TAMPA, Fla., Nov. 10, 2004 (PRIMEZONE) -- Internal Hydro International Inc. (OTCBB:IHDR) www.internalhydro.com announces that the Company has entered into a purchase agreement with El Tigre Development Inc. (Other OTC:ETIG) for the purchase of 100 Energy Commander Units. The purchase price of the 100 units will be $2,250,000.00 for placement by ETIG in the United States and elsewhere. The agreement calls for IHDR and ETIG to share in revenue generated from each unit beyond the purchase price.
The Energy Commander technology uses IHDR's patented low impact hydro technology utilizing water or gas flow from any source where pressure is present. The technology uses water or gas pressure from man made sources such as industrial or municipal flows, or natural sources such as streams or rivers wherever pressure is present and wasted. IHDR is now entering into the deployment phase of units under its business plan.
"We now have a major partner in ETIG to locate our environmentally friendly energy systems. Our business plan for Phase II, which called for placement of 20 units is now filled. The operations and fielding of Phase II is now secure, and all units are committed for that phase," said Craig Huffman, CEO and President of Internal Hydro International Inc. "We now have two great partners to field and utilize the product in their applications, and we anticipate much larger orders as Phase II develops from ETIG. This agreement calls for eight cylinder units which provide 25 kilowatts of electricity," Huffman stated. "The units to be provided under the agreement will be the EC IV 'B' units, which are to be made in Tampa. The other units in Phase II will be placed pursuant to our contract in Arizona."
Further details of the agreement will be released later. The first ten units will be set for delivery in early 2005. ETIG recently announced they are moving into the environmentally friendly energy market.
Forward-Looking Statements: This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, successful integration of acquisitions, the ability to secure additional sources of financing, the ability to reduce operating expenses and other factors. The actual results that the company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.