CORRECTING and REPLACING Quantum Energy Corporation Announces Completion of Second Licensed Distributor Agreement with Viridis Energy Partners

Rhea-AI Summary

Quantum Energy (FLCX) announces the completion of a second Licensed Distributor Agreement with Viridis Energy Partners, expanding its reach in Arizona and Michigan.

PHOENIX--(BUSINESS WIRE)-- The ticker in the release dated March 12, 2024 should read: (OTC: FLCX).

The updated release reads:

QUANTUM ENERGY CORPORATION ANNOUNCES COMPLETION OF SECOND LICENSED DISTRIBUTOR AGREEMENT WITH VIRIDIS ENERGY PARTNERS

Quantum Energy Corporation (OTC: FLCX), (“Quantum” or “the Company”), a worldwide exclusive licensee and manufacturer of the transformative Quantum Direct Energy System for the commercial, government and consumer energy markets, today announced it finalized a second Licensed Distributor Agreement (“Agreement”) with Viridis Energy Partners, Inc. (“Viridis”). The Agreement was executed on March 8, 2024.

Harry Ewert, Quantum Division President, represented and closed the transaction for the Company.

Viridis has now executed and paid for a non-exclusive Quantum Licensed Distributorship for Maricopa County, Arizona, which includes the Phoenix metropolitan area. Viridis is the first Quantum Licensed Distributor in Arizona. Viridis is also a Quantum Licensed Distributor for Southeastern Michigan, including the Detroit metro area.

Viridis is headed by veteran power and electrical executive Keith Masserant, and seasoned Michigan finance and business leader Paul Swinkey. Mr. Masserant operates Mid-American Group of Newport, Michigan, a world-leader nuclear energy contractor and electrical service company employing more than 500 people. The Viridis Arizona Distributorship will initially employ a staff of about 25.

Revenue from the Agreement is in the form of a License Fee to Quantum of $500,000 with an additional $1,500,000 in stocking inventory of Quantum Direct Energy System products.

Viridis will announce its office and facility location in April of this year. Quantum currently operates two facilities in Arizona.

Viridis will offer the entire Quantum product line, which now exceeds 400 products and services.

As previously announced, Viridis will also be involved in commercial testing of the new Quantum solar (photovoltaic) product line, the first ultra-lightweight (about 15% of the weight of a monocrystalline) solar panel that does not require the use of glass. The Quantum licensed technology is artificial intelligence controlled, deploys and cleans through automation daily, and requires no structural modification or physical penetration of roofs or exterior structures for installation. The entirety of the solar system, which is part of a Quantum Direct Energy System, is fully rebuildable and recyclable. The Company has large-scale field-testing programs set for California, Arizona, Washington, Michigan and Ohio.

All products manufactured by Quantum and offered for sale will be certified by Underwriters Laboratory and the Canadian Standards Association for use.

“Viridis intends to grow with Quantum, and we are extremely pleased to now own a Quantum Distributorship in Arizona, with more expansion planned,” said Paul Swinkey, Viridis’ president.

Chief Operating Officer Craig Kitchen stated, “This is our second contract with Viridis. Quantum was in need of a licensed distributor in Arizona, just on forward-looking installation contracts and the current installation backlog in Arizona. Viridis will provide Quantum with much-needed installation, product and service support in one of our home states.”

Division President Harry Ewert stated, “Quantum’s revenues continue to climb on distributor agreements, and the Company’s 240-month recurring revenue model is very popular with our customers. Customers paying zero upfront costs and equipment costs that are less than their current utility-derived power is driving interest in our Direct Energy Systems in the U.S. and Canada.”

About Quantum Energy Corporation

Quantum is the worldwide exclusive licensee and manufacturer of the Quantum Direct Energy System, a transformative photonic, magnetic propulsion engine, capacitor and battery energy system for directly generating and distributing electrical energy for industrial, institutional, commercial, governmental, remote and residential installations. Quantum’s unique and patent-pending technologies combine the very best uses of photonic, magnetic and rare earth processing and manufacturing, turning the future from solar power to the new frontier of Photon Power.

Forward-Looking Statements

Certain statements contained in this press release are forward-looking statements and are based on future expectations, plans, and prospects for our business and operations and involve a number of risks and uncertainties. Important factors could cause events or our results of operations to vary significantly from our forward-looking statements. The forward-looking statements in this release are made as of the date hereof and we disclaim any duty to supplement, update or revise such statements on a going forward basis.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240312343551/en/

Investor and Media Contact:

Brett Maas, Managing Partner

Hayden IR

(646) 536-7331

Brett@haydenir.com

www.haydenir.com

Twitter: HaydenIR

Source: Quantum Energy Corporation

FAQ

What is the latest announcement from Quantum Energy (FLCX)?

Quantum Energy (FLCX) announced the completion of a second Licensed Distributor Agreement with Viridis Energy Partners.

Who is the new Licensed Distributor for Maricopa County, Arizona?

Viridis Energy Partners is the new Licensed Distributor for Maricopa County, Arizona.

Which areas are covered under the new Licensed Distributor Agreement?

The new Licensed Distributor Agreement covers Maricopa County, Arizona, including the Phoenix metropolitan area, and Southeastern Michigan, including the Detroit metro area.

Who represented Quantum Energy in finalizing the Agreement?

Harry Ewert, Quantum Division President, represented and closed the transaction for Quantum Energy

Who heads Viridis Energy Partners?

Viridis Energy Partners is headed by veteran power and electrical executive Keith Masserant and seasoned Michigan finance and business leader Paul Swinkey.