ASPZ Provides an Update on the HyOrc Technology Development Plans

Rhea-AI Summary

Asia Properties (OTC PINK: ASPZ) has provided an update on the development of its HyOrc hydrogen engine technology, aimed at heavy-duty applications. The development has reached the end of the B-Sample process of design verification, with plans to complete a pilot integrating the HyOrc engine into a truck by the end of Q1-2025 for testing.

The development team includes renewable technology expert Manoharan Sundaralingam and former CTO of Hyzon Motors, Shinichi Hirano. SRE Power, a cleantech company, is behind HyOrc's development, focusing on decarbonizing industries through innovative technologies.

SRE Power's broader initiatives include geothermal, waste heat recovery, and hydrogen power plants. Asia Properties also announced a prospective company name change to HyOrc, Inc.

Positive

• The HyOrc engine development has reached the end of the B-Sample process.
• Plans to complete a pilot with the HyOrc engine in a truck by Q1-2025.
• Key development team includes experts in renewable technologies.
• SRE Power is expanding its portfolio with renewable energy power plants.

Negative

• None.

CHEYENNE, WY / ACCESSWIRE / July 8, 2024 / Asia Properties Inc. (OTC PINK:ASPZ) is pleased to provide an update from SRE Power, Inc., on the development of the HyOrc hydrogen engine technology for heavy-duty application.

The HyOrc production planning team has confirmed that product development is now at the end of the B-Sample process of design verification. By the end of Q1-2025, the company plans to complete its development pilot with the HyOrc engine integrated into a truck for product testing purposes.

The HyOrc product development team, with a specific focus on its use as a powertrain for heavy-duty trucks, includes the HyOrc head of R&D, Manoharan Sundaralingam, a veteran inventor of renewable technologies, and Shinichi Hirano, former CTO of Hyzon Motors.

Having already completed and tested the prototype HyOrc engine, the company is very excited about the upcoming milestone of performance testing the pilot HyOrc in a heavy-duty vehicle.

SRE Power Inc.

SRE Power, Inc. is a pioneering cleantech company with technology derived from five revolutionary mobility & power patents. The company is dedicated to developing the innovative HyOrc technology for use in decarbonizing various industries, with a focus on sustainability and performance. SRE is currently rolling out a portfolio of renewable energy power plants, which include geothermal, waste heat recovery, and hydrogen power.

Please visit our new website: www.srepower.com

Asia Properties, Inc.

ASPZ is an OTC Pink Market company focused on developing the HyOrc engine technology for heavy-duty trucks, trains, and ships. The Company intends to change its name to HyOrc, Inc.

Forward-Looking Statements

This press release contains forward-looking statements, particularly as related to, among other things, the business plans of the Company, statements relating to goals, plans and projections regarding the Company's financial position and business strategy. The words or phrases "plans," "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 expressed achievements 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 local, regional, and 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, and the Company specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.

ASPZ has 72.69 million shares issued and outstanding, with 26.60 million shares at DTC.

Contact:

Asia Properties Inc.
Aric Recker
Investor Relations
Tel (248) 266-5481

For more information on SRE Power Inc please visit www.srepower.com

SOURCE: Asia Properties Inc.

View the original press release on accesswire.com

FAQ

What is the latest development update on ASPZ's HyOrc technology?

ASPZ's HyOrc hydrogen engine technology has reached the end of the B-Sample process, with plans to complete a pilot by Q1-2025.

Who are the key members of the HyOrc development team?

The team includes Manoharan Sundaralingam, an expert in renewable technologies, and Shinichi Hirano, former CTO of Hyzon Motors.

What are the broader initiatives of SRE Power?

SRE Power is implementing geothermal, waste heat recovery, and hydrogen power plants.

When does ASPZ plan to complete the HyOrc engine pilot?

ASPZ plans to complete the HyOrc engine pilot by the end of Q1-2025.

Is ASPZ planning a name change?

Yes, ASPZ intends to change its name to HyOrc, Inc.