ADVANCETC ENTERS INTO AGREEMENT TO ACQUIRE 51% OF ONYX NUENERGY SDN BHD
AdvanceTC enters into agreement
Sydney, April 3, 2024 AEST (ABN Newswire) - AdvanceTC Ltd (
ATCLF:OTCMKTS) (NSX:A88) is pleased to inform that it has entered into an agreement to acquire a 51% stake of Onyx Nuenergy Sdn Bhd (A renewable energy company) on the 25th Mar 2024, in Kuala Lumpur. The occasion was witnessed by representatives from both companies, including stakeholders and the press. The Company believes that with its entry into the green renewable energy sector, it would greatly enhance its business expansion plans and further strengthen its growth foundation. The 2 major products the company plans to introduce to the market in the very near future are the patented Nubt Ultra boundary turbines (Hydropower) and the Nteg Thermal Power Generator Panel 3 (Solar Power).
Additionally, AdvanceTC Ltd announces that the main focus of the Company remains unchanged. The Company is committed to enhancing its technology products and exploring new opportunities to innovate within the mobile device sector. The Company has no intention of changing the capital structure, and no new securities will be issued to finance the investment.
About Onyx Nuenergy Sdn Bhd (ONM)
ONM is a company that cooperates and holds the rights to manufacture and market the patented products from Nuenergy Technologies Corporation, a technology company owned by American scientist Dr. Hector Guevara. Dr. Hector has been developing various renewable energy technologies and technologies. After more than 10 years of unremitting efforts, he has achieved breakthroughs in multiple projects and obtained exclusive patents. First, the revolutionary system of the Nubt Ultra boundary turbine has a bearing design that can achieve power efficiency up to four times that produce by traditional low-speed hydropower or wind power generation systems, thanks to its ultra-high 200,000 rpm bearing design. Second, Nteg Thermal Power Generation Panel 3 is also one of the patented technology products by Dr. Hector. By breaking through the technical bottleneck of thermal power generation technology for nearly a century, the Nteg patented technology can output up to 55% renewable energy efficiency in an operating environment with a temperature difference of only 15 degrees Fahrenheit. This means that the Nteg can achieve continuous power supply in a general normal temperature environment, without day or night restrictions, ultra-low maintenance costs, and does not require extensive reliance on costly power storage systems.
The Company believes that by acquiring ONM as one of its subsidiary , the Company will be able to achieve greater heights and a smooth and successful up-list transition to the US Capital market.
About AdvanceTC Limited
AdvanceTC is a premier technology company specializing in the design and development of mobile telecommunication and computing devices. AdvanceTC is listed on NSX Australia (NSX:A88). More information on the company can be found at www.advancetc.com
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