American Energy Partners Subsidiary Awarded U.S. Patent
ALLENTOWN, PA, Aug. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE --American Energy Partners, Inc.(American Energy) (PINK: AEPT), a diversified energy company, announces that its subsidiary Hydration Company of PA, LLC (Hydration) has been awarded a utility patent from the U.S. Patent and Trademark Office (USPTO).
ALLENTOWN, PA, Aug. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- American Energy Partners, Inc. (“American Energy”) (PINK: AEPT), a diversified energy company, announces that its subsidiary Hydration Company of PA, LLC (“Hydration”) has been awarded a utility patent from the U.S. Patent and Trademark Office (“USPTO”). The USPTO issued U.S. Pat. No. 10,730,760 on August 4, 2020.
American Energy, parent to Hydration, has retained the accounting and consulting firm Grossman Yanak & Ford, LLP. The firm specializes in the valuation of intellectual property and we expect to receive a valuation on the patent prior to Q4 ‘20. The following is a link to the USPTO website for further information on our newly issued patent: USPTO Website.
Brad Domitrovitsch, Chairman & CEO of American Energy, stated, “After several years of hard work we have received a patent that further validates Hydration’s business model. The remediation of stored water to areas of the Country where water is in shortage and doing so efficiently is not only a service to the communities and industry of this nation, but should also represent a large contribution to our top-line.” He continued to say, “This is an important step as it protects and reinforces the value of the Mocanaqua Tunnel Mine Project, a partnership between Hydration, the Susquehanna River Basin Commission and EPCAMR.”
Patent Abstract
A method of supplying water using a natural water pipeline includes withdrawing impaired water from an impaired water body connected to a waterway and treating the impaired water from the impaired water body to produce treated water. The method also includes discharging the treated water into the waterway and conveying the treated water via the waterway to one or more locations proximate to one or more remote operational facilities that withdraws water from the waterway at the one or more locations. The method further includes receiving a monetary value from one or more operational entities operating the one or more remote operational facilities and providing at least a portion of one or more water access rights to the one or more operational entities in exchange for the monetary value.
American Energy Partners, Inc. (AEPT)
AEPT and its group of companies focus on providing solutions in markets where energy production and water meet technology. Collectively, the subsidiaries are engaged in the energy sector as well as the design, construction and operation of regional water treatment facilities that serve the industrial, energy and government sectors.
For additional information, visit: American Energy Partners, Inc.
Safe Harbor
This press release contains forward-looking statements, particularly as related to, among other things, the business plans of AEPT, statements relating to goals, plans and projections regarding AEPT’s financial position and business strategy. The words or phrases “would be,” “will allow,” “intends to,” “may result,” “are expected to,” “will continue,” “anticipates,” “expects,” “estimate,” “project,” “indicate,” “could,” “potentially,” “should,” “believe,” “think”, “considers” or similar expressions are intended to identify “forward-looking statements.” These forward-looking statements fall within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 and are subject to the safe harbor created by these sections. Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. Such forward-looking statements are based on current expectations, involve known and unknown risks, a reliance on third parties for information, transactions or orders that may be cancelled, and other factors that may cause our actual results, performance or achievements, or developments in our industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties related to the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic reports and on documents we file from time to time with the Securities and Exchange Commission. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. AEPT cautions readers not to place undue reliance on such statements. AEPT does not undertake, and AEPT specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from AEPT’s expectations and estimates.
Company Contact:
Barwicki Investor Relations, Inc.
30 Wall Street, 8th Floor
New York, NY 10005
(516) 662-9461
