Far Resources and EBP Start 90-Day Commercial Testing Program for VAB Controller© Battery Management System.

VANCOUVER, British Columbia, Jan. 30, 2020 (GLOBE NEWSWIRE) — Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) is pleased to announce that its partner Electric Blue Power (EBP) has successfully completed fabrication of three initial working prototypes for the VAB Controller^© (Vehicle Automated Battery/Block Controller and Monitoring System) and will initiate a robust 90-day field testing program including installation and testing on vehicles. The VAB Controller^© is an advanced design of preliminary battery warmer designs developed last summer with Far’s support. Based on Lee Wheelbarger’s long and successful experience inventing urgent need, battlefield-ready technical solutions for the US Military, the several months pre-development period and 90-day field testing period for the VAB Controller^© are well ahead of schedule for similar technology development programs, which can require years.

The expedited, pre-commercial testing program will be carried out based on funding by Far, beginning in February, by installing and testing the prototype VAB Controller^© units on several types of test vehicles and then subjecting the prototype units to demanding temperature and field performance tests. Any required design adjustments will be made and additional prototype units will then be produced for demonstration and sale to already identified customers that own corresponding vehicles, together with installing and testing on several additional types of test vehicles. The objective is to complete field testing of the prototype units, finalize design and, after patent counsel input, commence producing a limited number of units for sale to already identified customers that offer the best potential for early commercial success. EBP has previewed the product to potential customers for the three initial test vehicles, who have each expressed strong interest in demonstration and/or installation on their vehicles.

Lee Wheelbarger, the system inventor and EBP CTO, explains: “This development cycle parallels the one I have used repeatedly over the years to successfully develop and field test technology for US military customers. We are pleased to have been able to also accelerate the typical development cycle by standardizing certain design elements and incorporating certain commercial off-the-shelf components. This enables us to proceed more quickly to actual pre-commercial field testing well ahead of the initial expected time frame.”

The first pre-commercial testing program will take place over a 90-day period, which is scheduled to commence in February.

Wheelbarger continues: “As we get through the first few phases of testing, and we are confident the units are robust and perform well and with high reliability, additional systems will be produced and sent to a select group of mechanics who are experts in their respective fields. These units will be closely monitored to ensure that they function correctly and identify any issues that may arise from their unique applications.”

The VAB Controller^© is designed to provide a highly cost-effective and robust system to reduce the cost of individual vehicle and fleet maintenance and increase vehicle reliability. It independently detects battery and engine conditions and automatically reporting when they exceed normal operating parameters. When the vehicle is not being operated, the VAB Controller^© uses the data to initiate, control and manage battery charging and warming as well as engine block and oil warming.

For and on behalf of the Board

Toby Mayo
President and CEO

About Far

Far Resources Ltd. is a Canadian battery and technology metals exploration and development company with projects in Canada and the USA. More information is available at Far’s website: www.farresources.com.

About BattMat

BattMat Technologies Inc. is dedicated to capitalizing on the advancement of battery-focused technologies and applications, including systems for distributed power, marine power and energy storage. More information is available at BattMat’s website: www.battmat.com.

About Electric Blue Power

Electric Blue Power, LLC operates the all-electric vessel Electric Blue Yacht and is developing the VAB Controller^© and other related designs of inventor Lee Wheelbarger. You can read more about EBP at www.electricbluepower.com.

Information Contact

L. Frank Anderson, Director
Far Resources Ltd.
+1 (604) 253-3444

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

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