CHARLOTTE, N.C., March 14, 2008 (PRIME NEWSWIRE) -- Double Eagle Holdings, Inc. (OTCBB:DEGH), announces today that it has invested an additional $50,000 in EffTec International, Inc. (EFFTEC) through a convertible debt offering to provide EffTec with marketing capital to promote sales of its product.
"Increasing energy prices have made EffTec's energy saving software application for centrifugal chillers a priority investment for DEGH," stated Hank Durschlag, President of DEGH. "EffTec has shown that Fortune 500 type companies have embraced its product, and now they have begun to expand into international markets. DEGH owns approximately 1% of EffTec, and can elect to convert this additional investment into additional shares at a later date," he concluded.
About EffTec International, Inc.
EffTec is the developer of EffTrack(tm), a powerful, easy-to-use, internet-based diagnostic tool for commercial and industrial chillers. EffTrack is the only web-based chiller management program that provides in-depth, around-the-clock engineering analysis and immediate recommendations for correcting inefficiencies. EffTrack provides the means to achieve, maintain, and verify optimum energy and cost efficiency. Using industrial grade sensors, state of the art boards, and proprietary software, EffTrack collects, analyzes and transmits clear, current information via the web. The accuracy of this information is unprecedented in the industry. By following EffTrack recommendations for improvement, plant operators can significantly lower the chiller kW/Ton, plant kW/h consumption, and greenhouse gas emissions. EffTrack is in use worldwide serving an extensive variety of businesses including a number of Fortune 500 companies. EffTec is an ENERGY STAR PARTNER and U.S. Green Building Council Member. (www.efftec.com).
About Double Eagle Holdings, Inc.
Double Eagle Holdings, Inc. (www.doubleeagleholdingsltd.com) is a closed-end investment company that invests in value-based opportunities that are typically either privately held or considered small or micro cap publicly traded companies. Double Eagle's investment objective is to generate both current income and long term capital appreciation through debt and equity investments. Double Eagle Holdings, Inc. is a registered business development company under the Investment Company Act of 1940 ("1940 Act").
Forward-Looking Statements in this news release are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks, and uncertainties and actual results could differ from those discussed. This material is information only, and is not an offer or solicitation to buy or sell the securities.