VAN NUYS, Calif., March 11, 2021 (GLOBE NEWSWIRE) -- Eco Innovation Group, Inc. (OTC: ECOX) ("ECOX" or the "Company"), an innovative company aggregating investments in new technologies that promote environmental and social well-being and the advancement of green energy solutions, is excited to announce the signing of a Letter of Intent (the “LOI”) with Fluitron, Inc. (“Fluitron”), a Pennsylvania-based advanced pressure technology manufacturing company, for the development and manufacturing of a fully functional prototype based on the specialized non-CO2 supercritical extraction technology licensed to ECOX by Glytech, LLC (“Glytech”), as announced by the Company on March 4, 2021.
According to the LOI, Fluitron is in the process of further development of a prototype of the patent-pending technology for ECOX. Once this process has been completed, the Company will be able to proceed with commercial development.
The prototype will be based on Glytech’s innovative supercritical extraction technology, for which the Company now holds an exclusive license. This technology utilizes a non-CO2 solvent and cofactors to extract selected bioactive compounds from plant materials to create a fluid output that is superior in viscosity to the output of current CO2 -based extraction methods, while streamlining time, energy, and capital costs. This technology is ideal for reproducibly isolating compounds such as licensed Cannabis extraction products and active compounds for the pharmaceutical, nutraceutical and other markets.
“Fluitron has been a market leader in pressure and extraction engineering expertise for more than 40 years. We know that this innovative technology is in the best place for development,” commented Julia Otey-Raudes, President and CEO of Eco Innovation Group. “We believe this technology represents a revolutionary step in extraction technology for high-value plant-based products, including Cannabis products. I look forward to providing further updates as we move this process forward.”
About Fluitron
Fluitron Incorporated is a manufacturing company specializing in high pressure equipment since 1976. Fluitron’s workforce is devoted to providing exceptional products and service.
About Eco Innovation Group
Eco Innovation Group was founded by Inventors and Business Professionals to help nurture and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value to our shareholders. At ECOX, we are dedicated to developing and commercializing successful products. But we will never lose sight of the fact that we exist, first and foremost, to help people and improve life on the planet we all share. We take our Social Responsibility Contract seriously in all our endeavors. It is not only what we do. It is who we are. 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
Public Relations:
EDM Media, LLC
https://edm.media
(800) 301-7883