BOULDER, Colo., Dec. 15, 2004 (PRIMEZONE) -- Energy Conservation Technologies, Inc. (Pink Sheets:ENYC), an energy saving and power product company ("Econ"), has filed for European Patent protection for its landmark U.S. patent No. 6,359,395 covering electronic ballasts and power supplies.
Econ's Chairman, Fazle Quazi, explained that, "Securing European patents is a part of the ongoing process of protecting our landmark inventions throughout the world as we continue to expand our technologies based upon it. Our business has reached the point of requiring foreign protections even faster than we anticipated." Mr. Quazi added that, "The inventions as described in the patent are unique and fundamental in nature. This makes it possible to achieve the highest power conversion efficiency while significantly lowering product cost. The global industry is eagerly waiting for this type of breakthrough."
The inventions as described in our patent are the foundation for developing our product line. However, as new products are being perfected, there will be needs for additional patents to protect each individual product. Econ technology is used for electronic ballasts for the lighting and automotive industry and power supplies for solar, fuel cells and telecommunications markets.
The European Patent Office has 36 member countries comprising over 550 million inhabitants, a market significantly larger than the U.S. Due to its larger size and greater emphasis on energy-saving lighting, the European market for HID ballasts such as Econ's is over $3,000,000,000 (US$3 billion) annually.
About Energy Conservation Technologies, Inc.
Energy Conservation Technologies, Inc. is a cutting-edge technology company developing better and more energy-efficient electronic devices. Econ holds a U.S. patent for "Control Circuit for power factor corrected electronic ballasts and power supplies," patent No: 6,359,395, granted on March 19, 2002, developed by Econ founder Fazle Quazi. The current patent covers power factor corrections and controlling energy into bulbs and power supplies such as: computer servers, copy machines, compact fluorescent lamps, HID bulbs, power supplies to the telecom industry, inverters used to convert DC power to AC power (120 Volts), automobiles specialty lighting, solar and wind power generators, and fuel cells.
Econ is already drafting new patent applications for lighting industry designs after extensive testing. These new designs will revolutionize the HID lighting industry, annually a $2 billion dollar market in the United States and over $10 billion internationally. Econ's HID electronic ballasts will be available at costs comparable to magnetic ballasts, but will reduce ballast weight to 1/10th that of current magnetic ballasts and will use approximately 35% less electrical energy than current magnetic ballasts.
Discussions are now in progress with a major lighting manufacturer in Mexico and with a Fortune 500 company regarding licensing our patents and future patent filings.
FORWARD LOOKING STATEMENT DISCLAIMER:
Statements describing objectives or goals or our future plans are forward-looking statements and are subject to certain risks and uncertainties, including among other factors our financial performance, our ability to license or market our new designs and the performance of those designs, the market for ballasts, and other technological developments in ballasts and lighting in general, which could cause actual results to differ materially from those projected in this release.