Essential Innovations Signs Joint Venture Contract to Establish Manufacturing Plant in China
October 25 2006 - 8:30AM
Business Wire
Essential Innovations Technology Corp. (OTCBB:ESIV) is pleased to
announce that it has signed a contract to establish a joint venture
company in China for manufacturing of the EI Elemental Series of
proprietary Geoexchange systems currently being produced in Canada
by Essential Innovations Corp. (�EIC�), the ESIV wholly owned
subsidiary. The JV Company is to be a partnership between ESIV,
Jiangsu Sifang Culture Industry Co. and Ekistics Town Planning. It
is now planned that within 3-6 months the partners will work
together to have the plant in China up and running and into
full-scale production. Stated Jason McDiarmid, President and CEO of
Essential Innovations, �Manufacturing our technology in China will
allow us to be extremely well positioned to take advantage of the
enormous Chinese marketplace. In turn, it also allows us to become
highly price competitive in the North American market as we expand
on our existing distribution channels and project opportunities
around the United States and Canada, by providing a product that
will continue to meet our highest quality standards but that may be
produced and distributed at a significantly discounted cost.� The
structure of the JV contract calls for the parties to meet certain
capitalization and business registration requirements so that the
JV Company can be incorporated and operational in China within 60
days from the date of signing. About Essential Innovations
Technology Corp. Essential Innovations is a Geoexchange Energy
Service Company that utilizes proprietary turnkey Geoexchange
systems and solutions to deliver heating, cooling and
dehumidification, as well as domestic hot water to residential,
commercial and institutional applications. The Company�s unique
�one-stop-shop� approach to Geoexchange technology applications
incorporates all the requisite pockets of technological expertise
required for �best-practices� design and implementation in one
integrated package. Additionally, Essential Innovations
manufactures and distributes its cutting-edge Geoexchange System,
the �EI Elemental Series.� The EI Elemental family of products is a
high-efficiency, eco-friendly comfort system providing heating,
cooling, dehumidification as well as domestic hot water production
for residential, commercial and industrial applications. Utilizing
specifically R410A, the new industry-standard environmentally
friendly refrigerant, and a proprietary controls package, the EI
Elemental family of products ranges in size from 1.5 to 30 tons for
forced-air heating/cooling, hydronic radiant floor heating, or a
combination of both. Essential Innovations currently has operations
in the United States, Canada and Hong Kong; exclusive distributors
in Canada and Mexico; and exclusive and non-exclusive sales agents
in Mexico, Hungary, China and Alaska. Additional information may be
found at www.eitechcorp.com and www.earthsource.ca. 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
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. 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 pleased to announce
that it has signed a contract to establish a joint venture company
in China for manufacturing of the EI Elemental Series of
proprietary Geoexchange systems currently being produced in Canada
by Essential Innovations Corp. ("EIC"), the ESIV wholly owned
subsidiary. The JV Company is to be a partnership between ESIV,
Jiangsu Sifang Culture Industry Co. and Ekistics Town Planning. It
is now planned that within 3-6 months the partners will work
together to have the plant in China up and running and into
full-scale production. Stated Jason McDiarmid, President and CEO of
Essential Innovations, "Manufacturing our technology in China will
allow us to be extremely well positioned to take advantage of the
enormous Chinese marketplace. In turn, it also allows us to become
highly price competitive in the North American market as we expand
on our existing distribution channels and project opportunities
around the United States and Canada, by providing a product that
will continue to meet our highest quality standards but that may be
produced and distributed at a significantly discounted cost." The
structure of the JV contract calls for the parties to meet certain
capitalization and business registration requirements so that the
JV Company can be incorporated and operational in China within 60
days from the date of signing. About Essential Innovations
Technology Corp. Essential Innovations is a Geoexchange Energy
Service Company that utilizes proprietary turnkey Geoexchange
systems and solutions to deliver heating, cooling and
dehumidification, as well as domestic hot water to residential,
commercial and institutional applications. The Company's unique
"one-stop-shop" approach to Geoexchange technology applications
incorporates all the requisite pockets of technological expertise
required for "best-practices" design and implementation in one
integrated package. Additionally, Essential Innovations
manufactures and distributes its cutting-edge Geoexchange System,
the "EI Elemental Series." The EI Elemental family of products is a
high-efficiency, eco-friendly comfort system providing heating,
cooling, dehumidification as well as domestic hot water production
for residential, commercial and industrial applications. Utilizing
specifically R410A, the new industry-standard environmentally
friendly refrigerant, and a proprietary controls package, the EI
Elemental family of products ranges in size from 1.5 to 30 tons for
forced-air heating/cooling, hydronic radiant floor heating, or a
combination of both. Essential Innovations currently has operations
in the United States, Canada and Hong Kong; exclusive distributors
in Canada and Mexico; and exclusive and non-exclusive sales agents
in Mexico, Hungary, China and Alaska. Additional information may be
found at www.eitechcorp.com and www.earthsource.ca. 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
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. 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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