Quantum Energy Corporation Completes First Quantum Licensed Distributor Agreement

Rhea-AI Summary

Quantum Energy Corporation (FLCX) finalizes its first Licensed Distributor Agreement with Viridis Energy Partners, Inc., expanding its reach into Michigan and California. The Agreement includes a $500,000 license fee and $1,500,000 in stocking inventory of Quantum Direct Energy System products.

PHOENIX--(BUSINESS WIRE)-- Quantum Energy Corporation (The “Company” or “Quantum”) [OTCPink: FLCX], a worldwide exclusive licensee and manufacturer of transformative Direct Energy Systems for the direct generation and distribution of electrical energy owned by and for use of the consumer, today announced it has finalized its first Licensed Distributor Agreement (“Agreement”) with Viridis Energy Partners, Inc., (“Viridis”), of Monroe, Michigan. The Agreement, now executed on March 4, 2024, was made effective December 22, 2023.

Viridis is also completing an additional non-exclusive Quantum Licensed Distributorship for Maricopa County, Arizona, and has started initial filings for a Licensed Distributorship in southern California.

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-leading nuclear energy contractor and electrical service company employing more than 500 people.

Revenue from the Agreement consists of a license fee to Quantum of $500,000 with an additional $1,500,000 in stocking inventory of Quantum Direct Energy System products. The distributor license covers the following Michigan counties on a non-exclusive basis:

1. Hillsdale
2. Ingham
3. Jackson
4. Lenawee
5. Livingston
6. Macomb
7. Monroe
8. Oakland
9. Washtenaw
10. Wayne

Viridis will be announcing its office and facility location within the month. Quantum will be announcing the opening of its first Michigan service facility and offices by the end of this month.

Viridis will offer the entire Quantum product line, which now exceeds over 400 products and services, and will also be involved in commercial testing of the new Quantum solar (photovoltaic) product line, which is 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, deployed and cleaned daily through automation 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 for California, Arizona, Washington, Michigan and Ohio.

Harry Ewert, Quantum Division President, represented and closed the transaction for the Company. All products manufactured by Quantum and offered for sale will be Underwriters Laboratory and Canadian Standards Association certified for use.

“All of us at Viridis are extremely pleased with our new licensing rights. The Viridis team has worked with Quantum for over three years on this opportunity. Our professionals, which include master electricians and professional engineers, are very pleased with Quantum energy systems and product quality. Our customers are excited about the installed systems, ongoing installations, and expanded opportunities to bring Quantum products and services to the larger market.” said Paul Swinkey, Viridis’ president.

Tom Wiegman, P.E., senior engineer for Viridis, commented, “My direct experience with the Quantum Direct Energy System at the Quantum Scottsdale facilities demonstrated robust system engineering and high-quality workmanship; a perfect fit for our customers. The innovative and exciting aspect of the Quantum technology’s ability to recover photovoltaic activity, indoors and out, and reduce energy consumption, in conjunction with a remarkable flywheel engine technology that stores and smooths the energy, is a winning proposition. The ability to harvest energy around the clock regardless of the weather or other outside interferences, then flow the energy to state-of-the-art storage systems, allows for a constant, long-term energy supply, with zero emissions.”

Quantum’s Chief Operating Officer Craig Kitchen stated, “We are very pleased to be working with Viridis and its significant resources as the signing of our first licensed distributorship begins the commercialization and our market entry into Michigan, Arizona and southern California. Going forward, we will announce new licensed distributorship agreements in the U.S. and Canada.”

Quantum division president Harry Ewert stated, “Viridis brings the best of both worlds, a new Quantum Licensed Distributorship with decades of electrical and energy industry experience that will represent Quantum Direct Energy Systems in multiple jurisdictions within the U.S. Viridis has access to hundreds of customers, which will yield steady growth for both Viridis and Quantum.”

About Quantum Energy Corporation

Quantum is the worldwide exclusive licensee and manufacturer of transformative photonic, magnetic propulsion, capacitor and battery energy systems for the direct generation and distribution of electrical energy produced and used by the consumer. Quantum Direct Energy Systems are 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.

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Brian Siegel, IRC, M.B.A.

Managing Partner

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(346) 396-8696

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Source: Quantum Energy Corporation

FAQ

What is the ticker symbol for Quantum Energy Corporation?

The ticker symbol for Quantum Energy Corporation is FLCX.

Who did Quantum Energy Corporation finalize its first Licensed Distributor Agreement with?

Quantum Energy Corporation finalized its first Licensed Distributor Agreement with Viridis Energy Partners, Inc.

What is the value of the license fee paid to Quantum Energy Corporation by Viridis Energy Partners, Inc.?

Viridis Energy Partners, Inc. paid a license fee of $500,000 to Quantum Energy Corporation.

What additional amount did Viridis Energy Partners, Inc. provide in stocking inventory of Quantum Direct Energy System products?

Viridis Energy Partners, Inc. provided an additional $1,500,000 in stocking inventory of Quantum Direct Energy System products.

Who are the key executives leading Viridis Energy Partners, Inc.?

Viridis Energy Partners, Inc. is headed by Keith Masserant and Paul Swinkey.