Dalrada Acquires Cutting-Edge Scottish Green Energy Company

Dalrada Financial Corp. (OTC Pink: DFCO) announced that is has acquired Scotland based low carbon, green energy company, Likido Limited.  The move comes amidst the company's accelerated strategic global expansion, along with adding capabilities to its already developed manufacturing and engineering solutions.

Likido manufactures high-temperature industrial heat pumps that provide heating and cooling without combustion. Likido aims to reset the world's expectations for industrial heating and cooling by replacing traditional water heaters, steam boilers, chillers and cooling towers, and reduce energy consumption and carbon emissions by over 75%.  Likido technology provides one of the few recognized routes to achieving zero carbon emissions in the heating and cooling sector. Likido systems use a non-toxic, non-flammable, environmentally inert, CFC/HFC free "natural working fluid."  The technology is future proof, enhancing the energy efficiency of both fossil and renewable power sources by only using 25% of the energy of traditional boilers and electric heaters.  "Globally, the International Energy Agency (IEA) estimates that the heating and cooling sector could contribute the largest portion of carbon savings by 2030.  Our partnership with Dalrada will fulfill our vision to maximize our potential together," said Likido CEO Stuart Cox. 

Likido estimates revenues of $250,000 for quarter ending December 30, 2019, including a short-list of Fortune 500 customers indicating desire to use Likido systems to reduce costs and environmental impact of their operations in 2020.  Revenue forecasts for the company exceeds $4MM for fiscal year 2020.  

The purchase is for 100% ownership of Likido LLC in exchange for Six Million One Hundred Eighteen Thousand (6,118,000) common equity shares of Dalrada Financial Corporation.  Additional details of the transaction will be included in the MD&A for the three months ending December 30, 2019.

"Dalrada is in the business of discovering products and solutions for niche markets that align to our corporate strategy by offering innovation that meet unmet needs worldwide.  Likido is a true innovator in the low carbon clean energy space, with a talented and experienced management team, and we are excited to help take it to the next level," said Dalrada CEO Brian Bonar.

Likido is headquartered in Edinburgh with operations in Loanhead, along with other established locations in Hong Kongand Malaysia.

Dalrada | www.dalrada.com 

Likido | www.likido.net