VANCOUVER, British Columbia and LISBON, Portugal, Sept. 14, 2022 (GLOBE NEWSWIRE) — TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF) (“TUGA Innovations,” or the “Company”), a developer of options for city mobility challenges with the TUGA, a brand new sort of electrical automobile (“EV”), is happy to announce it has entered right into a non-binding letter of intent with air purification specialist Rensair LLC (“Rensair”) relating to a possible industrial relationship to combine air high quality expertise into the TUGA product line.
Founded in May 2020 by Danish twins Christian and Frederik Hendriksen, Rensair is headquartered in London with operations within the UK, Europe, USA, and Asia. The firm’s distinctive mixture of high-efficiency particulate air (HEPA) and ultraviolet C (UVC) expertise was initially confirmed within the Scandinavian healthcare sector and refined over 20 years. Applications lengthen throughout quite a few industries, from hospitals, care properties, dental practices, and places of work, to gyms, leisure venues, stores, and now into the automotive sector. To-date, Rensair has delivered models to a complete of 40 international locations on 5 completely different continents with over 800 prospects together with CBRE, Disney, Morgan Stanley, PepsiCo, SNCF, and the UK National Health Service (NHS). Find out extra at https://rensair.com/.
If the Company and Rensair pursue a collaboration, the Company anticipates it will embrace Rensair growing a selected environmental management unit for the TUGA automobile to purify, clear and monitor air high quality contained in the automobile. This contains filtering and destroying pathogens & natural compounds comparable to COVID viruses.
Frederik Hendriksen, Co-Founder of Rensair notes, “We are thrilled with the possible opportunity to work with TUGA Innovations to develop a new standard for air quality within urban mobility. Like in buildings, the air quality inside vehicles is substantially worse than the outside air and we share TUGA Innovations’ vision in creating a safer and healthier commute for everyone.”
César Barbosa, VP of TUGA Innovations states, “We define ourselves as not just a vehicle developer but as a solution provider for urban mobility difficulties, and in this context having clean air inside our TUGAs makes so much sense. Not just transportation, but also as a health solution while getting from point A to point B.”
The proposed introduction of the Rensair expertise would see the supply of hospital high quality air for the TUGA driver and passenger, all whereas monitoring air high quality inside and out of doors. The advantages to the occupants are obvious: whereas commuting in city visitors, a daily supply of air air pollution, air quality control contained in the TUGA will assist present situational consciousness of exterior situations whereas providing a more healthy strategy to transit all through congested metropolis centres.
John Hagie, TUGA Innovations CEO says, “Innovation, quality and collaboration are our key company values, and nothing reflects them better than the nature of the proposed relationship with Rensair. Innovation is essential to our approach towards passenger quality of life, and we are scrupulous about keeping people in a TUGA safe, in all definitions of the term. A collaboration with Rensair could enhance our solution to urban mobility as an added value opportunity which is great for the public, our Company, and shareholders alike.”
On behalf of the Board of Directors,
Sincerely,
~John Hagie~
John Hagie
Chief Executive Officer & Director
TUGA Innovations, Inc.
As a part of the Company’s disclosure obligations as a public issuer, ongoing monetary and materials filings will be discovered beneath the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com. We invite the general public to go to our web site at www.tugainnovations.com and to enroll to our “news alerts” to be suggested of future information and occasions. Please watch our video which is now out there on the web site, and observe us on Instagram, Twitter, and LinkedIn.
About TUGA Innovations, Inc. (CSE: TUGA) (FRA: DQ5) (OTC: TUGAF)
TUGA Innovations is a development-stage electrical automobile firm endeavor the conception, design, and manufacturing of specialised EVs to enhance the city mobility expertise. The Company is seeking to cut back city mobility difficulties by growing a family of three-wheeled, absolutely electrical fore-and-aft 2-seat autos. The automobile is not any wider than a motorbike for agility and gives a patent pending increasing rear axle for high-speed stability together with a patent pending expandable chassis designed for passenger consolation. The automobile will supply superior connectivity expertise to maximise security, efficiency, environmental influence, consolation, upkeep, and navigation. The TUGA automobile is being designed to ship an estimated 160 km vary, have an estimated high pace of 140km/hour with the comforts of a automobile, and with extra safety than a motorbike in an interchangeable multi-body, multi-function platform. Find out extra at: https://tugainnovations.com/, watch our video, and observe us on Instagram, Twitter, and LinkedIn.
For additional data, please contact:
TUGA Investor Relations
Tel: +1 415.799.7911
Email: [email protected]
Forward-Looking Statement
This information launch comprises statements and knowledge that, to the extent that they don’t seem to be historic truth, might represent “forward-looking information” inside the which means of relevant securities laws. Forward-looking data might embrace monetary and different projections, in addition to statements relating to future plans, aims, or financial efficiency, or the idea underlying any of the foregoing. In some instances, forward-looking statements will be recognized by phrases comparable to “aim”, “aims to”, “may”, “would”, “could”, “will”, “will be” “likely”, “expected”, “anticipates”, “proposed”, “believe”, “intend”, “plan”, “forecast”, “project”, “estimate”, “outlook”, “hope”, “the potential to” or the unfavourable thereof or different comparable expressions regarding issues that aren’t historic info. Examples of such statements embrace, however aren’t restricted to, statements with respect to a possible industrial relationship between the Company and Rensair to combine air high quality expertise into the TUGA product line; Rensair growing a selected setting management unit for the TUGA automobile to purify, clear and monitor air high quality contained in the automobile which incorporates filtering and destroying pathogens & natural compounds comparable to COVID viruses; the Company and Rensair growing a brand new customary for air high quality inside city mobility; Rensair expertise offering hospital high quality air for the TUGA driver and passenger and monitoring air high quality inside and out of doors, and the advantages derived therefrom; a collaboration with Rensair enhancing the Company’s answer to city mobility as an added worth alternative being nice for the general public, the Company, and shareholders alike; the Company addressing challenges confronted when driving in, between, and round city centres and metropolitan areas; the Company’s commercialization of its automotive ideas; the width of the automobile, the expanded rear axle function of the automobile, the superior connectivity options of the automobile and anticipated advantages, the km vary and high pace of the automobile, and the protection, efficiency, and luxury provided by the automobile.
Forward-looking data relies on the assumptions, estimates, evaluation, and opinions of administration made in gentle of its expertise and its notion of tendencies, present situations and anticipated developments, in addition to different components that administration believes to be related and cheap within the circumstances on the date that such statements are made, however which can show to be incorrect. The materials components and assumptions used to develop the forward-looking data contained on this information launch embrace, however aren’t restricted to, key personnel and certified workers persevering with their involvement with the Company; the Company’s potential to safe further financing on cheap phrases; the aggressive situations of the industries during which the Company operates; and legal guidelines and any amendments thereto relevant to the Company.
Forward-looking data entails recognized and unknown dangers, uncertainties and different components which will trigger the precise outcomes, efficiency or achievements of the Company to vary materially from any future outcomes, efficiency or achievements expressed or implied by the forward-looking data, together with, with out limitation, dangers referring to the long run business plans of the Company; dangers that the Company will be unable to retain its key personnel; dangers that the Company will be unable to safe financing on cheap phrases or in any respect, in addition to the entire different dangers as described within the Company’s closing prospectus dated November 30, 2021 beneath the heading “Risks Factors.” Accordingly, readers mustn’t place undue reliance on any such forward-looking data. Further, any forward-looking data speaks solely as of the date on which such assertion is made. New components emerge every so often, and it’s not potential for the Company’s administration to foretell all such components and to evaluate prematurely the influence of every such issue on the Company’s business or the extent to which any issue, or mixture of things, might trigger precise outcomes to vary materially from these contained in any forward-looking data. The Company doesn’t undertake any obligation to replace any forward-looking data to replicate data or occasions after the date on which it’s made or to replicate the incidence of unanticipated occasions, besides as required by legislation, together with securities legal guidelines.
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