KELOWNA, British Columbia, Feb. 16, 2005 (PRIMEZONE) -- EPOD International Inc. (OTCBB:EPOI), a developer of advanced energy management technologies that significantly increase the efficiency of electrical power devices, today announces that it has entered into an agreement with Simmax Energy (CA), LLC, to install EPOD's electric power storage system, the EPOD EMT.
Simmax Energy, a distributed power generation vendor providing onsite electric power and heating to industrial and commercial customers, has agreed to install EPOD's proprietary EMT energy storage system at a client site. The installation of the EMT is to reduce the client's electric power costs. The lower power costs will come through a combination of 'peak shaving', a process whereby electric power is purchased and stored during less-expensive, off-peak periods for subsequent use during peak business hours, and the reduction of standby and demand charges.
The EPOD EMT, the Company's core product offering, is an energy storage and peak-shaving system that allows commercial and industrial power users to dramatically reduce their electric power expenses. This occurs by giving users first ever access to less-expensive off-peak power pricing from their local utility during peak periods. The EPOD EMT is also ideally suited to the onsite or distributed generation markets, allowing users to sell surplus electricity to their local utility.
This is the initial installation of the EPOD EMT and is to be operated and maintained by EPOD for a period of five (5) years, during which approximately 50% of energy savings will be paid to EPOD. Closure of the deal is subject to ratification by the board of Simmax.
"This is an excellent opportunity for us to showcase the benefits of the EMT in an industrial application," commented Mark Roseborough, EPOD President. "This particular installation provides us with a perfect environment to demonstrate the value proposition of the EMT," added Roseborough.
L. Mark Roseborough President EPOD International Inc. For more information please contact: Brett Walker Telephone: (604) 669-0600 Fax: (604) 662-4929
About EPOD: EPOD International Inc. is a leader in the development of advanced energy management technologies with real-world market applications. The Company's patent-pending 'Energy Pod' technology manages and manipulates electrical energy such that utilization of DC-electric battery power becomes significantly more efficient. EPOD's patent-pending and proprietary technologies are applicable to a wide variety of industries and applications, and are available through licensed OEM's and directly to end-users.
About SIMMAX: Simmax Energy is an independent power producer that provides electrical and thermal energy to customers on their site with a Combined Heat and Power (CHP) system. Simmax Energy currently owns and operates ten CHP systems powered by microturbines or reciprocating engines. The sites are located throughout Southern California, primarily in Santa Barbara, Orange County, and San Diego County.
Simmax Energy and its sister companies, Adco Power and Simson Maxwell, are wholly owned subsidiaries of Simmax Corporation. Simmax Corporation is a privately held company headquartered in Edmonton, Canada.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements relating to research, development and deployment operations of the Company regarding the EPOD EMT. The claims of energy saving are based on preliminary developmental tests and have not been independently verified. There is no assurance these developments or results can be replicated. There is no assurance of the amount of any energy savings by using the Company's products or that the referenced Board will approve the transaction. There are no assurances that this technology can be further developed into a widely marketable product or that it will succeed for the client site identified. Further development, product success, product integration and marketability are subject to certain risks and uncertainties such as research and development, unproven technology, independent testing, integration into a widely marketable product, market forces, competition, financing and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's 10-KSB for year ended December 31, 2003 filed on or about March 30, 2004, and incorporated herein by reference.
The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.