RENO, Nev., March 7, 2007 (PRIME NEWSWIRE) -- eHolding Technologies, Inc. (Pink Sheets:EHDT) today announced that the company has completed a funding agreement with the German-based investment syndication, USA Renditefonds 1, that will provide $5 million to the Company. The company will use the proceeds to participate in the rapidly growing structural integrated panels (SIPs) marketplace.
The debt financing will be completed by the end of June. The funds will be used for working capital, purchase of equipment, and selection of SIPs manufacturing sites for the Company.
According to eHolding Technologies CEO Doug Hamby, "We are dedicating all of our resources to establish the company's presence within the structural insulated panels (SIPs) industry. With this funding in place, we now have the capacity to launch a targeted and effective marketing campaign that will take advantage of the interest that has already been expressed nationwide in SIPs and fulfill strong initial demand."
Homes featuring structural insulated panel (SIPs) construction are able to be built more quickly than conventional stick-built homes, and enjoy 5 star energy level designations because they offer significantly lower costs for heating and cooling. They are "green" in that they are comprised of recyclable materials, virtually eliminating waste. They can withstand hurricane winds of 200 mph, and can absorb earthquakes in excess of 5.0 points on the Richter scale.
Safe Harbor Statement
Statements contained in this release, which are not historical facts, may be considered "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations and the current economic environment. We caution the reader that such forward-looking statements are not guarantees of future performance. Unknown risk, uncertainties as well as other uncontrollable or unknown factors could cause actual results to materially differ from the results, performance, or expectations expressed or implied by such forward-looking statements.