VANCOUVER, British Columbia, Feb. 14, 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 installed for testing its first prototype VAB Controller© (Vehicle Automated Battery/Block Controller and Monitoring System). We will now commence a robust 90-day field testing program on this vehicle, before installing the second and third units on additional vehicles in the coming week. Initial testing is focusing on the proprietary software controls in a field testing environment.
The initial vehicle has been successfully recording battery and engine conditions and automatically reporting data back for analysis. The system is designed to alert vehicle and fleet operators if any conditions exceed normal operating parameters.This first unit is collecting data and simultaneously tracking GPS over approximately 240 kilometres (150 miles) a day in order to vigorously test the data control and software aspects of the VAB Controller®. This data is being analyzed to test all recording functions, with our software developer on hand to make adjustments if required.Lee Wheelbarger, the system inventor and EBP CTO, explains: “The objective of this initial field testing is to put the system of the prototype units through extensive data collection to allow us to finalize software development. Any required design adjustments will be made, followed by the production of additional prototype units for demonstration and sale to customers which we have already identified. Meanwhile, further test vehicles have been identified to broaden the program to cover a wider range of real-life operating environments.”As released in news on January 30 of this year, the VAB Controller© is an advanced design of preliminary battery warmer designs developed last summer with Far’s support. As also reported, 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.For and on behalf of the BoardToby Mayo
President and CEOAbout FarFar 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 BattMatBattMat 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 PowerElectric 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 ContactL. Frank Anderson, Director
Far Resources Ltd.
+1 (604) 253-3444The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.Forward Looking StatementsThis news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
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