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Steve Rotman
May 28, 2019
Vystar acquires green energy firm for $100K in stock
Worcester rubber latex manufacturer and eco-friendly solutions firm Vystar Corp., led by Steve Rotman, has acquired the assets of a California green energy company for $100,000 and will apply those technologies to vape pens.
That company is Fluid Energy Conversion, which controls patented and proprietary technology to harness sound energy to destroy bacteria and viruses, improve water processing and irrigation and enhance chemical reactions.
The sale price includes 2.5 million shares of Vystar’s stock. All shares will be restricted and subject to a lock-up, Vystar said in a Tuesday announcement.
Vystar said it plans to apply the technology to vape pens to improve substance delivery and control dosage.
FEC is investigating the use of the technology in water filtration to improve dialysis efficiency and to incorporate the technology in an air purifier, the RxAir system, owned and marketed by Vystar.
“Fluid Energy Conversion has multiple R&D initiatives relating to environmentally friendly product development and distribution that has the potential to revolutionize multiple industries and substantially improve our RxAir air purification systems which we anticipate will catapult it to lead the competition,” Rotman said in a press release.
Prototype testing for the air purifier system is expected to begin this quarter, Rotman said.
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