BELLINGHAM, Wash., May 3, 2005 (PRIMEZONE) -- Essential Innovations Technology Corp. (OTCBB:ESIV) is pleased to announce that the Company has recently been approved and cleared by Nasdaq to commence trading on the OTC Bulletin Board under the symbol ESIV.
Essential Innovations Technology Corp. provides cutting-edge Geoexchange Solutions for residential, commercial and industrial applications as both a Geoexchange Energy Service Company and as a Manufacturer of proprietary Geothermal Heat Pump technology. The Company was incorporated in April 2001, and it has two wholly owned subsidiaries located in British Columbia, Canada and in Hong Kong SAR, China. Recently, the Company secured its first major Geoexchange project by obtaining exclusive rights to provide Geoexchange services and equipment to an entire subdivision plan for 70 luxury single-family homes in Westbank, British Columbia, through the application of a long-term Operating Lease. Further details on the project including terms can be obtained from the Company's recent 8-K filing of April 18, 2005.
"Through our 100% wholly-owned subsidiary in Surrey, British Columbia, we operate as a Geoexchange Energy Service Company (Contractor), utilizing proprietary turnkey geoexchange systems and solutions to deliver heating, cooling, dehumidification and domestic hot water supply. Our comprehensive one stop approach to geoexchange applications reduces the complexity of the technology and eliminates concerns over system design and performance," stated Jason McDiarmid, President & CEO of Essential Innovations Technology.
Essential Innovations Technology is currently pursuing multiple project opportunities and is on target for long-term sustained growth within the geothermal marketplace.
ON BEHALF OF THE BOARD "Jason McDiarmid" President & CEO
Safe Harbor Statements
Certain statements in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties. These statements include, but are not limited to, statements that do not describe historical facts and statements that include the word "will," "believes," "anticipates," "expects," "plans," "intends," "designs" or similar language, as well as statements regarding consumer, or marketplace acceptance of the Company's new or existing products; comments concerning marketing and consumer acceptance of proprietary products; the potential benefits of Essential Innovations products; initiatives undertaken by the Essential Innovations divisions; the Company's research, manufacturing and facilities expansion programs; and the Company's growth.
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