TAMPA, Fla., April 3, 2006 (PRIMEZONE) -- Internal Hydro International Inc. (OTCBB:IHDR) (www.InternalHydro.com) announces that it has received the first scheduled materials concerning due diligence of the CAVD technology purchase from EFTI's subsidiary division WESCO. As part of the due diligence agreement and schedule, IHDR has received the first scheduled installment under the terms of the LOI. The first portion being the intellectual property, patent materials, and cost verifications for the Mobile, Alabama CAVD prototype facility. EFTI's recent release that the WESCO division would be moved from EFTI will have no effect on the timeline or actions under the LOI. IHDR is satisfied with the materials provided thus far and each party is committed to not only carrying on the timeline, but exploring ways to expand the relationship and agreement.
Under the time schedule, Wesco will also be operating the Mobile Facility in full production for examination by IHDR during April, 2006. Wesco has already hosted IHDR personnel at the Mobile facility, with ensuing approval of IHDR's experts of the facility. IHDR is working with European partners and parties for the immediate implementation of the CAVD technology in Europe. IHDR also has access to a manufacturer for the CAVD plants in Europe. Under the LOI, IHDR will be purchasing the Mobile facility, along with licensed rights for the European Union, and two states, being Alabama and West Virginia, with additional rights of first refusal for Tennessee, Illinois, Louisiana, Texas and Minnesota. EFTI will receive certain set amounts per state licensed, for the licensing into the EU and royalties per plant built.
"We are pleased with the intellectual property diligence received, and the accounting for the cost of the asset to be acquired from the Mobile facility," stated Craig A. Huffman, President and CEO of IHDR. "With the relationship between IHDR and the Wesco team this transaction will run smoothly."
"Due to the exceptional lines of communication that exist between our companies, we have been able to complete the initial phase of the due diligence ahead of schedule," stated Phillip Rappa, Wesco President and CEO. Rappa further stated, "We expect that the entire due diligence cycle will be completed within the time frame allotted, with a minimum of delays."
Importantly, IHDR will be implementing the deployment of its Energy Commander technology in both North America and Europe, and will be tying such deployment, where possible to the use of CAVD plants. Such uses for the Energy Commander in gas flows is use for the EC has always been known to exist since the technology was created since it can use both gas and liquid flows.
The CAVD technology was developed by EarthFirst to recycle tires and other waste by heating the material without burning it. The technology evolved from the Company's close working relationship with Oak Ridge National Laboratory and scientists from the newly independent states of the former Soviet Union. Based on the CAVD technology, EarthFirst's proprietary tire processing system produces usable energy and a broad range of valuable by-products, including steel, carbon, oils similar to kerosene and diesel fuel, and an energy-dense gas. EarthFirst burns tires in a vacuum at a third of the typical pyrolysis temperature, preserving tire components and satisfying even the strictest emissions regulations (as verified by Oak Ridge). The EarthFirst process relies on proprietary catalysts to convert tires at rapid rates. From a typical 20-pound passenger tire, EarthFirst's CAVD technology can recover nine pounds of carbon, for the manufacture of polymers; one gallon of oils, which can be used as fuels or industrial process oils; two pounds of steel; and 30 cubic feet of combustible gases to generate electricity. The Company's prototype, fully operational plant is located in Mobile, Alabama.
About Internal Hydro International, Incorporated
Internal Hydro International, Inc. is an alternative energy company that developed a clean energy power system, the Energy Commander Systems, which utilizes a patented technology using waste water, fluid or gas flow from any source where flow pressure is present, and yet wasted, to create electricity. Internal Hydro has grown into a multi-national enterprise with international contracts spanning over three continents. Internal Hydro is well positioned to gain major market share and dominate the niche of hydro energy and expansion into other renewable energy areas in the fragmented alternative energy marketplace. For more information, please visit the company's Web site at www.InternalHydro.com.
About EarthFirst Technologies, Incorporated
EarthFirst Technologies, http://www.earthfirsttech.com, is a specialized holding company engaged in researching, developing and commercializing technologies for the production of alternative fuel sources and the destruction and/or remediation of liquid and solid wastes, and in supplying electrical contracting services to commercial and government customers internationally. Through its subsidiary World Environmental Solutions Company (WESCO), EarthFirst markets solid waste remediation plants utilizing a proprietary Catalytic Activated Distillation (CAVD) process, which is a superior technology developed by EarthFirst to recycle rubber tires and other waste by heating the material without burning it. Through its subsidiary Electric Machinery Enterprises, Inc., http://www.e-m-e.com, the Company provides electrical contracting services both as a prime contractor and as a subcontractor, electrical support for industrial and commercial buildings, power generation stations, and water and sewage plants in the US and abroad. Through its subsidiary EarthFirst Americas, Inc., the Company is engaged in the global development, marketing and distribution of biofuels.
Investors are cautioned that certain statements contained in this document as well as some statements in periodic press releases and some oral statement of IHDR officials are "Forward-Looking Statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Forward-looking statements include statements which are predictive in nature, which depend upon or refer to future events or conditions, which include words such as "believes," "anticipates," "intends," "plans," "expects," and similar expressions. In addition, any statements concerning future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, and possible future IHDR actions, which may be provided by management, are also forward-looking statements as defined by the Act. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance, or achievements expressed or implied by such forward-looking statements and to vary significantly from reporting period to reporting period. Although management believes that the assumptions made and expectations reflected in the forward-looking statements are reasonable, there is no assurance that the underlying assumptions will, in fact, prove to be correct or that actual future results will not be different from the expectations expressed in this report. These statements are not guarantees of future performance and IHDR has no specific intention to update these statements.