KELOWNA, British Columbia, July 20, 2005 (PRIMEZONE) -- EPOD International Inc. (OTCBB:EPOI) (Frankfurt:EDU), a developer of advanced energy management technologies that significantly increase the efficiency of electrical power devices, announces the Company has entered into a joint-venture agreement to acquire a solar panel manufacturing facility.
EPOD, in conjunction with its joint-venture partner, Mr. Peter Lacey, is to acquire a 51% controlling interest in Heliodomi S.A. (www.heliodomi.com), a thin-film, amorphous silicon solar panel manufacturing plant. The facility, when complete, will also provide building-integrated photovoltaic ("BIPV") manufacturing capacity.
Execution of the agreement follows EPOD's recent announcement where the Company made clear its intent to increase its focus on the global solar power market.
"The addition of solar panel capacity allows us to offer turn-key solar solutions when combined with EPOD's advanced Inverter and power management technology," said Mark Roseborough, EPOD President. "It's a key building block in our effort to become a leading renewable power vendor, and a perfect complement to the rest of our product line," added Roseborough.
Closure of the agreement is subject to certain government approvals and to the Company obtaining adequate financing.
L. Mark Roseborough President EPOD International Inc.
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.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: The statements in this release relating to completion of the acquisition and the positive direction are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties which may arise, and the ability to obtain the necessary financing. The completion of this acquisition is subject to certain other risks and uncertainties 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, 2004 filed on or about March 30, 2005, and incorporated herein by reference.
The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.