There were a number of stocks that had made a strong move on Monday and one of those was the REGI US Inc (OTCMKTS:RGUS) stock, which ended up with gains of as much as 65%.
On Monday, RGUS stock jumped 65% to $0.0330 with more than 100 shares traded, compared to volume of 14.74K shares. The stock moved within a range of $0.0330 – 0.0330 after opening trading at $0.0330.
RadMax Technologies Announces Phase 1 Development Funding for New Hybrid Cycle Engine for Vehicles and Power Generation
The board of directors of the company and its fully owned subsidiary unit RadMax Technologies Inc announced yesterday that it had raised the initial funding for the purpose of developing a new engine concept. The engine in question is going to be deployed in defense applications, hybrid vehicles, and power generation. An equity group that is based out of Texas agreed to provide the first phase of funding for the RadMax Hybrid Cycle Engine.
In the first phase, RadMax is going to work on the preliminary design, thermal and dynamic modeling, and business case review related to the design. The initial phase of the modeling of the product has shown that the engine could produce the same sort of performance and efficiency as a hydrogen fuel cell. In addition to that, it could also have the same sort of life cycle as the batteries which are now used in electric vehicles. It now remains to be seen if the REGI stock can continue to add to its gains today or not.
According to RadMax Chief Technology Officer, Paul Porter, “the RadMax HCE’s positive displacement, lower speed, and pressure design addresses the traditional turbine engine shortcomings of large airflow and excessive heat transfer losses, low fuel use efficiency, poor startup time and throttle response, and high temperature, noise level and vibration issues”.
RGUS stock is trading above the 20-Day and 50-Day Moving averages of $0.0220 and $0.01580 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0140. The company has a total market capitalization of $4 million.