Essential Innovations Signs MOU in China for Unique Geothermal Loop-Field Technology
13 October 2006 - 12:00AM
Business Wire
Essential Innovations Technology Corp. (OTCBB:ESIV) is excited to
announce that its wholly-owned Canadian subsidiary, Essential
Innovations Corp., has signed a Memorandum of Understanding that
gives the Company the exclusive global right to market and private
label a totally unique geothermal loop-field technology under the
EI brand name. Under the terms of the MOU, Essential Innovations
will now work hand-in-hand with its Chinese technology producer to
exploit this geothermal loop field technology as the ground
component option that will operate directly with the Company�s
proprietary leading-edge R410A, controls driven product line, the
EI Elemental Geoexchange Series. �Over the last decade earlier
stage development phases of this technology were effectively
utilized under a number of different ground conditions throughout
China on upwards of 30,000,000 sq.ft. of projects ranging from
single and multi-family to large institutional and commercial
building applications. With the operational success of the most
current and previously unknown design advancements to the
technology just recently having been demonstrated to our top
Geoexchange experts, it is felt that this technology is now ready
to be implemented on a grand scale around the World. We are
extremely optimistic about the widespread and near-term acceptance
of this geothermal loop-field technology, particularly when used
specifically in conjunction with our own EI Elemental Geoexchange
system product line,� stated Jason McDiarmid, President/CEO of
ESIV. Lynn Mueller, Vice-President of Earth Source Energy, the ESIV
wholly-owned operating subsidiary offering Geoexchange installation
and engineering services commented, �We immediately note that the
costs that relate to the installation and operation of this
geothermal loop-field technology are substantially less than those
associated with standard conventional geothermal loop-field
technology, making the opportunity for quick and aggressive market
adoption of this technology a reality. The requirement for large
amounts of land space to create conventional geothermal loop-field
capacity no longer exists with this technology. Having been
involved in the design, application, and installation of
Geoexchange technology for the last fifteen years, I see this as a
monumental leap forward in addressing the barriers to entry
commonly associated with the cost of the geothermal loop-field
infrastructure.� As the Company now prepares to commercially launch
this unique geothermal loop-field technology into the global
marketplace, it will now perform installation of the technology on
multiple residential and commercial project sites in North America
within the next 3-6 months, so as to absolutely assure the
technology�s operational performance outside of China. Essential
Innovations Technology Corp. provides cutting-edge geoexchange
solutions for residential, commercial and industrial applications
as both a geoexchange energy service company and as a manufacturer
of proprietary geothermal heat pump technology. The Company was
incorporated in April 2001, and it has four wholly owned
subsidiaries located in British Columbia, Canada and in Hong Kong,
SAR, China. Geoexchange technology harnesses the earth�s clean,
renewable thermal energy stored just below the surface or in large
bodies of water for purposes of heating, cooling, domestic hot
water and/or dehumidification. A Geoexchange system is used to
�exchange� the earth�s natural heating and cooling properties
between a building and the ground. This non-combustion transfer of
energy is the source of performance and environmental superiority,
as Geoexchange systems need only a small amount of electrical
energy to then capture, move and concentrate a large amount of free
energy provided by the earth. Essential Innovations Technology
currently has operations in the USA, Canada and Hong Kong;
exclusive distributors in Canada and Mexico; exclusive sales agents
or sales agents in Mexico, Hungary, China and Alaska; and the
Company is now actively seeking further distributors, dealers and
project opportunities throughout the North American and
international marketplace for its proprietary geoexchange systems
and solutions. Forward-Looking Statements This news release
contains "forward-looking statements," as that term is defined in
Section 27A of the United States Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Statements in this
press release, which are not purely historical, are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties. These statements include, but are not limited to,
statements that do not describe historical facts and statements
that include the word�"believes," "anticipates," "expects,"
"plans," "intends," "designs," �projects� or similar language, as
well as statements regarding�consumer or marketplace acceptance of
the Company�s new or existing products; comments concerning
marketing and consumer acceptance of proprietary products; the
potential benefits of Essential Innovations� products; initiatives
undertaken by the Essential Innovations� divisions; the Company�s
research, manufacturing and facilities expansion programs; and the
Company�s growth, revenue, or projected earnings; all such
statements which may or may not occur in the future. These
forward-looking statements are made as of the date of this news
release, and Essential Innovations Technology Corp. assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although we believe that the
beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no absolute assurance that
such belief, plans, expectations or intentions will prove to be
completely accurate. Investors should consult all of the
information set forth herein and should also refer to the risk
factors disclosure outlined in our periodic reports filed from time
to time with the Securities and Exchange Commission. Essential
Innovations Technology Corp. (OTCBB:ESIV) is excited to announce
that its wholly-owned Canadian subsidiary, Essential Innovations
Corp., has signed a Memorandum of Understanding that gives the
Company the exclusive global right to market and private label a
totally unique geothermal loop-field technology under the EI brand
name. Under the terms of the MOU, Essential Innovations will now
work hand-in-hand with its Chinese technology producer to exploit
this geothermal loop field technology as the ground component
option that will operate directly with the Company's proprietary
leading-edge R410A, controls driven product line, the EI Elemental
Geoexchange Series. "Over the last decade earlier stage development
phases of this technology were effectively utilized under a number
of different ground conditions throughout China on upwards of
30,000,000 sq.ft. of projects ranging from single and multi-family
to large institutional and commercial building applications. With
the operational success of the most current and previously unknown
design advancements to the technology just recently having been
demonstrated to our top Geoexchange experts, it is felt that this
technology is now ready to be implemented on a grand scale around
the World. We are extremely optimistic about the widespread and
near-term acceptance of this geothermal loop-field technology,
particularly when used specifically in conjunction with our own EI
Elemental Geoexchange system product line," stated Jason McDiarmid,
President/CEO of ESIV. Lynn Mueller, Vice-President of Earth Source
Energy, the ESIV wholly-owned operating subsidiary offering
Geoexchange installation and engineering services commented, "We
immediately note that the costs that relate to the installation and
operation of this geothermal loop-field technology are
substantially less than those associated with standard conventional
geothermal loop-field technology, making the opportunity for quick
and aggressive market adoption of this technology a reality. The
requirement for large amounts of land space to create conventional
geothermal loop-field capacity no longer exists with this
technology. Having been involved in the design, application, and
installation of Geoexchange technology for the last fifteen years,
I see this as a monumental leap forward in addressing the barriers
to entry commonly associated with the cost of the geothermal
loop-field infrastructure." As the Company now prepares to
commercially launch this unique geothermal loop-field technology
into the global marketplace, it will now perform installation of
the technology on multiple residential and commercial project sites
in North America within the next 3-6 months, so as to absolutely
assure the technology's operational performance outside of China.
Essential Innovations Technology Corp. provides cutting-edge
geoexchange solutions for residential, commercial and industrial
applications as both a geoexchange energy service company and as a
manufacturer of proprietary geothermal heat pump technology. The
Company was incorporated in April 2001, and it has four wholly
owned subsidiaries located in British Columbia, Canada and in Hong
Kong, SAR, China. Geoexchange technology harnesses the earth's
clean, renewable thermal energy stored just below the surface or in
large bodies of water for purposes of heating, cooling, domestic
hot water and/or dehumidification. A Geoexchange system is used to
"exchange" the earth's natural heating and cooling properties
between a building and the ground. This non-combustion transfer of
energy is the source of performance and environmental superiority,
as Geoexchange systems need only a small amount of electrical
energy to then capture, move and concentrate a large amount of free
energy provided by the earth. Essential Innovations Technology
currently has operations in the USA, Canada and Hong Kong;
exclusive distributors in Canada and Mexico; exclusive sales agents
or sales agents in Mexico, Hungary, China and Alaska; and the
Company is now actively seeking further distributors, dealers and
project opportunities throughout the North American and
international marketplace for its proprietary geoexchange systems
and solutions. Forward-Looking Statements This news release
contains "forward-looking statements," as that term is defined in
Section 27A of the United States Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Statements in this
press release, which are not purely historical, are forward-looking
statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties. These statements include, but are not limited to,
statements that do not describe historical facts and statements
that include the word "believes," "anticipates," "expects,"
"plans," "intends," "designs," "projects" or similar language, as
well as statements regarding consumer or marketplace acceptance of
the Company's new or existing products; comments concerning
marketing and consumer acceptance of proprietary products; the
potential benefits of Essential Innovations' products; initiatives
undertaken by the Essential Innovations' divisions; the Company's
research, manufacturing and facilities expansion programs; and the
Company's growth, revenue, or projected earnings; all such
statements which may or may not occur in the future. These
forward-looking statements are made as of the date of this news
release, and Essential Innovations Technology Corp. assumes no
obligation to update the forward-looking statements, or to update
the reasons why actual results could differ from those projected in
the forward-looking statements. Although we believe that the
beliefs, plans, expectations and intentions contained in this press
release are reasonable, there can be no absolute assurance that
such belief, plans, expectations or intentions will prove to be
completely accurate. Investors should consult all of the
information set forth herein and should also refer to the risk
factors disclosure outlined in our periodic reports filed from time
to time with the Securities and Exchange Commission.
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