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Perpetua Announces a Spin-off of its Wearable Thermoelectric Technology Business

Perpetua Power Source Technologies, Inc. will continue to build on its momentum in the industrial wireless sensor markets, while the new spin-off, Thermogen Technologies, Inc., will strategically focus on the rapidly expanding wearables and IoT markets.

January 14, 2015

CORVALLIS, OR –– Perpetua Power Source Technologies, Inc. (“Perpetua”) announced that its Shareholders approved a plan to spin-off a portion of its proprietary thermoelectric energy harvesting technology business into a standalone company, Thermogen Technologies, Inc. (“Thermogen”). This transaction was effective as of December 31st, 2014 and both companies will remain at the current location.

Perpetua also announced that James F. Hensel, former President of Perpetua’s IoT division, will serve as Chief Executive Officer of Thermogen. R. Jon Hofmeister remains the President of Perpetua Power Source Technologies, Inc. and Director of Thermogen. “Capitalizing on the exciting market interest of our innovative wearable thermoelectric energy harvesting technology, TEGwear™, we’re confident that the Thermogen spin-off will allow us to further capture customer interest in a broad range of wearable and Internet of Things applications,” said Jon Hofmeister.

“With a robust patent portfolio around ultra low-grade heat energy recovery technology, an experienced leadership team, and supportive client base, we are excited about this opportunity to further develop and market our unique renewable energy technology into several highly active market areas,” said Jim. He continued, “Wearables, smart home, and smart city are all enormous emerging markets that are actively searching for viable battery supplement solutions. We are already engaged in several key engineering contracts with product development partners, so this spin-off will act as a catalyst to focus support on these existing plus new customers to speed up our wearables and IoT roadmap.”

About Thermogen Technologies, Inc.
Thermogen (www.thermogentech.com) develops and markets thermoelectric energy harvesting technologies that provide best-in-class temperature differential performance that will extend the life of batteries or replace them altogether in a wide range of low-power wearable and IoT electronic devices.

About Perpetua Power Source Technologies, Inc.
Perpetua (www.perpetuapower.com) is a leading provider of thermoelectric energy harvesting solutions that enables wireless sensors to operate more cost effectively while providing near real-time data from wireless sensors in industrial applications including applications requiring intrinsically safe certification.

Contact:

Jerry Wiant
VP Marketing
503-852-1812
jerry@thermogentech.com




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Perpetua, Power Puck, Powering Wireless are trademarks or registered trademarks of Perpetua Power Source Technologies, Inc.
Thermogen and TEGwear are trademarks of Thermogen Technologies, Inc.