CLEVELAND, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Markets: IVST) (the “Company” or “Innovest”), a conglomerate with operations in commercial and industrial products and services, biotechnology, and construction & building materials, announces that the Innovest Energy Group has sold five (5) Demand Cost Reduction (DCR) solutions since April, 2018 representing $958,000 in base charges and forecasted billing of $1.1 million for these DCR contracts.
Yesterday, the team closed it’s fifth contract, this one $376,392, confirming the potential growth and recent success of this new solution from the Innovest Energy Group, which is part of the commercial and industrial division.
Our March 16, 2018 news release stated that we “executed a strategic partnership agreement to begin production of its new, proprietary Demand Cost Reduction solution. This technology reduces the demand charge by 50% - 70% for qualified commercial and industrial clients. SES expects to begin installations on customer sites by the end of the 2nd quarter.” On cue, the first of several sales proposals was signed and announced a month later, and the sales pipeline is now extensive and growing.
“Our platform of procurement and efficiency solutions will soon see this high ticket, unique solution supercharge our sales, being one of our Energy Group’s largest forecasted revenue line-items in 2019. It is another solution we offer with the option of zero out-of-pocket costs through our LEEP financing program,” said Damon Mintz, Innovest Global President and former head of the commercial and industrial division which launched the DCR earlier this year.
More about DCR:
The DCR System is a primary metering system. It can be constructed within a metal box, or we can install a utility pole and mount it at the top. It steps in between the unmitigated electricity flow and the client, eliminating up to 50-70% of wasted demand charge, reducing electricity cost by 30-40%. It is ideal for manufacturers and others with high energy use, and is an installed product with a six-figure price.
About Innovest Global, Inc.
Innovest Global, Inc. (OTC Markets: IVST) is a conglomerate with operations in three divisions, which include commercial and industrial products and services, energy, biotechnology, health sciences, construction, and building materials. The primary growth strategy of Innovest Global Inc is to acquire existing companies in a select few industries and attract new customers in cost effective ways. Currently, Innovest Global Inc has a Commercial & Industrial Division, a Biotechnology & Health Services Division, and a Construction & Building Materials Division.
For more information, please visit: http://www.innovestglobal.com, and follow us on Twitter and Facebook @innovestglobal.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein are included in the Company's filings with the OTC Markets. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
Contact Information
Corporate Office:
(216) 815-1122
Twitter @innovestglobal
Investor Relations:
Hayden IR
(917) 658-7878
hart@haydenir.com