Zircon Corporation Enters Into Partnership Agreement With Harmony Energy Technologies

CIOTechOutlook Team | Friday, 21 April 2023, 03:47 IST

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Zircon Corporation stated that it and Harmony Energy Technologies Corp. ("Harmony") have signed a merger agreement.  The combined company will operate under the name Zircon and will be focused on utilising Zircon's sensor-based, ASIC processor technology and patent portfolio to accelerate growth through the launch of a data, IP, and technology licencing business as well as the expansion of its electronic hand-tool product line and global market expansion. 
 
Harmony is a firm that files reports with the U.S. Securities and Exchange Commission (SEC).  Zircon anticipates that its combination with Harmony will speed up the process of becoming a publicly traded business and gaining access to the American capital markets. 
 
With a 46-year history, Zircon is centered on building on its leadership in designing and developing innovative hand tools and maintaining a dominant market share.
 
The Company's multi-faceted strategy spans new product development, entry into adjacent markets, global expansion and data, IP and technology licensing.  Leveraging its technology and manufacturing resources, Zircon believes it is well-positioned to capitalize on the growing need for advanced construction tools across multiple industries including commercial building, government infrastructure, and building information modeling. 
 
"Backed by our talented team, proprietary technology and state-of-the-art manufacturing facilities, we believe we have ample opportunity to expand our business and deliver profitable growth," commented John Stauss, Chief Executive Officer of Zircon.  "Through this merger and a subsequent public listing, we strengthen our ability to execute on our growth plan and move forward with new technological solutions to a wider range of global markets."
 
For Zircon, Pickwick Capital Partners LLC served as the sole financial advisor.  Zircon received legal advice from Sheppard, Mullin, Richter & Hampton LLP.  Harmony was represented by Anthony L.G., PLLC.
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