LGM’s Outboard Electric Engine Was Accepted by the Korea Public Procurement Service

SEOUL, SOUTH KOREA / ACCESSWIRE / July 5, 2018 / LGM Co., Ltd., a subsidiary of Leo Motors Inc. (OTC PINK: LEOM) announced that its electric outboard engines were accepted and registered by the Korea Public Procurement Service. With the registration, LGM is able to sell its e-outboard engines ranging 25~270 Horse Power (HP) to the Korean government offices, organizations and businesses.

90 HP e-engine LGM is selling.

To be registered on the Public Procurement Service, LGM passed the due diligence by the government such as power, safety, and efficiency of the e-engines through engineering and field tests, production facilities and its capabilities. Because the e-boat engine is a new product on the government procurement list, the Korean government created a new code to register LGM products.

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 by innovating technologies such as the 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. Without these key technologies, it is not possible to make sustainable and marketable electric boats. Currently, LGM finished the developments and tests of various electric boat power systems from 16 HP to 660HP (dual) HP which can let a 32 foot power boat make speeds up to 40 knots (approx. 46miles/Hour).

Electric boats have many advantages in addition to energy efficiency. Electric boats substantially reduce noise and vibration while traveling, one of the biggest problems for ICE (Internal Combustion Engines) boats, and do not produce any stench from oil or gas. Despite these advantages, only a handful of electric boats have been developed throughout the world due to high technology barriers.

Electric boat power systems have traditionally presented electric shock hazards because of the proximity of water. Thus, users of e-boats are always exposed to the potential of fatal electric shock accidents. LGM’s technological break-through, the invention of the electric shock prevention circuit, eliminated such dangers, and this invention enables LGM to be the first company in the world to commercially offer water-friendly electric boats. Due to this, LGM is the only company in the world which can produce safe e-boats which are marketable.

Last year, LGM developed the world’s first marketable Plug-in Hybrid Boat (PHEB) engine. There were many research or test developments of PHEB engines in the world, but the launch of a commercial model was unprecedented. LGM’s new 90 horse power PHEB engine which consists of the electric engine including a 67 kW electric motor, controller, and 24 kWh Lithium Ion battery power pack, and diesel engine generator charging 3kW ~ 9 kW of electricity per hour to the battery. Applying to the 24 foot PHEB fishing boat, the range when using only the electric engine is around 18 miles per a single charge with speed of 30 knots per hour. After using the charged electricity, it uses electricity generated by the diesel engine. In this way, it solved the range limitation problem of electric boats.

The new PHEB system is managed by artificial intelligence (AI) controller connected with LGM’s cloud server which automatically activates a generator when the battery reaches its depletion level. Also, the AI controller diagnoses the destination-based energy usage, and detects, and reports the status of all components of PHEB engine on the digital cluster and smart phone.

Mr. Won, CEO of LEOM said, “With the registration on the Public Procurement Lists, we can officially start business to government (B2G) business. As the Korean government fosters environment friendly products and preserve the environments of inland waters and coastal areas, they will be one of the most important clients for us.”

LGM is also going to provide a Sailing Generation System that uses wind power generated from sailing to recharge batteries eliminating conventional charging processes. LGM’s regeneration system is powered by hydraulic power, generating electricity of more than 10kW per hour depending on the wind speed.

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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