MELBOURNE, Fla., Sept. 11, 2008 (GLOBE NEWSWIRE) -- Alternative Construction Technologies, Inc. (OTCBB:ACCY) announced today that it has entered into an exclusive supplier agreement with Alvarez Construction Group, Inc. of Florida. Alvarez Construction Group (ACG) is an emerging developer and an "on-site" builder of SHIP (State Housing Initiative Partnership) homes, "custom" affordable housing and low cost communities for elderly and retirees on fixed budgets. ACG is a design build firm that can also provide custom commercial and/or residential general contractor services, subcontractor services or developer services. Alvarez Construction Group has contracted to use the Alternative Construction Technologies' (ACT) ACTech(r) Panel system exclusively as its structural wall and roof components in all of its non-lumber and non-block construction jobs.
Joint marketing efforts will address many of the challenges faced by governments and consumers with various types of "affordable" housing needs in the Northern and Eastern coastal regions of Florida, where potential severe weather phenomena and daily or seasonal vacillations in temperature exist. The resulting benefits are that those who are forced to live under difficult budgetary constraints can enjoy confidence in the safety and security of their dwelling while also realizing significant monthly savings in utility, maintenance, and insurance expenses. Alvarez Construction Group aims to provide energy efficient and weather resilient buildings that are Class-1 fire rated and present excellent energy efficiency that often result in up to 70% less in monthly energy expenses. The constructed homes are expected to receive LEED (Leadership in Energy and Environmental Design), Florida Green Building Coalition, EnergyStar and/ or Florida BuildSmart certifications and may also provide eligibility for certain property insurance discounts of between 12-70% in Florida.
Alvarez Construction Group is a growing company in the state of Florida licensed to provide development services, underground work, and general contracting. Alvarez Construction will also offer its buildings in combination with solar and other sustainable technology options.
Mike Alvarez, CEO for Alvarez Construction, stated, "In seeking to be compliant with FEMA projectile testing and provide superior energy efficiency ratings, we believe that Alvarez Construction's ambition and expertise together with the ACTech(r) Panel system will offer an unprecedented building solution for the elderly and those in need of affordable housing. If we go beyond the disaster and energy efficient capabilities and offer renewable energy and water technologies, we feel we can provide state-of-the-art occupancy in affordable and sustainable buildings for the budget minded."
"Alvarez Construction supports our belief that the market is moving towards lower cost green building and sustainable construction solutions," commented A.J. Francel, Chief Executive Officer for Alternative Construction Technologies, Mr. Francel further added, "We expect that this will be the first of many partnerships designed to achieve that goal."
Alternative Construction Technologies, Inc. (ACT) possesses a unique and patented construction technology called the ACTech(r) Panel System that is used in the design and erection of state-of-the-art "green" buildings in commercial, residential, industrial, military, pre-engineered and modular building applications, as well as patented safe rooms. Generically known as structural insulated panel (SIP), ACT's revolutionary and efficient construction solution utilizes an inherently better "next generation", galvanized steel "skin" SIP system to complete energy efficient, stronger, safer, faster, Class-1 fire rated and more economical structures than conventional wood and brick based building products or first generation SIP products. The patented ACTech(r) Panel is environmentally-friendly and easier to construct with - not only saving labor cost and cutting construction time, but also reducing recurring monthly heating and cooling energy bills consistently by 30-50% and often as much as 70%. Very importantly, the ACTech(r) Panel possesses disaster resistant strength and has tested stronger than conventional concrete block or wood frame construction. In combination with FEMA compliant hurricane projectile tests, the ACTech(r) Panel continues to meet the most stringent wind, projectile and uplift codes in the nation levied by the 2006 Florida Building Code. The ACTech(r) Panel System offers builders and consumers many competitive and comparative advantages of use due to its wide range of attributes. As severe weather phenomenon continues to intensify, needs for more energy efficient buildings amplify, this new construction technology gains awareness, or hurricane and tornado-prone states establish new building codes and rebuild from recent weather disasters, ACT believes its products will be in greater demand. ACT has recently added ancillary services, including design, consulting and construction through its various general contracting subsidiaries. When specifying the ACTech(r) Panel System as the "green" structural building material into any construction application, it is most probable that a LEED (Leadership in Energy & Environmental Design), Florida Green Building Coalition, FP&L (NYSE:FPL) BuildSmart and/or Energy Star rating will be readily achieved.
State Housing Initiative Program (SHIP): This program is designed to provide financial assistance to very-low, low and moderate income applicants/households to acquire their first home that will be used as their principal place of residence. Financial assistance will be provided in the form of a mortgage which is due upon sale, transfer or conveyance of the property. If the loan conditions are not violated at the end of 30 years, the loan is forgiven. The State's fiscal year for the SHIP Program begins on July 1, 2008 and it ends June 30, 2009. SHIP funding makes homeownership affordable for prospective very-low, low and moderate income first time home buyers. Funds may be used as gap financing to buy down purchase price, rehabilitate existing property (expending no more than $5,000) and/or closing costs.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products, which we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets.