Novagen Solar Inc. continues growth through product development and acquisitions
Thursday, Mar 21, 2013
NEW YORK, March 20, 2013 /PRNewswire/ -- Since its beginnings as a company that focused on mineral exploration when it was founded in 2005, Novagen Solar Inc. has consistently evolved and grown. The firm, which is based in Australia and is expanding operations in the United States, was originally called Pickford Minerals Inc., changed its name to Novagen Solar Inc. in 2009 to reflect its emphasis on solar energy before new management took over in December 2011 and carved a niche in engine development.
Novagen (OTCQB: NOVZ) is experiencing growth under President and CEO Micheal Nugent, who invented the Novagen engine and is steering the company to cultivate a thriving engineering and manufacturing core in the development of products for commercialization in the areas of solar energy, bio fuels, low-carbon emission engines and other green technologies.
When Novagen expanded into engine development in 2011, it launched operations in Australia and has facilitated its growth there through acquisitions and the formation of wholly owned subsidiaries. Bolstered by this expansion, Novagen's team has expertise in engine development, sales and service; aerospace product development; oil exploration; and mining equipment and infrastructure product development, accounting and corporate management.
"We are increasing our capabilities by identifying local businesses that provide services that we previously did not offer," Nugent said. "This strategy helps us become more versatile and allows us to even more effectively achieve our commitment to making the world a better place through our technology."
In 2012, Novagen bought Renegade Engine Company Pty Ltd., a company that designs, develops and manufactures V-Twin motorcycle engines, custom motorcycles and related urban clothing under the Renegade brand.
Last year, Novagen also acquired Y Engine Developments Pty Ltd., which owns the rights and patentable rights to the opposing piston divaricate cylinder twin crank journal engine embodiment.
Earlier in March, Novagen announced the planned acquisition of Argon Aluminum and the planned addition of aircraft computerized hydraulic test station and associated intellectual property from Misal Technologies Pty Ltd of Victoria, Australia. The transactions reflect the aforementioned growth strategy.
About Novagen Solar Inc.
Novagen Solar, Inc. (OTCQB: NOVZ) is engaged in the development and commercialization of low carbon emission engines and other clean technology solutions with a view to create technologies that improve efficiency and reduce levels of greenhouse emissions in a low-cost, globally relevant way. Novagen's operations are based in Queensland, Australia.
SOURCE Novagen Solar Inc.