OXFORD, Miss., May 1, 2006 (PRIMEZONE) -- Energy Vision International (Pink Sheets:EGVI), a rapidly growing diversified energy company, issues an update to stockholders. Guidance for the remainder of 2006 shall follow in an upcoming release.
We have carefully grown EGVI into a burgeoning player in the energy sector. We have met every goal and continue delivering on our promises to stockholders. Our current operations consist of three subsidiaries: American Geothermal, DeMarco Energy Systems, and Energy Vision International UK. The company has more sector acquisitions under consideration to complement and enhance our operations and revenues. We issue the following brief update for each subsidiary:
DeMarco Energy Systems
We experience increased sales inquiries for our patented DeMarco Energy Miser system as a direct result of recent marketing campaigns. We initiated an intensive campaign promoting the Energy Miser system to Municipal Water Utilities in the USA. The patented design utilizes the existing network of water pipes and uses the thermal properties of this water source obviating the need to drill boreholes and install a separate closed loop array of pipes. The company has a final report from the Department of Energy containing findings and recommendation from several eminent professionals. The DOE report endorses the use of the Energy Miser system in conjunction with the Municipal Water Supply. We believe our expanding relationships with water associations nationwide will lead to a significant increase in new business opportunities.
American Geothermal
American Geothermal has recruited additional staff to take immediate advantage of this new business. The company's products were recently exhibited at the trade shows earlier this year and we are pleased to announce significant new business has been won as a direct result. Orders have been signed for several new residential installations and are scheduled to commence in the coming weeks. American Geothermal continues to be awarded additional design, engineering and installation work at the prestigious Island on Lake Travis development. Our revenue expectations for this subsidiary for 2006 of $1,000,000.00 is likely to be revised upwards as the year progresses.
Energy Vision International, UK
EVI UK has commenced commercial operations. The political climate and timing of the UK launch fits perfectly with announcements made last week by the UK government to allocate significant funding in the form of grants. The scheme would see householders, schools and businesses offered grants to install solar panels, wind turbines and ground source heat pumps. Geothermal ground/water heating and cooling technology is still relatively new to the UK and the company is positioning itself to become a leading player in this very lucrative market.
Ongoing Business Development
We actively recruit qualified alliance partners. We target businesses partners involved in home construction, architects and HVAC to join us and establish new operating companies in all areas of the USA, Caribbean and Europe. We are negotiating with three recent applications and hope to announce new additions to our alliance partner network soon.
Energy Vision International is on a rapid growth and expansion track based upon revenue growth through key acquisitions, energy technology distribution, international licensing of its patented geothermal technology, and seeking acquisitions congruent with energy conservation and supporting industries. This strategy lays the groundwork for consistent introduction of energy-related technologies and continuing revenue growth for the company and its shareholders.
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.