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Renewable Energy Resources, Inc.
Internal Hydro Entry Into European Joint Venture to Provide Asset Base of Up to $40,000,000 and 350,000 Sq. Ft. Production Facility
TAMPA, Fla., July 11, 2006 (PRIMEZONE) -- Internal Hydro International Inc., (OTCBB:IHDR) (www.InternalHydro.com), by entering into an initial agreement for entry into a European joint venture with Energia Futura S.r.l. of Italy, will gain access to an estimated hard asset base of $40,000,000 and receive backed capital for 85% of production costs. With a targeted location of a 350,000 square foot facility, situated on 50 acres in Narni, Italy, for the location of four companies' production facilities, IHDR will be a co-owner of the hard assets of the Joint Venture. The ownership of the associated property would include the assets on site, as well as the machining, structure, transportation assets, and other on site property which would be owned by the Joint Venture. The site, located at a closed steel manufacturing facility located in Narni, is to be, and has been financially backed by both private and public entities for the creation of employment in the region, with the location of renewable energy based companies, such as IHDR. IHDR will have units built by Cm2, its European licensee, initially in the third quarter at their existing Terni, Italy facility, until the Joint Venture location is finalized and readied for occupancy and production. Over $10,000,000 has already been invested at the location by local and state entities to ready it for new industrial capacity.
First Post-Katrina 'Sustainable Building' Project Breaks Ground in New Orleans
NEW ORLEANS, July 11, 2006 (PRIMEZONE) -- HomeAid, the country's leading non-profit developer of transitional housing, has joined forces with Tulane University's School of Architecture to initiate the first post-Katrina sustainable building project in the City of New Orleans, where much attention is being placed on the opportunity to rebuild better, smarter and more efficiently for the future. The project, a 4,400 square foot, two-story Family Center that will house families displaced by the hurricane, breaks ground today and is being privately funded through a $3 million partnership between HomeAid and Ameriquest Mortgage Company and its affiliates Argent Mortgage Company and AMC Mortgage Services. The Family Center will be built on the site of the historic New Orleans Rescue Mission, located one quarter mile southeast of the Louisiana Superdome at 1130 Oretha Castle Haley Boulevard. New Orleans-based JaRoy Construction, Inc. will build the project, while Perez APC is serving as the project's architectural director, working in conjunction with Tulane University.