LGM Enters Strategic Partnership Agreement with Hyundai Yachts

SEOUL, SOUTH KOREA / ACCESSWIRE / March 23, 2017 / LGM, Inc., a subsidiary of Leo Motors Inc. (OTCQB: LEOM) has finalized a strategic partnership agreement with Hyundai Yachts Co., Ltd. to co-develop and market electric yachts. This move will allow Hyundai Yachts, the largest yacht manufacturer and trader in Korea, to use LGM’s electric propellant system in their yachts and boats.

Dr. Kang, chairman of LGM, said, “This strategic partnership with Hyundai Yachts greatly helps our entry to the yacht market and enhances our portfolio. With this contract, we step closer to the capitalization on our technology.”

As a start, LGM and Hyundai Yachts participated in the 2017 Busan Boat Show using a joint booth. After the exhibition, LGM looks to visit the US for a full-fledged electric yacht conversion enterprise to conduct replacement services for yachts and powerboats using old internal combustion engines.

The process of converting a boat’s engine to electric using LGM systems and solutions is an easy process for LGM, and costs are competitive in replacing old engines with new electric propellants. LGM’s electric inboard and outboard propulsion systems now range from 40 HP to 700 HP and also includes their Sailing Generation System for sailing yachts that uses power generated by wind to recharge batteries while under way, eliminating conventional charging processes. Any old yacht owners now have opportunities to convert their old engines into clean, stench free, noisy free, and low energy costs electric system.

This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “will,” or “plans,” to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company’s reports and registration statements filed with the Securities and Exchange Commission.

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SOURCE: Leo Motors Inc.

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