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GMC Holding Corp. Announces Alternative Energy Update

GMC Holding Corp. announced today results of internal testing and independent verification of the company’s high- efficiency electromagnetic pulse motor-generator, based upon the Company’s proprietary technology, coined REMAT(TM), an acronym for Rare Earth Magnetic Amplification Technology(TM), a trademark also owned by GMC. GMC is proud to unveil the latest embodiment of its REMAT(TM) system, comprising a unique and highly efficient design. Tests have confirmed that the Company’s design team has brought the earth’s energy full circle. The potential value of the Company’s technological achievement is enormous. The REMAT(TM) system can be built to any size and output range, with obvious applications wherever motors are used. More importantly, larger generators utilizing the Company’s REMAT(TM) system will be able to power individual homes, businesses, vehicles, etc. REMAT(TM) will contribute much needed energy to power the grids of the United States and eventually the world at a cost and efficiency heretofore not seen. GMC’s aim is to utilize the REMAT(TM) system to minimize the world’s reliance upon nuclear and fossil fuels for the production of energy. The REMAT(TM) system contains proprietary circuitry that captures a significant amount of back EMF (electromagnetic flux) that is produced during the motor’s operation. By harnessing this otherwise […]

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GreenShift Announces Debt Reduction Plan

GreenShift Corporation (OTC Bulletin Board: GSHF – News) today announced that it has received a commitment from its chairman and chief executive officer, Kevin Kreisler, for a capital contribution of $100,000 to reduce GreenShift’s debt. Under the terms of the commitment, GreenShift will receive a capital contribution of $100,000 in July 2005 that must be applied to the reduction of GreenShift’s equity-based convertible debentures. Mr. Kreisler will receive no additional equity or debt in return for the investment. “GreenShift’s plan is to reduce as much as possible of its convertible debentures out of its cash flows and with the proceeds of its investments,” said Kevin Kreisler, GreenShift’s chairman and chief executive officer. “We do not expect to realize gains on some of our investments until later this year and we are not expecting to produce any meaningful cash flows until 2006. Our plan in the meantime is to manage our cost of capital to minimize dilution as much as possible as we develop and support our portfolio companies and complete strategic investments.” “I believe very strongly in our mission and I am committed to supporting it in any way I can,” continued Kreisler. “Given my own majority equity stake in […]

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Ballard Signs Agreement to Sell German Subsidiary to DaimlerChrysler & Ford

Ballard Power Systems Inc. (TSX:BLD; NASDAQ:BLDP), DaimlerChrysler AG, and Ford Motor Company have signed an agreement for the previously announced sale of Ballard’s German subsidiary, Ballard Power Systems AG (“BPSAG”), to DaimlerChrysler and Ford. “Completing this sale will have four key benefits to Ballard,” said Dennis Campbell, Ballard’s President and Chief Executive Officer. “First, it provides immediate cash benefit to Ballard with recovery of at least USD$20 million in expenses incurred since August 2004 and a reduction in annual cash consumption of approximately USD$25 million. Second, our committed and outstanding share capital is reduced by 14 per cent, on a fully diluted basis. Third, it initiates the Fourth Alliance Agreement and the next-generation development agreements with our Alliance Partners, Ford and DaimlerChrysler, under which our partners will fund up to USD$59 million for the development of our next generation vehicular fuel cell and electric drive system. Finally, by divesting BPSAG to our Alliance Partners, we can focus on our core competency, fuel cell development, and on reaching the targets outlined in our Technology ‘Road Map’.” The transaction is subject to approval by Ballard’s shareholders at a Special Meeting of Shareholders to be held in Vancouver on August 29, 2005. The […]

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