VAN NUYS, Calif., June 19, 2020 (GLOBE NEWSWIRE) -- Eco Innovation Group, Inc. ("ECOX" or the "Company") (OTC: ECOX), an innovative company aggregating investments in new technologies that are environmentally friendly, promote green energy and are socially responsible, announced today that it is moving from Stage 3 testing for its latest energy saving innovation called PoolCooled™.
ECOX uses a 9 Step Process to Market Successfully determine if a new product merits acceptance by the Company:
- Idea Generation
- Idea Screening
- Concept Development and Testing
- Market Strategy Development
- Business Analysis
- Product licensing and/or deal structure with the inventor/innovator
- Product Development
- Test Marketing/Promotion
- Commercialization
The PoolCooled™ product utilizes proprietary technologies to take cool water from an existing swimming pool and loop it through residential air conditioning systems to provide air conditioning for the home. This process is expected to yield savings of up to approximately 50% off an average existing residential electric bill. A side benefit is that the recycled pool water warms the pool at no extra expense. The PoolCooled™ technology can also be used for hotels and motels to offer a more comfortable pool temperature for the guests while cooling the reception and common areas of the property.
Lance Nist, ECOX’s lead inventor of the PoolCooled™ technology, commented, “Pools have historically been known to be very expensive to maintain properly and the electric bill skyrockets during the summer months when power is in short supply. This technology pays for itself in a couple of years but the benefits last for up to 20 years.”
The Company uses “The ECOX 9 Step Process to Market Success” when they roll out new and innovative products. By carefully following this process the Company feels it is able to decrease the inherent risk in developing new products.
Julia Otey, CEO of the ECOX, says, “We are fast tracking the PoolCooled™ technology with the first installation in Riverside, CA just in time for summer”. ECOX has agreed in principle to work with the inventor team to get the PoolCooled™ product to market as soon as possible. The official launch of the product in the marketplace is currently scheduled for Q-3 2020.
For more information, visit www.ecoig.com
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
Corporate Contact:
Eco Innovation Group, Inc.
Julia.Otey@ecoig.com
www.ecoig.com