Mr. Randy Koroll reports
STAR NAVIGATION ENTERS INTO A MEMORANDUM OF UNDERSTANDING WITH HYDROTOR TECHNOLOGIES INC.
Star Navigation Systems Group Ltd. has entered into a formal memorandum of understanding (MOU), from Hydrotor Technologies Inc., a clean energy innovation company that has developed new groundbreaking power renewable alternative energy products.
Hydrotor has pioneered a safe, cost-effective and eco-friendly alternative to traditional power generation. Through this MOU, Star and Hydrotor will explore opportunities to combine Star's advanced live performance data analytics, diagnostics and system intelligence with Hydrotor's renewable generators, enhancing monitoring and optimizing performance for energy supply solutions worldwide.
Importantly, this MOU represents the first step toward a potential binding commercial agreement. Both parties have agreed to work in good faith toward finalizing such an agreement, which would define product specifications, pricing, logistics and satellite communication services. Until a definitive agreement is reached, the MOU establishes a framework for collaboration without constituting a completed commercial arrangement.
In parallel, Hydrotor is currently in advanced discussions with multiple business groups and government organizations across several countries in Asia, Europe and Africa regarding the sale and purchase of its generators. This demonstrates growing global interest in Hydrotor's technology as countries seek sustainable solutions to solve the following issues that many countries face:
- Surging electricity demand:
Strong growth in global electricity demand is expected in 2025 and 2026, driven by factors like rising industrial use, growing numbers of appliances, increased air conditioning and the massive expansion of data centres.
Investment in renewables has reached record levels, with solar and battery storage technologies seeing significant capital inflows.
- Aging grid infrastructure:
A critical challenge is the underinvestment in power grids, which need substantial upgrades to handle the expanding renewable supply and meet rising demand.
Randy Koroll, director and chief executive officer of Star, stated: "This MOU marks an important milestone. While it is not yet a finalized commercial agreement, it allows Star and Hydrotor to focus their efforts on structuring a binding arrangement and supporting Hydrotor in its global expansion. We see enormous potential for these generators, especially in regions struggling with energy shortages."
About Hydrotor Technologies Inc.
Hydrotor is a clean energy firm that is recognized for its development of a magneto-fluidic generator that operates continuously without the need for fuel, batteries or solar input. The system is capable of producing between 25 kilowatts and 1,000 kW per unit. It has been successfully demonstrated for over 3.5 years.
About Star Navigation Systems Group Ltd.
Star Navigation Systems Group manufactures the in-flight safety monitoring system, STAR-ISMS, the heart of the STAR-A.D.S. system. The STAR-A.D.S. system has real-time capability of tracking, performance trends and predicting incident -- occurrences which enhances aviation safety and improves fleet management while reducing costs for the operator.
Star's MMI division (military and defence) designs and manufactures high performance, mission critical, flight deck flat panel displays for defence and commercial aviation industries worldwide.
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