OXFORD, Miss., July 10, 2006 (PRIMEZONE) -- Energy Vision International (Pink Sheets:EGVI), a rapidly growing diversified energy company, is awarded new business on the Lake Travis luxury apartment development.
American Geothermal was awarded the contract for 29 additional units at the complex. The villas are undergoing refurbishment and existing heat pumps will be replaced in a select few at the express wish of the new occupiers. The company will offer one-time equipment upgrades to future owners of the current unsold villas. This will result in further orders for an additional 80 to 100 new units within the next 30 days.
The first phase to upgrade these 29 units adds $86,000.00 of new income for the Company.
Victor DeMarco CEO of American Geothermal commented; "The Island Development continues to provide an excellent source of continued revenue and puts us firmly on course to meet our projected sales targets for 2006. Many other benefits are derived from our involvement in this project notwithstanding the positive publicity and referral business generated since the early occupiers are now experiencing substantially lower heating and cooling bills."
Chairman of EVI, Anthony Welch added; "This project demonstrates the company's ability to compete for large and small geothermal business. We have ambitious plans drafted for 2007 to capitalize on our long unbroken industry experience by laying new foundations for significant growth. As stockholders can see, we are building both revenues and profits quickly. We will release stockholder guidance in the fall on our revenue estimates and the status of our domestic and international expansion."
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has three subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.