Lomiko Metals investment receives power hub patent
2021-06-25 13:19 ET – News Release
Mr. Paul Gill reports
LOMIKO INVESTMENT SHD SMART HOME DEVICES LTD AWARDED NEW US PATENT APPROVAL FOR (IOT) POWER HUB RECEPTACLE
Lomiko Metals Inc. investment SHD Smart Home Devices Ltd. has received a new patent, No. 11063396, from the United States Patent and Trademark Office for its Internet of things (IoT) power hub wall-mounted receptacle. The publication date for the patent is July 15, 2021. Lomiko Metals’ 100-per-cent-owned, subsidiary Lomiko Technologies Inc., is the owner of 18.15 per cent of SHD Smart Home Devices and 40 per cent of Graphene Energy Storage Devices (Graphene ESD). This is an excellent development for SHD and opens up licensing and manufacturing opportunities. SHD continues to investigate licensing and manufacturing opportunities and aims to complete underwriters laboratory (UL) certification for the product and continues research and development of products related to power conversion, heat management and electric vehicle charging equipment.
“SHD has an incredible opportunity to participate in a burgeoning IoT and smart device market,” stated A. Paul Gill, chief executive officer. “Major companies such as Leviton, Legrand, Pass and Seymour and others have recognized this new market and have launched similar devices.”
In order to focus on its battery materials properties in Quebec, Lomiko Metals entered into an agreement to sell its 100-per-cent interest in Lomiko Technologies to Prometheus Technologies Inc. for $ 1,236,625 on Aug. 6, 2020. Prometheus Technologies plans to merge with Prometheus Technologies NV and the resulting company aims to list on the Dutch Caribbean Securities Exchange to seek further financing to develop both SHD and Graphene ESD. Lomiko would retain 20-per-cent interest in the resulting issuer and be reimbursed $152,858 in expenses paid by Lomiko on behalf of Prometheus Technologies. The transaction was due to complete by June 30, 2021, but that target date has not been met due to delays related to COVID-19. A new resolution to extend the time frame of the sale will be presented to the next annual general meeting.
Mobile phone manufacturers such as Samsung and Apple have already made the decision not to include charge adapters in the retail box with new phones. The patented IoT power hub has six USB charge points and two traditional plug outlets, providing capability to charge up to eight electronic devices from one receptacle. Furthermore, the patented design has the USB ports situated on the sides of the device allowing all USB outlets to be used simultaneously without obstructing the plug outlets. This is a problem that many competing options with front-mount USB outlets face. The devices also greatly reduces the wasted energy from overheated power converters created from less-than-optimal chargers. SHD is a company jointly launched by Lomiko Technologies and MegaHertz Power Systems Ltd. on Feb. 16, 2016, focused on IoT devices and electric vehicle (EV) charging solutions. SHD will continue to execute on its plans to develop, contract manufacture, distribute and sell its chargers and related devices.
There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB charging devices. If only one or two USB charging devices are installed in new homes and retrofitted into current homes undergoing renovations, there will be a healthy demand for these IoT products. SHD plans to enter into negotiations with IoT distributors to sell the IoT power outlets and other related devices in North American markets. Lomiko will share its network of industry connections to help grow the venture and then enjoy the SHD equity multiplier without being burdened with any engineering, new product development, IP or associated marketing costs as the IoT power outlet and additional suite of IoT products are rolled out.
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