TAMPA, Fla., Feb. 15, 2007 (PRIME NEWSWIRE) -- Internal Hydro International, Inc. (OTCBB:IHDR) (www.internalhydro.com) today announced that it is changing the name of the Corporation to Renewable Energy Resources, Inc. The name change comes on the heels of the Company's announcement of new executive management. The new name reflects the Company's broader range of business endeavors to include the development of energy, green energy and biofuels projects in addition to the continuing production, marketing and sales of the Energy Commander V.
"President Bush asked Congress and America's scientists, farmers, industry leaders and entrepreneurs to join him in pursuing a reduction of U.S. Gasoline by 20 percent in the next ten years," says Ken Brown, Chief Executive Officer. "For too long, our nation has been dependent on oil, leaving us vulnerable to hostile regimes and terrorists who can cause huge disruptions to the flow of oil, raise the price of oil, and do great harm to our economy. Our government, our citizens and our marketplace demand solutions."
Mr. Brown continues, "Renewable Energy Resources will never lose focus on the Energy Commander technology -- it is our core; but we will also ardently seek promising new technologies as well as the chance to develop energy projects within this new paradigm. The opportunity for a renewable energy company has never been greater."
"The company is looking hard at biofuels and other energy projects," states Chief Operating Officer, Ed Hart. "The reality is that we may never see $20 per barrel crude oil prices again. There are some exciting projects out there that now make sense."
"Over the next few weeks, Renewable Energy Resources will transition its website to reflect this philosophy," says Mr. Brown. "When projects and developments are ready for publication, a section on the website will be created so that shareholders and potential investors can monitor the status. We want good communication with our stakeholders and will work hard to ensure a good flow of information."
The new name will become effective with the Stock Transfer Agent, Island Transfer, and the NASD on February 20, 2007. The new stock symbol for the company will be immediately announced when received from NASD, which set the symbol release for Friday February 16, 2007.
About Renewable Energy Resources:
Renewable Energy Resources, Inc. is an alternative and conventional energy company developing and acquiring technologies that create energy and fuel from previously untapped sources. Renewable Energy Resources is the new name of Internal Hydro International, Inc. (OTCBB:IHDR) and is based in Tampa, Florida.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.