ongoing transition to GoldStar Technologies, Inc., announced today
its commercial and contractual agreement to acquire EndGen power
generation technology.
The EndGen Generator is a unique and proprietary design,
utilizing ultra strong rare earth permanent magnets, in combination
with advanced design criteria and specialized core configuration.
The resulting magnetic fields created in the EndGen produce power
generation results far exceeding current market performance and
efficiency standards. The EndGen Generator produces no heat while
operating at efficiencies in the high 90%+ range, which provides
enormous innovation and efficiency at significantly reduced
costs.
CEO Matthew D Hay commented, "Efficiencies in this range are at
the most cutting edge of technology in this space, however, the
fact that this generator produces no heat is truly paradigm
shifting. We are unaware of any other generator on the market that
produces no heat while operating. No heat means far less wear and
tear on components. It means, by default, that EndGen efficiencies
are greater, as heat is the single biggest efficiency loss in all
electro-mechanical devices. It means no requirement for costly
cooling fans, no need for heavy metal housings, which are typically
seen in this space, to dissipate heat. This means far less weight,
cost, efficiencies of transport cost, etc. This generator can be
powered by standard fossil fuel motors or by Mother Nature, and
anything in between, producing clean and ultra efficient power to
meet the ever growing needs of our world."
The current 1.5 kW EndGen Generator has been third party
validated and is scalable, thus allowing the engagement of multiple
markets in the power generation space. This validation came in 2012
and the EndGen has been improved since that time. At the time of
the test, the recorded efficiency was 93.6%, inclusive of the 'Cost
to Run' the test. The 'Cost to Run' is the power required, or the
efficiency lost, due to the input drive source (in the case of this
test, an electric motor), various gauges, meters and testing and
monitoring equipment, transducers, etc. All these components reduce
the overall output efficiency and create a final result that is
recorded as less than the generator itself can create. With the
latest improvements and the 'Cost to Run' removed from the
equation, the true efficiency of the EndGen Generator is 99.9%.
The agreements between GSTI and the technology owner include the
validated 1.5 kW EndGen Generator as well as all future iterations,
sizes and applications of the generator technology.
The global power generation market is massive and takes many
forms, such as fossil fuel driven generation and renewable
generation. All markets typically employ generators to convert
these sources into electricity. The EndGen Generator has
application to virtually every market, due to its superior
efficiencies and the absence of heat. "The EndGen Technology is
suitable to multiple categories of use due to its size and light
weight, scalability, configuration and capability. The technology
is functional and adaptable in support to recreational devices,
home connections, schools, churches, waste management plants, power
plants, chemical facilities, refineries, mineral processing and any
and all facilities requiring electricity. This technology is
engineered for productivity," says CEO Matthew D Hay.
In addition to furthering its core fine gold extraction business
with scaling activities, GDSR is leveraging its technology insight
and expertise - realizing its advanced GoldStar Technologies, Inc.
vision and transition with acquisition of the EndGen
technology.
Matthew D. Hay, CEO stated "The acquisition of the EndGen power
generation technology represents our most significant milestone to
date and transforms our mandate from fine gold extraction company
to an enhanced technology product and services corporation,
providing leading edge technologies to clients that reduces their
costs, making them more competitive. We are excited to achieve this
new level of capability in support of our vision. In addition, we
are very pleased to further our environmental responsibility and
stewardship to a stronger environmental and commercial
sustainability for our customers, partners, shareholders and
community."
The terms of the commercial and contractual agreement for the
acquisition of the EndGen power generation technology will be
disclosed on our website at a future date.
Please visit the website to view the EndGen Generator technology
information at www.goldstarmining.com.
About GoldStar North American Mining, Inc.
Phoenix, Arizona-based GoldStar Technologies, Inc. is a
technology provider company who also own land and carry out fine
precious metals extraction operations on prime gold-bearing
properties in North America. In addition GoldStar Technologies,
Inc. is a technology provider to the mining, power, food
preparation, health care, and engineering sectors. The company's
legal team continues its process of facilitating a proposed name
change to Gold Star Technologies Inc. (GSTI).
Safe Harbor
Statements released by GoldStar that are not purely historical
are forward-looking within the meaning of the "Safe Harbor"
provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding the company's expectations, hopes,
intentions, and strategies for the future. Investors are cautioned
that forward-looking statements involve risk and uncertainties that
may affect the company's business prospects and performance. The
company's actual results could differ materially from those in such
forward-looking statements. Risk factors include but are not
limited to general economic, competitive, governmental, and
technological factors. The company does not undertake any
responsibility to update the forward-looking statements contained
in this release.
Contact:
GoldStar Technologies, Inc.
Tel: 602-772-3968
E: IR@goldstarmining.com
SOURCE: GoldStar Technologies, Inc.
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