OXFORD, Miss. 12/20/2005 06:00 AM GMT (TransWorldNews)
DeMarco Energy Systems of America, Inc. (Pink Sheets:DMES) is pleased to report that its newly acquired subsidiary, American Geothermal, has been awarded a major geothermal contract to commence immediately.
Victor DeMarco, CEO of American Geothermal, has reported that work is underway to install DeMarco Energy Geothermal Heat Pumps at 'The Island on Lake Travis' condominium complex in Austin, TX. The contract requires American Geothermal to replace 80 existing units with the potential for additional equipment installation in the future after condo sales have been completed.
The Island on Lake Travis was built in 1987 and comprises of 206 luxury condominiums. The system was originally designed as a geothermal pump and dump system using the lake water as the heat source and heat sink then returning the water through decorative waterfalls back to the lake. American Geothermal has been commissioned to repair and replace all the units in the condominiums with phase two being the common areas estimated at approximately 200 additional tons of heating and cooling.
Vice President of Project Management for the Island on Lake Travis, Mr. Tom Deloye, commented, "The owner's decision to install geothermal technology during construction in 1987 was based on the following factors: No visible and noisy outdoor equipment, space savings and energy efficiency." Mr. Deloye continued, "They made an aggressive decision in 1987 to include, what was a relatively new technology. However, 18 years later, the benefits derived from the geothermal experience meant their decision to continue with the same technology proved to be a very simple one."
Anthony Welch, Chairman of DeMarco Energy, added, "This is excellent news, our conservative revenue expectations for American Geothermal in 2006 was earlier projected to be $1,000,000.00. We have achieved a significant percentage of next year's target before the year has begun. Our plans to rapidly expand the company into an international powerhouse progresses by leaps and bounds. We could not be more excited."
About the Company
Energy Vision International expanded its business plan in 2005 to include energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, sales of energy conservation solutions. The company has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit the company's web site at: http://www.demarcoenergy.com.
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.
CONTACT: DeMarco Energy Systems of America