HOUSTON--(BUSINESS WIRE)--American Security Resources Corporation (Pinksheets: ARSC) announced today that St. George Fund has sent the first tranche of funding to begin production at its Hydra Fuel Cell Corporation subsidiary.
Bob Farr, President and COO of ARSC, stated, “With this funding from St. George we will begin our initial production run to start delivering to our existing $21 million purchase order backlog.”
“After we see how production is progressing we will open up our sales channels again,” Farr concluded.
St. George Investments LLC
The St. George Investments LLC is a Chicago based investment company managed by John M. Fife, specializing in buyouts, late stage growth equity investments and PIPES. They strive to find and create circumstances that combine three factors that are critical to investment success. These are: great business opportunities, uncommon managerial talent, and financial capital.
American Security Resources Corporation
ARSC is a holding company developing technologies that will advance the development of alternative energies. ARSC, through its Hydra Fuel Cell subsidiary, has developed high volume, mass producible hydrogen fuel cells. Its American Hydrogen Corp. subsidiary is developing methods to inexpensively formulate hydrogen. For more information, please see: www.americansecurityresources.com
Safe Harbor Statement
This news release contains certain “forward-looking statements” within the meaning of Section 27a of the Securities Act of 1933 and Section 21e of the Securities Exchange Act of 1934. Although the Company believes the expectations reflected in such forward looking statements are reasonable, it can provide no assurance that actual results will meet or exceed such expectations.