DETROIT, July 9, 2009 (GLOBE NEWSWIRE) -- Energy 1 Corporation (Pink Sheets:EGOC) announced today that it has signed a letter of intent with Montreal-based Aviron Institute of Technology.
According to the Letter of Intent, the Aviron Institute of Technology will provide research and development assistance to Energy 1 Corp. and provide up to $1 million in research and development credits and grants.
"Aviron is a leading technical institution with state-of-the-art facilities which will help us complete the testing of our commercial/residential and automotive units and make them ready for commercial deployment," said Robert Wilson, President of Energy 1 Corp. "Their funding in the form of grants and tax credit incentives will enable us to double our efforts and have a unit available on the market soon," further added Mr. Wilson.
About Energy 1 Corporation
Energy 1 Corporation is a US-based Energy Research and Development Corporation, which is developing a long-life energy generator and storage systems for residential, commercial and transportation industry.
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