OXFORD, Miss., July 17, 2006 (PRIMEZONE) -- Energy Vision International (Pink Sheets:EGVI), a rapidly growing diversified energy company announces its subsidiary American Geothermal has been awarded a new contract to replace existing heat pump units with the DeMarco Energy Miser heat pumps at the Riata Resort Apartment Community in Austin, Texas.
The Riata Resort Apartment Community complex consists of 2,200 high quality condominiums that was once considered one of the largest single concentrations of apartments in the U.S.A. www.riata.com http://www.riata.com/ The complex is owned by Jerry Jones, the owner of the Dallas Cowboys.
The entire office, workout facility, and meeting area are geothermal and we are in the process of decommissioning all the old inefficient equipment and installing new DeMarco Energy Miser Units. Total job is estimated at 60 tons. The cost of change out is $2,500.00 per ton. At the completion of the initial retro-fit phase, the company will bid for each successive phase thereafter.
Victor DeMarco CEO of EGVI's subsidiary American Geothermal, commented: "Contracts such as the Riata job are extremely important to the company. Aside from the additional revenue it provides a long-term source of work enabling us to plan more efficiently into the future."
Chairman of EVI, Anthony Welch added: "We continue learning from the operational activities of American Geothermal and we intend replicating this successful business formula in future EVI subsidiaries."
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.