American Fusion Nears Texas Tech Testing Deal for Fusion Engines, Expands IP with 7 New Patents
AMFN filed a Product Development and Regulatory on light trading volume (0.3× avg).
Summary
American Fusion announced significant operational and R&D progress, including relocating its headquarters to a new Fort Worth-area facility to streamline engineering. The company is nearing a definitive agreement with Texas Tech University for specialized testing of its 5MW and 500kW Texatron™ Fusion Engines, with testing targeted for July. Additionally, American Fusion filed seven new patent applications, expanding its intellectual property portfolio. This follows the recent delivery of their 5MW engine and is critical progress for a company that reported a going concern warning in Q1. Watch for the initiation of testing activities as early as July.
At the time of this announcement, AMFN was trading at $0.11 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $180M. The 52-week trading range was $0.00 to $0.20. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.