Quantum Energy Inc. and Inductance Energy Corporation announced that they have entered into a binding letter of intent, pursuant to which upon satisfaction of certain conditions, IE Arizona, Inc., would be merged with Quantum. Also, upon completion of the merger, William J. Hinz, who is currently a member of the Board of Directors of Quantum and a member of the Board of Directors and CEO of IEC, will become interim Chief Operating Officer of Quantum. Mr. Hinz’ vast business experience and board appointments will be an immeasurable asset to Quantum’s current energy projects and strategic vision.