LAKE ELSINORE, CA — (Marketwired) — 06/25/13 — IDS Industries (OTCQB: IDST) announced today the conclusion of a $300,000 promissory note with JMJ Financial with an initial tranche of $55,000 funded on June 19, 2013.
The company intends to deploy proceeds in the market introduction of its proprietary integrated battery management system and charge controller for use with renewable energy tied advanced storage systems.
“We recognize the opportunity for the Company lies in delivering safe, reliable and economical energy storage to homes, commercial establishments, and communities globally,” stated Bruce Knoblich, CEO. “The grid-tied energy storage market is in its infancy and the market–s growth is accelerating as the public recognizes the importance of energy storage innovation to the success of renewable energy, grid efficiency and reduced greenhouse gas emissions.”
This round of financing follows the Company–s six month capital program which includes $283,000 from Mr. Knoblich, and $80,000 from a private fund capital.
IDS Industries is a GIIRS-rated designer, developer, manufacturer, and seller of portable renewable electric generators for use by consumers, industry, government, and emergency management relief worldwide as well as a developer of specialized battery management and charge control electronics for lithium iron phosphate and other advanced chemistry batteries. Advantages of renewable over fossil-fuel portable power include lower operational cost, superior reliability, greater sustainability, and expanded utility due to zero exhaust and quiet operation.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
Patrick Gaynes
Growth Capital Partners
(310) 989-5666