Licensing Agreement Expanded With Johns Hopkins University Applied Physics Laboratory
HOLLYWOOD, FL--(Marketwire - 11/03/10) - Genesis Electronics Group, Inc. (OTC.BB:GEGI - News), www.genesiselectronicsgroup.com, announced that it has significantly expanded the field of coverage for its solar power source patents licensed through Johns Hopkins University Applied Physics Laboratory (JHU/APL).
The licensing agreement between JHU/APL and Genesis, US Patents 5,644207 and 6,608,464, has now been renewed and amended with world-wide exclusivity granted to Genesis Electronics. Under this expanded agreement, Genesis now has the rights to the intellectual property as applied to virtually all hand-held and portable electronic devices on a global scale. These patents, which Genesis controls, make possible a far more compact and efficient design and engineering of solar-powered devices.
Edward Dillon, President and CEO, commented, "Securing this expanded field of use for our patents licensed through JHU/APL is an important milestone. The potential range of uses for these patents is enormous and includes not only cell phones and 'smartphones,' but also includes laptops, tablet computers, PDAs, two-way radios, MP3 players, portable CD and DVD players, emergency communication and signaling devices, and even specialized field equipment for both commercial and military applications."
The patents not only permit more efficient and space-saving engineering, but also make possible the construction of electronic devices that have their entire structural casings generating power to the device from solar energy. Separate battery compartments are thereby eliminated, along with most of the wiring and other connections needed in conventional power delivery.
Raymond F. Purdon, Chairman, said, "In addition to the broadened application coverage that our expanded agreement with JHU/APL gives us, our relationship will continue to grow. As a licensee, we are in a privileged position to arrange support and input from their extensive team of engineers, physicists and technicians. This will be invaluable as we pursue future product development."
Genesis Electronics has developed a solar-powered charger for the iPhone called the SunBlazer™ (www.mysunblazer.com) which it expects to bring to market shortly. In the recently released 2010 JHU/APL Office of Technology Transfer Newsletter, Genesis Electronics and the SunBlazer™ captured the spotlight as the featured story. Read all about it at http://www.jhuapl.edu/ott/NewsEvents/newsletter/issues.asp.
Forward Looking Statements
Except for historical matters, matters discussed in this release are forward-looking and are made pursuant to the safe harbor provisions of the 1995 Private Securities Litigation Reform Act. Investors are cautioned that these statements reflect numerous assumptions and involve risks and uncertainties that may affect Genesis Electronics Group, Inc., its business and prospects, and cause actual results to differ materially from these statements. Among these factors are Genesis Electronics Group, Inc.'s operations; competition; entry barriers; relationship reliance; technological changes; new systems introduction; vendors pricing; supply of components and software, and other factors detailed from time to time in our filings with the U.S. Securities and Exchange Commission. In light of risks and uncertainties in these forward-looking statements, they should not be regarded as a representation by Genesis Electronics Group, Inc. or any other person that the projected results, objectives or plans will be achieved. Genesis Electronics Group, Inc. undertakes no obligation to revise or update these statements to reflect events or circumstances after the date hereof, except as may be required by applicable law or regulation.
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