TULSA, Okla., Oct. 11, 2012 /PRNewswire/ -- Millennial Research Corporation (MRC) (www.millennialresearchcorp.com), a privately held, Tulsa, Oklahoma-based developer and manufacturer of the world's first fully modular electric motor and generator technology, today announced its engagement of Hickey Freihofner Capital, a division of Brill Securities, Inc., an investment banking firm headquartered in New York, New York, to provide financial advisory and related services as MRC continues to expand its capacity to fill recent orders and otherwise execute on MRC's business plan and vision.
MRC's patented Magnetronics technology is a new disruptive advance in electric motors and generators that, based on application, can reduce electricity costs associated with such motors and generators by up to 50 percent or more for electricity-centric activities ranging from compressors and driving golf carts to pumping oil and gas from the earth. The new technology not only delivers greater efficiency, power, and torque, but it is also less expensive to manufacture. The revolutionary improvements increase reliability and product life and significantly reduce the cost and complexity of repairs. In electrical generation systems, this technology can be deployed to finally serve remote areas by converting natural gas into electricity, bringing economical electricity to unserved communities and regions.
"Every electric motor and generator application in the world could benefit from our revolutionary Magnetronics technology," said J. Darin Long, CEO of Millennial Research Corporation. "The market is so large that significant capital is required just to start scratching the surface as we begin fulfilling the enormous, pent-up demand that has resulted from stagnant, century-old technology, coupled with growing worldwide policy aimed at reducing energy consumption through efficiency. Engaging Hickey Freihofner Capital represents a major milestone toward achieving our vision to improve energy efficiency, quality of life and economic growth worldwide."
The Magnetronics technology represents key design breakthroughs including modularity, scalability, and serviceability. With a modular, scalable design, MRC's products can self-adjust its power output to match power consumption demand and thereby require less fuel. The revolutionary improvements also yield greater reliability and product life span. Product maintenance costs are relatively low since a service technician can replace simple modular parts in the field using only hand tools. The Magnetronics technology avoids traditional complex windings that are susceptible to failure, which subsequently require great expense to ship to far away factories for overhaul.
"In addition to improving energy efficiency throughout the world for those on the electrical grid, we are driven to bring electricity to remote communities that power lines can't economically serve," noted Mr. Long. "We employ our Magnetronics Technology in creating scalable 'micro grid' platforms driven by industrial motors made by Arrow Engine (a subsidiary of TriMas Corporation (NASDAQ: TRS) (www.arrowengine.com) that are fueled by abundant natural gas and allow us to bring economical electricity to unserved remote areas. One example of this is illustrated by our recent purchase order from Big Navajo Energy (www.bignavajoenergy.com), where we will begin providing electricity to an estimated 18,000 homes without electricity on the Navajo Nation. Our $2.86 million, 3 megawatt purchase order only begins to fulfill demand in the Navajo Nation, as it provides a small fraction of the local 900 megawatt need. Our Navajo Nation project is a great example of the multi-billion dollar micro grid market, where our platform is ideal to produce economical electricity for remote populations around the world. Our micro grid solution is receiving interest from all over the world and now having Hickey Freihofner provide financial advisory services means we can reach these markets," continued Mr. Long.
"Once we did our due diligence on Millennial, it was clear they are uniquely poised to achieve great things," said Paul Hickey, Managing Partner of Hickey Freihofner Capital. "They have ground-breaking patented technology that greatly improves performance while lowering costs, serve an enormous worldwide market and have the right team to execute their vision. We're very selective in the clients we take on and are pleased to represent Millennial. We look forward to a long term relationship as we work with MRC to prepare them for their next growth stage."
"Hickey Freihofner was an easy selection for us", commented Mr. Long. "Early on they set themselves apart by focusing on fully understanding the patented Magnetronics Technology. This understanding enabled a clear and broad shared vision of the global markets our innovative generator technology will easily penetrate. Hickey Freihofner back up that understanding with a proven approach and tremendous capabilities and experience."
About Millennial Research Corp.
Millennial Research Corp. (MRC) is the developer of Magnetronics(TM), a patented, dynamically innovative, and world's first fully modular electric motor and generator technology. For additional information concerning Millennial Research Corporation please visit www.millennialresearchcorp.com.
About Hickey Freihofner Capital
Hickey Freihofner Capital is a division of Brill Securities, Inc., member of FINRA/SIPC/MSRB, that specializes in raising growth capital for small and medium sized companies. Hickey Freihofner helps fund companies by introducing them to appropriate and motivated U.S. and international investors. We specialize in Private Placements funded by private equity funds and high net worth investors, PIPEs, and Pre-IPO and Bridge Financing. Our team members represent seasoned financial professionals. Each is equipped with practical knowledge of U.S. and international financial markets, business practices, and cultures; and, each brings perspective and adds dimension to the financial solutions we provide. For additional information concerning Hickey Freihofner Capital please visit www.hfcap.com."
Millennial Research Corporation is including the following cautionary statement in this corporate release to make applicable and take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 for any forward-looking statements made by, or on behalf of, the Company. Forward-looking statements include statements concerning plans, objectives, goals, projections, strategies, future events or performance, and underlying assumptions and other statements which are other than statements of historical facts. From time to time, the Company may publish or otherwise make available forward-looking statements of this nature. All such subsequent forward-looking statements, whether written or oral and whether made by or on behalf of the Company, are also expressly qualified by these cautionary statements. Certain statements contained herein, including, without limitation, those that are identified by the use of the words "anticipates," "estimates," "expects," "forecasts," "intends," "plans," "predicts," "projects," "believes," "seeks," "will," "may" and similar expressions, are "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, but there can be no assurance that management's expectations, beliefs or projections will result or be achieved or accomplished.
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SOURCE Millennial Research Corporation