Newco Energy Acquisition Holdings LLC (NEAH Energy), an energy-related asset and services acquisition company, has executed a letter of intent to acquire Thermic Global Industries LLC.
The prospective transaction is expected to include Thermic’s intellectual property rights, applications, pending patents, approved patents, Ultimate Refrigerated Transport Vehicles (URTVs), equipment, and other miscellaneous assets. NEAH is also expected to establish a special-purpose acquisition vehicle, which will be the acquiring party.
Thermic is a green technology company that has a three-prong approach to solving energy needs. First, conserve energy. Second, find bridge technologies that give science time to solve the energy problem. Third, take the new science and apply it practically, which will provide sustainability. The company develops and manufactures products that have high levels of efficiency, allowing consumers to reap the benefits of associated energy savings.
The primary market focus for Thermic is the design and assembly of URTVs. Thermic’s URTVs are climatized delivery vehicles, and the initial production line is planned for Class 4–5 refrigerated delivery truck fleets. Bumper to bumper, the URTV is designed to outperform current climatized trucks in areas such as decreased weight, greater mpg, improved strength, insulation value, and temperature control. This decreases food loss and increases efficiencies for the industry. The next generations of Class 7–8 tractor-trailers are already in the design stage.
Thermic is now applying its energy-saving technologies to a new generation of walk-in coolers and freezers for restaurants and food chains. The firm has been conducting R&D on refrigerated cold storage buildings for food processors and distributors, too. The company has already established contacts with companies for pilot programs including: Sysco, Safeway, and Trinity Industries. Other target client groups include protein processors, grocery chains, logistical (distribution) companies, and convenience stores.
Visit www.neahenergy.com for more information.