Asia Properties Acquires Houston Hydrogen Tech Firm for $72M to Launch Revolutionary HyOrc Engine
Key Ideas
  • ASPZ enhances its technological portfolio with the acquisition of SRE Power for $72 million.
  • SRE Power forecasts an impressive $3.5 billion in annual turnover within four years with the HyOrc engine, targeting the heavy-duty truck market.
  • The revolutionary HyOrc engine is highly efficient, emission-free, and affordable, utilizing hydrogen gas and Organic Rankine Cycle turbines.
  • Post-acquisition rebranding to HyOrc, Inc., and potential listing on Nasdaq or NYSE could boost market recognition and investor confidence.
Asia Properties Inc. (OTC PINK: ASPZ) has acquired Houston-based hydrogen technology firm SRE Power in a share-for-share deal valued at $72 million. SRE Power's HyOrc heavy-duty engine, which uses hydrogen gas and Organic Rankine Cycle turbines, is projected to generate $3.5 billion annually within four years, targeting the $350 billion heavy-duty truck market. The engine stands out for its efficiency, zero emissions, and affordability, without requiring rare materials like cobalt or lithium. Post-acquisition, ASPZ will rebrand as HyOrc, Inc., with leadership from Chairman James McNaught-Davis and CEO Reginald Fubara. The company plans to accelerate the market launch of the HyOrc engine and aims to list on Nasdaq or NYSE. Asia Properties views this acquisition as a strategic move towards sustainable heavy-duty applications and aims to establish itself as a leader in green powertrain technology. The merger is expected to bring value to shareholders and expedite the commercialization of the HyOrc engine. SRE Power, known for its innovative cleantech solutions, is dedicated to decarbonizing industries with a focus on sustainability and performance. ASPZ, committed to technological advancements, envisions becoming a market leader through strategic acquisitions and supporting innovative businesses.
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