Essential Innovations Signs Exclusive Contract for Geothermal Loop-Field Technology
November 06 2006 - 8:30AM
Business Wire
Essential Innovations Technology Corp. (OTCBB: ESIV) is excited to
announce that it�s wholly-owned Canadian subsidiary, Essential
Innovations Corp., has signed an �Exclusive Technology Rights
Agreement� that gives the Company the exclusive global rights
excluding Asia, to market and private label a totally unique
geothermal loop-field technology under the Essential Innovations
brand name. Announced previously this month when the Company signed
an MOU in China, Essential Innovations has now proceeded to execute
an official exclusivity agreement with the ownership group for the
geothermal loop-field technology. Jason McDiarmid, President/CEO
said, �Since signing the MOU relating to this loop-field technology
earlier this month, our Company has been working diligently with
our technology partners to design systems for some of our projects
in Canada. We are excited to now have an official exclusivity
agreement in place, and we intend to begin to test and install the
technology on certain projects within the next 60-90 days,
remaining confident the results will show it to be just as
effective in Canada as it has been in China over the last number of
years. It seems clear that when applied, this unique ground-loop
technology has the capability to greatly minimize the amount of
land typically required for large vertical borehole matrix
geothermal loop-field designs. The fact it can be installed and
applied at a significant savings to standard borehole technology
makes the overall opportunity for this technology very timely,
given the already enormous demand that exists for current
conventional Geoexchange technology.� Essential Innovations now
intends to use this geothermal loop field technology whenever
possible 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. 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. 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 industrial applications
as both a Geoexchange energy service company and as a manufacturer
of proprietary geothermal heat pump technology. 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 it's wholly-owned Canadian subsidiary, Essential Innovations
Corp., has signed an 'Exclusive Technology Rights Agreement' that
gives the Company the exclusive global rights excluding Asia, to
market and private label a totally unique geothermal loop-field
technology under the Essential Innovations brand name. Announced
previously this month when the Company signed an MOU in China,
Essential Innovations has now proceeded to execute an official
exclusivity agreement with the ownership group for the geothermal
loop-field technology. Jason McDiarmid, President/CEO said, "Since
signing the MOU relating to this loop-field technology earlier this
month, our Company has been working diligently with our technology
partners to design systems for some of our projects in Canada. We
are excited to now have an official exclusivity agreement in place,
and we intend to begin to test and install the technology on
certain projects within the next 60-90 days, remaining confident
the results will show it to be just as effective in Canada as it
has been in China over the last number of years. It seems clear
that when applied, this unique ground-loop technology has the
capability to greatly minimize the amount of land typically
required for large vertical borehole matrix geothermal loop-field
designs. The fact it can be installed and applied at a significant
savings to standard borehole technology makes the overall
opportunity for this technology very timely, given the already
enormous demand that exists for current conventional Geoexchange
technology." Essential Innovations now intends to use this
geothermal loop field technology whenever possible 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. 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.
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 industrial applications as both a Geoexchange energy
service company and as a manufacturer of proprietary geothermal
heat pump technology. 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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