Corporate Background and Strategy

FUTREX^® Corporate
Background and Strategy

FUTREX Inc. is a privately held Delaware corporation founded in 1986 and headquartered in North Charleston, SC. FUTREX relocated to the Charleston area in 1995 from Northern Virginia because of the opportunities for project funding and manufacturing resources brought about by the industrialization of the former Charleston Naval Complex. The offices are located on the former complex, at 1210 Truxtun Ave.

FUTREX's sole enterprise is the successful development and worldwide commercialization of its promising System 21 transit technology. FUTREX has financed its operations and the development of System 21 to-date through the creative use of Federal grants and loans, and the proceeds from private placements of FUTREX common stock.

The Company is led by a four member Board of Directors and has built a sound, conservative business strategy, focusing on the carefully planned development of System 21 in five distinct phases:

Phase I consisted of research and development, followed by extensive peer review and independent evaluation and validation by leading experts and government-sponsored studies.
Phase II , which FUTREX completed on May 31, 1996, involved the successful construction and demonstration of a functioning $1.6 million quarter-scale model of System 21 in Charleston, SC.
Phase III , currently in progress, will involve the construction, demonstration, and acceptance of an initial full-scale installation of the System 21 technology.
Phase IV , volume commercial production, will begin when FUTREX receives orders and ramps up production, most likely during the final acceptance stages of the first full-scale installation.
Phase V , if market demand warrants, will focus on development of a high-speed version of System 21 for the short-haul, intercity rail passenger market. Supported by independent evaluation, FUTREX engineers have concluded that System 21 has high-speed potential of over 100 mph.

Each phase of System 21's development will be overseen by FUTREX's management team , which combines years of transportation and transit experience, rail project management and engineering expertise. To minimize costs while obtaining necessary resources, FUTREX has developed a Project Team of skilled and capable firms and individuals. The Project Team includes industry leaders and respected firms such as Battelle Memorial Institute , Charleston Marine Manufacturing Corporation, DMJM+Harris , Gangloff AG. , and SYSTRA Consulting, Inc. FUTREX continues to expand and utilize the resources of the Project Team as the design, fabrication, construction and testing of System 21 proceeds.


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