RESTON, Va., July 27, 2005 (PRIMEZONE) -- Triton Technologies (Pink Sheets:TNTG) today announced that the Company has entered into an exclusive licensing and distribution agreement with Internal Hydro International (OTCBB:IHDR) to sell and service IHDR's revolutionary Energy Commander (EC) hydropower systems in North America. IHDR's patented technology utilizes volume and pressure from water, air or gas such as city water mains, industrial pipelines, and other available yet wasted flow sources, to create electricity.
"We are excited to work with IHDR to bring their advanced hydropower technology to the North American Market," said Triton CEO Chris Zanardi. "The demand for renewable energy sources is growing exponentially, and the Energy Commander helps meet that market need while delivering to Triton multiple sources of recurring revenue."
The EC is capable of generating electricity from any source of pressurized water, fluid, or gas, effectively enabling the smallest facilities to generate "green" power and facilitate recurring revenues from tax credits, "green certificates", and the sale of generated electricity. The technology can be utilized in a comprehensive range of industrial, commercial, or residential applications with potential uses including residential off-grid communities, manufacturer, textile mills, chemical plants, offshore oilrigs, and onshore natural gas and oil pipelines.
"Triton is positioned to become a leader in the industrial and municipal renewable energy market," said IHDR CEO Craig Huffman. "We are extremely confident that they will deliver a quick and very successful market entry for the Energy Commander in North America."
With the high cost of fossil fuels, the massive infrastructure and capital requirements of large hydropower systems, and the lack of development of competing renewable energy technologies, small hydropower is emerging as one of the most promising new technologies in power generation. According to the market research firm Business Communications Company, revenues for small hydroelectric projects were $2.9 billion in 2003, and are expected to reach $6.0 billion in 2008. The Bush administration's climate change policy has proposed $7.1 billion in tax credits over 10 years to spur clean energy investments. The World Energy Council has estimated that the global market for renewable energy will be in the range of $234-$625 billion by 2010 and $1.9 trillion by 2020.
The EC has been field-tested and is ready for market release. Initial demonstrations of the technology are scheduled to take place in the United States and European Union during the third quarter of this year.
About Triton Technologies
Based in Reston, Virginia, USA, Triton Technologies is a single source supplier of renewable and clean technologies to the global commercial, industrial, municipal and federal marketplace. Triton plans to grow through the acquisition of distributor, manufacturing and licensing rights to innovative and market-ready environmentally friendly clean technologies that will produce significant and profitable revenue streams for the Company. For more information on the Company or the events above please contact Triton Technologies at 703.904.4390 or info@triton-technologies.com
This news release contains forward-looking statements within the meaning of Section 37 A of the Securities Act of 1933 and Section 21 E of the Securities Exchange Act of 1934 of the United States. These forward-looking statements involve risks and uncertainties. The Company undertakes no obligation to publicly update or revise the forward-looking statements whether as a result of new information, future events or otherwise.