VAN NUYS, Calif., Oct. 06, 2020 (GLOBE NEWSWIRE) -- Eco Innovation Group, Inc. ("ECOX" or the "Company") (OTC:ECOX), an innovative clean tech incubator aggregating investments in new technologies that promote environmental and social well-being and the development of green energy solutions, announces the signing of a renewable energy technology manufacturing contract (the “Agreement”) for the manufacture of Renewable Energy power plants (the “Product”).
The Company has already received an initial payment of $100,000 for the first tranche of power plants to be manufactured.
“This is a significant event for our Company in several ways,” noted Otey-Raudes. “While we are undoubtedly excited to book this initial payment, we firmly believe it represents just the tip of the iceberg given the rising excitement we see attached to this technology as a revolutionary innovation in the clean energy space. The Agreement fits our strategic approach to environmental sustainability and socially responsible technology development, and offers an attractive value proposition to the individual and institutional consumers who are core to the sea change in energy use that Eco Innovation Group promotes. Environmental sustainability and social responsibility are central to this rapidly growing target market recognized for its growth prospects, driven by consumer preference, competitive imperative, regulatory impacts, investor mandates and capital markets.”
Under the terms of the Agreement, the Company will manage the installation of the Renewable Energy power plants for end-user customers. While this initial arrangement represents a contract for a single version of the Product, potential expansion into the manufacture of additional models is an included element in the Agreement.
According to the Agreement, Eco Innovation Group will provide supply base management, production of the Renewable Energy power plants, inventory of both work in progress and finished goods, physical delivery, and financial services relating to ownership of completed and installed units. The contract allows for expansion of the scope of services to include quality and service level agreements.
Management notes that, with this product, consumers can produce clean, green energy at a fraction of its typical cost. The core technology utilizes solar panels to qualify for available financial incentives as well as advanced magnetics and induction steam heating to produce clean, green, Renewable Energy 24 hours per day, seven days per week, 365 days per year.
For more information, visit www.ecoig.com.
About Eco Innovation Group
Eco Innovation Group was founded by Inventors and Business Professionals to help nurture and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value to our shareholders. At ECOX, we are dedicated to developing and commercializing successful products. But we will never lose sight of the fact that we exist, first and foremost, to help people and improve life on the planet we all share. We take our Social Responsibility Contract seriously in all our endeavors. It is not only what we do. It is who we are. For more information, visit www.ecoig.com.
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
Corporate Contact:
Eco Innovation Group, Inc.
Julia.Otey@ecoig.com
www.ecoig.com