Gold River Productions Inc. (OTC: GRPS) Announces Receipt of a Letter of Intent From Phoenix Energy Products
07 July 2010 - 2:01PM
Marketwired
John Ohlin, President and Chief Executive Officer of Gold River
Productions (PINKSHEETS: GRPS), and its wholly owned subsidiary
AeroQuest Technologies announces it has received a letter of intent
from Phoenix Energy Products to place a guaranteed "soft" order and
become a primary distributor and Integrator of AeroQuest's
monolithic, photo voltaic(PV) roof systems.
The PV market is expanding exponentially reports Mr. Ohlin. "In
the U.S. alone, photo voltaic installations increased 63% in 2008
(the most recent data) versus 2007. Our PV roof systems are being
initially targeted for the commercial building industry, which in
May of 2010; saw 52 construction starts of at least $50 million,"
reported Mr. Ohlin.
"Typical commercial roof installation costs approximately $20.00
per square foot and although our roof systems cost more initially,
with the currently available federal and state tax incentives our
cost equals that of existing, non-PV technology. The exciting
aspect of our technology is that at a similar cost, a developer or
building owner gets a roof system that has a 30% to 50% higher R
value (R-42), pays for itself in 18 months or less and then through
the Federal mandate for utility companies to purchase excess
electricity generation, the roof system contributes to its owners
bottom line for years to come," reports Mr. Ohlin.
"Our model is based on a typical 20,000 square foot concrete
tilt-up commercial building which would have 200 kw generating
capacity," Mr. Ohlin reports. "Based on this model, we are
forecasting third year sales of 60 roof systems with $35.8 million
in sales."
AeroQuest Technologies was the 2007 winner of the Stoel-Rives
sponsored, Utah Innovations Award for the technology of the year in
the Materials/Chemicals category of the award. Visit the AeroQuest
Technologies website at www.atpanels.com
Except for historical information contained herein, the
statements in this release are forward-looking statements that are
made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties that
may cause the company's actual results in future periods to differ
materially from forecasted results. Such risks and uncertainties
include, but are not limited to, market conditions, competitive
factors, the ability to successfully complete additional financing
and other risks.
Contact: John Ohlin 801-523-2744
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