Genesis Electronics Group Announces First Binding Purchase Order

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Taylor Transport Signs Binding Purchase Order To Purchase First Glīd Units

Salt Lake City, UT, April 18, 2023 (GLOBE NEWSWIRE) — Genesis Electronics Group Announces First Binding Purchase Order

Taylor Transport Signs Binding Purchase Order To Purchase First Glīd Units

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Salt Lake City, UT – April 17, 2023 – Genesis Electronics Group, Inc. (GEGI), the maker of the autonomous road-to-rail patent-pending shipping technology, Glīd, announced that it has signed Its first purchase order with Taylor Transport, of Vancouver, WA.

The relationship between Taylor Transport and GEGI has progressed swiftly as the Companies have spent a significant amount of time together building out a solution for Taylor Transport to utilize Glīd’s autonomous vehicles to augment their existing transportation fleet.

As previously announced, Taylor Transport’s property has a rail spur of sufficient length that connects to a local short-line track where goods and services are shipped. Not only will this access serve as the proving ground for Glīd to test its beta units by picking up unmodified semi-trailers and moving them from road to rail and off again, but Taylor Transport will be able to immediately use these units within their yards to move freight around autonomously.

“We are thrilled that the Leboki family and Taylor Transport have decided to increase their level of commitment to their decarbonization efforts by signing a binding purchase order for the first two units Glīd will produce,” said Kevin Damoa, CEO of Genesis Electronics Group, Inc. “This belief in our product and level of commitment to both us and the environment supersedes our expectations at this stage of the business and is a strong signal to us and the market that there is a need for the Glīd technology and that the business economics can be highly advantageous for other trucking companies such as Taylor Transport.”

Mr. Damoa continued, “This Partnership truly marks an incredible milestone for our Company. Mr. Leboki has become a converted Brand Ambassador for Glīd and is providing his dedication, enthusiasm, and resources to allow Glīd to test and grow to become the revolutionary shipping technology we know it can be. With this partnership, we are confident we can bring Glīd to commercialization faster than we originally anticipated.”

Mr. Leboki, President of Taylor Transport commented, “The Glīd product and the leadership team at Genesis Electronics are the real deal. They have a very strong track record of producing cutting edge products for other significant companies, and from what we have seen, we believe in them so much we are willing to put our money where our mouth is by signing this binding purchase order for their first two units.”

As part of this strategic partnership purchase order, the details of the transaction will not be disclosed at this time.

About Genesis Electronics Group, Inc.

Genesis Electronics Group, through Its wholly-owned subsidiary Glīd, is building first of Its kind autonomous road-to-rail shipping vehicles called Glīders. Glīders will enable fully-loaded semi-trailers access to rails where traditionally it didn’t make sense. Genesis Electronics Group plans on owning and operating each Glīder in its fleet, and providing a “Glider-as-a-Service” business model.

Forward-Looking Statements

This press release may contain “forward-looking statements.” Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are included in our filings with the Securities and Exchange Commission, including the “Risk Factors” section of our annual disclosure report on the OTC Markets for the year ended December 31, 2020. Any forward-looking statement made by us in this release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as may be required under applicable law.

Press Contact:

Genesis Electronics Group, Inc.
[email protected]

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