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SAN DIEGO, Dec. 22, 2020 /PRNewswire/ -- Dalrada Financial Corp. (OTCQB: DFCO, "Dalrada") proudly informs its shareholders and the public that the Company has been approved on the OTCQB venture market.
Elevating Dalrada's profile within the investment community is a major milestone in the Company's history
"We are excited that Dalrada has officially upgraded to the OTCQB Venture Market," said Brian Bonar, Chief Executive Officer of Dalrada. "Elevating Dalrada's profile within the investment community is a major milestone in the Company's history. We would like to express our sincere appreciation to our shareholders for their ongoing support, and thank our dedicated employees for their hard work to help achieve this goal."
The OTCQB is a venture market operated by the OTC Markets Group, Inc. and is designed for early-stage and developing companies located both in the United States and abroad. To be eligible for quotation on the OTCQB, companies must have audited annual financial statements, be current in their reporting and undergo an annual verification and a management certification process. Companies must also meet a minimum bid price test. The OTCQB is recognized by the Securities and Exchange Commission as an established public market and provides current public information to investors that need to analyze, value, and trade securities.
The company believes that Dalrada's products and services represent significant advances in Science, Technology, and Engineering that are created to solve real-world problems. By consistently providing quality, sustainable innovations and technologically centered solutions on a global scale, Dalrada's goal is to improve the quality of lives for current and future generations.
Three divisions that fulfill the Company's mission are Dalrada Precision, Dalrada Health Products, and Dalrada Technology. All have launched significant advances amid the year 2020's challenging business conditions.
Mr. Bonar states, "Dalrada's Up Listing establishes a solid foundation to hold the building blocks already developed and we will continue on our mission in offering end-to-end clean energy solutions and environmental-friendly products. The Company will further strengthen this position by seeking additional acquisitions and advancements."
Solving the unique challenges of its customers with its machining and manufacturing capabilities, Dalrada Precision is a key strategic partner to many businesses around the world. Dalrada Precision's mandate is to lessen the burden on engineering design, the manufacturing processes, regulatory demands, and cost to deliver on-time distribution. Dalrada Precision's supply chain partnerships present a significant cost-savings to domestic components and parts sourcing.
Dalrada Precision's subsidiary, Likido Limited ("Likido®") – located in Edinburgh, Scotland with offices in the U.S. – is actively developing and launching advanced solutions for the harvesting and recycling of energy in commercial and residential applications to replace hydrofluorocarbon-based (HFC) refrigerants with its proprietary technology. Reducing Global Warming Potential (GWP) refrigerant to 1,357 that is 90% less than conventional solutions, Likido® addresses European climate change policy while saving the Company's clients 75% on traditional energy costs.
Last week, Dalrada filed a patent for Likido's revolutionary CRYO chiller, an extremely low-temperature freezer unit (-40°C to -75°C) with a control variance of +/-0.5°C, giving excellent batch consistency and validated results. Likido® CRYO is self-contained with self-sustained power and is complete with state-of-the-art features including remote temperature and humidity monitoring. The power system in Likido's mobile CRYO chiller is designed to run the refrigeration system for extended periods of time with low power requirements during transport.
Likido® CRYO fulfills the world's immediate need for safe sea and land transport of biomaterials, vaccines, and other materials. Likido® CRYO enables safe cross-country distribution into remote regions enabling low-income regions to create local centers for storage of biomaterial products requiring cold storage under extreme environmental conditions for long-periods; Likido's CRYO chiller prevents spoilage and waste. A turnkey non-mobile solution by Likido also enables hospitals and other facilities to upgrade their ability to store and dispense temperature-sensitive biomaterials, as well as remote and drive-up mobile clinics for healthcare administration.
The biomaterials global market size was once estimated at USD 106.5 billion in 2019 and was expected to reach USD 121.1 billion in 2020. However, recent market analysis now indicates the biomaterials global market size at USD 348.4 billion by 2027, registering a CAGR of 15.9%.
Dalrada is also ramping production of LikidoONE® heat units for shipment by January 2021. Accelerating manufacturing and operational plans, Dalrada recently executed a terms sheet with a co-manufacturing partner to produce Likido® units in Bonham, TX . Tongrun International will provide expertise in engineering design & manufacturing, secure parts supply, inventory management, and quality assurance and testing.
Dalrada Health is actively addressing cervical cancer which is the second most common cancer – holding the third highest mortality rate – in women worldwide. In comparison to traditional PAP smear screening, the first phase of clinical trials with Dalrada Health's Visual Inspection by Acetic Acid (VIA) kits produced 94.9% accuracy and is entering the second phase of clinical trials.
Dalrada Health's clinical trial results were recently published in a peer reviewed medical journal The Gynecologist that states Dalrada Heath's VIA Kits surpass the efficiency and effectiveness with immediate diagnosis compared to traditional screening modalities. More precious time allows healthcare providers and their patients an immediate path to developing treatment protocols. Dalrada has filed provisional patents in the U.S. and India for its VIA kits.
According to World Health Organization, cervical cancer accounts for approximately 90% deaths in low and middle-income countries. The global market size of cervical cancer diagnostics is estimated at USD 150.6 billion in 2020 and is projected to reach a revised size of USD 223.3 billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027.
Dalrada Health's VIA Kits are both cost-effective and timesaving for practitioners and their patients. Dalrada Health is focused on aiding low-income and mid-income countries with establishing higher quality health care solutions.
Dalrada Health is preparing to launch its VIA Kits in the U.S. In addition, the Company is enhancing their VIA Kits to include training modules and to leverage technology for data collection (informatics for global awareness) and virtual healthcare provider screenings/evaluation using image-analysis capabilities.
Dalrada Health Products' GlanHealth™ supplies to countries, businesses, institutions, and consumers around the world an alternative eco-friendly, non-toxic, water-based sanitizing solution for skin and all non-porous and porous surfaces including textiles, metals, and electronics. GlanHealth's formulation incorporates quaternary ammonium compounds (QACs) that lasts up to 4-hours on skin and up to 28-days on surfaces with 360-degree accuracy of distribution. As a result, long-lasting peace of mind is catalyzing a return to normalcy. GlanHeath's industry solutions include aviation for airplane cockpits and travelers' areas, food preparation and restaurants, real estate and property management, janitorial services and supply, automotive fleet maintenance, and more.
The global eco-friendly sanitizing market is estimated at USD 3.9 billion in 2019 and is estimated to be USD 11.6 billion by 2029, anticipated to at a CAGR of 11.8%. The global surface disinfectant market size was estimated at USD 5 billion in 2019 and is slated to exceed USD 8.5 billion by 2026, at a CAGR of 7.5% from 2020 to 2026. The global hand sanitizer market size is now predicted to reach USD 17.2 billion by the year 2026.
As the world operates at a distance, Dalrada's Prakat Solutions, Inc, – an ISO 9001 Certified Company – actively implements business continuity solutions for their customers with advances in secure information technology. The Company's efforts have been recognized by a Fortune 50-ranked financial company and GAAD, an organization for international inclusion of individuals with disabilities.
Adding to Dalrada's Corporate Social Responsibility and Inclusion efforts, Prakat is committed to empowering uniquely abled individuals making websites, mobile applications, and electronic documents easily accessible for those with auditory, cognitive, neurological, physical, speech, and visual disabilities. Prakat's expertise includes assistive and adaptive technologies, testing and automation, accessibility readiness, accessibility engineering, and legal compliance of accessibility standards (W3C and other country-specific regulations such as the American Disabilities Act (ADA), British Standard 8878 (BS 8878), and the Canadian AODA). For the 6th consecutive year, Prakat hosted Global Accessibility Awareness Day (GAAD) India. There are more than 1 billion living with a disability.
Mr. Bonar concludes, " Acceptance to the OTCQB is a major step in Dalrada's history. Achieving OTCQB status will assist Dalrada to strengthen strategic partnerships and enhance our stockholders' value. We would like to thank Dalrada's investors that share the Company's tenet of perseverance, valor, dedication, and vision."
Dalrada is a Company built for Corporate Social Responsibility and Inclusion and has been recognized for its efforts. Additional information on the Company can be found at https://dalrada.com
About Dalrada Precision
A subsidiary of Dalrada Financial Corp., Dalrada Precision has been focused on solution-based engineering and the customer experience from day one. By continually delivering on its promises, the Company has created trust while building mutually successful long-term relationships.
Dalrada Precision is a team of highly trained and committed individuals. The company takes pride in solving the unique challenges of its customers and constantly improves and enhances its machining and manufacturing capabilities, ultimately becoming a key strategic partner of many businesses. For more information, please visit www.dalradaprecision.com.
About Likido Limited
Likido is an international technology company, developing advanced solutions for the harvesting and recycling of energy. Energy efficient Likido® CRYO chillers save as much as 75% of energy cost and was recently awarded an Innovate UK grant for "repurposing environmentally damaging HFC cryogenic chillers to environmentally inert natural refrigerant". Likido® CRYO chillers enable "greening" of laboratories, hospitals, and facilities including manufacturing, hotels, and residences. Likido® is partnered with Climagal S.L for implementation of Europe's climate change policy in Spain, France, and Romania.
Using its novel heat pump systems, Likido is revolutionizing the renewable energy sector with the provision of innovative modular process technologies to maximize the capture and reuse of thermal energy for integrated heating and cooling applications. With uses across industrial, commercial, and residential sectors Likido seeks to provide cost savings and to minimize carbon emissions across supply chains. Likido® green energy technology is estimated to result in a $110,000 cost-savings for a 250-bedroom hotel (CA, USA).
Likido's new technologies enable the effective recovery and recycling of process energy, mitigating against climate change and enhancing quality of life through the provision of low-carbon heating and cooling systems. For more information, please visit www.likido.net.
About Dalrada Health Products
A subsidiary of Dalrada Financial Corp., Dalrada Health Products is focused on solving health problems around the world. The company develops products and services that address the unmet needs of consumers due to accessibility, affordability, or availability. With operations in the U.S., Malaysia, and India, Dalrada Health Products can reach underserved markets through strong partnerships and the development of efficient supply chains. Dalrada Health Products is committed to solving universal health problems through improved methodologies resulting in products and services that benefit the global marketplace. For details, visit www.dalradahealth.com. For information on GlanHealth™ visit www.glanhealth.com
About Prakat Solutions
Prakat Solutions, Inc. is a technology solutions company specializing in test engineering, accessibility engineering, product engineering, and application modernization. The Company partners with clients to create transparent, value-based relationships by leveraging the extensive experience of its team and by providing innovative solutions in a wide range of technology domains that ultimately enable customers to successfully attain their business goals. The Prakat work culture is based on the belief that, "We believe in what we do; we do what we love." Prakat is an ISO 9001-certified company with several Fortune-ranked customers. With its main engineering center in Bangalore, India, the company also has offices in Dallas, Texas, Denver, Colorado, and San Diego, California. The Prakat team provides end-to-end product engineering services across various domains including banking and financial services, telecom, retail, healthcare, manufacturing, legal, and IT infrastructure. For more information, please visit www.prakat.com.
About Dalrada (DFCO)
Dalrada Financial Corp. (OTCQB: DFCO) solves real-world problems by producing innovation-focused and technologically centered solutions on a global scale. Delivering next-generation manufacturing, engineering, and healthcare products and services designed to propel growth, Dalrada is a team of industry experts and an organization built upon a strong foundation of financial capital. The Company and its subsidiaries are positioned for stable long-term growth through intelligent market research, sound business acumen, and established operational infrastructure. For more information, visit www.dalrada.com or call 1-858-283-1253.
Statements in this press release that are not historical facts are forward-looking statements, including statements regarding future revenues and sales projections, plans for future financing, the ability to meet operational milestones, marketing arrangements and plans, and shipments to and regulatory approvals in international markets. Such statements reflect management's current views, are based on certain assumptions and involve risks and uncertainties. Actual results, events, or performance may differ materially from the above forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including, but not limited to, our ability to obtain additional financing that will allow us to continue our current and future operations and whether demand for our products and services in domestic and international markets will continue to expand. The Company undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that occur after the date hereof or to reflect any change in the Company's expectations with regard to these forward-looking statements or the occurrence of unanticipated events. Factors that may impact the Company's success are more fully disclosed in the Company's most recent public filings with the U.S. Securities and Exchange Commission ("SEC"), including its annual report on Form 10-K.
SOURCE Dalrada Financial Corp.