LGM Signed the Memorandum of Understanding to Provide Electric Engines for Boats

SEOUL, SOUTH KOREA / ACCESSWIRE / June 18, 2018 / LGM Co., Ltd., a subsidiary of Leo Motors Inc. (OTC PINK: LEOM) signed the memorandum of understanding to provide high power electric engines amounting to around $2.2 million to Ruckmarine LLC. in the San Diego Boat Show.

After the show, LGM demonstrated the performance of its 660 horsepower electric engine at Dana Point. Mounted in the electrified power boat, LGM’s electric engine speeded up to 40 knots. In particular, it did not make any noticeable engine sound under 5 knots.

Dr. Kang, CEO of Leo Motors, commented, “Our e-boat can be efficiently used for coast guards as it makes almost no sound at lower speeds. It can approach to the suspicious boats silently and then reach sudden full speed when required.”

LGM Co., Ltd., a subsidiary of Leo Motors, Inc. (LEOM) is a pioneer of developing a unique high-power electric engine for sail, fishing, and power boats and yachts. LGM has overcome many inherent problems with electric boats with innovating new technologies such as a cartridge battery system, electricity shock prevention, range management, power management, electric magnetic radiation (EMR) prevention, plug-in hybrid power system, and mobile Artificial Intelligence (AI) connection.

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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