OXFORD, Miss., June 2, 2006 (PRIMEZONE) -- Energy Vision International (Pink Sheets:EGVI), a rapidly growing diversified energy company, announces its subsidiary American Geothermal has signed a new residential contract.
Construction has just commenced on a highly prestigious 6,000sq ft residential property designed by the "American Institute of Architects National Firm Award" winners for 2004, Lake/Flato (http://www.lakeflato.com). This is the second contract awarded to American Geothermal by this company.
The house comprises four separate structures connected by open air breezeways. 6 DeMarco Energy Miser units will be installed providing 22 tons of heating and cooling. The property borders Lake/Flato and American Geothermal engineers will sink 2 Geothermal Lake Plates in the lake and connect to the Energy Miser units.
The contract adds a further $78,000.00 of income to the Company and surpasses American Geothermal total earnings for 2005. Activity has accelerated at a rapid pace since March as announced in our frequent shareholder news bulletins. We remain firmly on course to meet our target of $1,000,000.00 for 2006 and realize a 300% increase over income earned in 2005. This revenue projection is limited solely to American Geothermal and does not include projections for our other subsidiaries or new acquisitions under consideration for 2006.
Anthony Welch, Chairman of EVI commented, "The quickness by which we secure new business is encouraging. This new contract for our geothermal system is a positive indicator for our future growth. Shareholders should expect more growth and new additions to our portfolio of energy companies."
About the Company
Energy Vision International grows through energy-related acquisitions, marketing its patented geothermal water-air heating/cooling systems, and sales of energy conservation solutions. The company has three subsidiaries at present with plans for more.
The company's subsidiary, DeMarco Energy Systems of America, Inc. (http://www.demarcoenergy.com), has geothermal installations in Oregon, Pennsylvania, Washington, Montana, South Dakota, Mississippi, California and Texas. EVI's primary focus is to provide energy efficient technologies to commercial and institutional markets through the application of the DeMarco 'Systems' patents and other acquired technologies. For more information, visit http://www.energyvisionintl.com
Safe-Harbor Statement
This press release contains statements (such as projections regarding future performance) that are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to those detailed from time to time in the Company's filings with the Securities and Exchange Commission.