Essential Innovations Technology provides Annual Update to the Investment Community
October 30 2006 - 8:30AM
Business Wire
Essential Innovations Technology Corp. (OTCBB: ESIV) is truly
pleased to be able to provide this corporate recap to its
shareholders and the investing public. Says Jason McDiarmid,
President/CEO, �As our Company fast approaches the Fiscal Year end
at October 31st, we wish to report to the investment community that
we are extremely happy with the significant growth and positive
strides the Company has made over this last year. The Company
successfully completed the acquisition of Earth Source Energy in
the second quarter, and since then has experienced tremendous
upward momentum. We are actively working on dozens of residential
and commercial projects in the Canadian marketplace, and we are
also consulting, designing and negotiating multiple further
large-scale projects in the USA, Mexico, the Middle East and China.
In recent news announcements we have spoken much about China, and
the efforts of the Company to aggressively seek relationships in
the Chinese marketplace that would allow us to expand our
operations and technology application potential. Our efforts in
this regard have been particularly fruitful with the execution of a
JV for the manufacturing of our proprietary geothermal heat pump
equipment and an MOU granting exclusivity to a truly unique
geothermal loop-field technology that substantially reduces the
geo-field infrastructure cost. In the coming weeks and months we
look forward to updating our investment base on each of these
active Chinese business relationships as they continue to evolve
and flourish. Finally, amidst all of our on-going Geoexchange
projects and global manufacturing & distribution initiatives,
we are striving to finalize contracts that relate specifically to
both a previously announced drilling company acquisition, and a
high-profile sustainable community project whereby the Company is
to exclusively provide the engineering, installation, equipment
supply, service, maintenance and long-term geothermal utility
solution. With all of these tangible business directives in place
and a socio-economic environment that puts renewable energy
technologies and innovative �green� development solutions at the
vanguard, the future of our organization appears incredibly bright
and prosperous.� 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
Corp. provides cutting-edge Geoexchange solutions for residential,
commercial and institutional applications as both a Geoexchange
energy service company and as a manufacturer of proprietary
geothermal heat pump technology. The Company 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 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 truly pleased to be
able to provide this corporate recap to its shareholders and the
investing public. Says Jason McDiarmid, President/CEO, "As our
Company fast approaches the Fiscal Year end at October 31st, we
wish to report to the investment community that we are extremely
happy with the significant growth and positive strides the Company
has made over this last year. The Company successfully completed
the acquisition of Earth Source Energy in the second quarter, and
since then has experienced tremendous upward momentum. We are
actively working on dozens of residential and commercial projects
in the Canadian marketplace, and we are also consulting, designing
and negotiating multiple further large-scale projects in the USA,
Mexico, the Middle East and China. In recent news announcements we
have spoken much about China, and the efforts of the Company to
aggressively seek relationships in the Chinese marketplace that
would allow us to expand our operations and technology application
potential. Our efforts in this regard have been particularly
fruitful with the execution of a JV for the manufacturing of our
proprietary geothermal heat pump equipment and an MOU granting
exclusivity to a truly unique geothermal loop-field technology that
substantially reduces the geo-field infrastructure cost. In the
coming weeks and months we look forward to updating our investment
base on each of these active Chinese business relationships as they
continue to evolve and flourish. Finally, amidst all of our
on-going Geoexchange projects and global manufacturing &
distribution initiatives, we are striving to finalize contracts
that relate specifically to both a previously announced drilling
company acquisition, and a high-profile sustainable community
project whereby the Company is to exclusively provide the
engineering, installation, equipment supply, service, maintenance
and long-term geothermal utility solution. With all of these
tangible business directives in place and a socio-economic
environment that puts renewable energy technologies and innovative
"green" development solutions at the vanguard, the future of our
organization appears incredibly bright and prosperous." 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 Corp.
provides cutting-edge Geoexchange solutions for residential,
commercial and institutional applications as both a Geoexchange
energy service company and as a manufacturer of proprietary
geothermal heat pump technology. The Company 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 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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