VAN NUYS, Calif., June 16, 2020 (GLOBE NEWSWIRE) -- Eco Innovation Group, Inc. ("ECOX" or the "Company") (OTC: ECOX), an innovative company aggregating investments in new technologies that are environmental friendly, promote green energy and are socially responsible, announced today the Exclusive Global Licensing Agreement with the Bellagio IP Trust for the ECOX Power BoosterTM.
The ECOX Power Booster™ utilizes proprietary technologies incorporating electricity and magnetism, and a high-speed switching technology enabling the generation of a greater out-put of energy.
Paul Delano, ECOX’s technology lead on the Power Booster™ project, commented:
“We learned from Faraday almost 200 years ago that the reciprocal relationship between electricity and magnetism establishes practical applications that are almost limitless. The problem was that we did not have the high speed, high voltage and high amperage electronic switching technology to capture all the symbiotic energy in a magnetic field.”
“The goal is to harness the energy converted in a magnetic field. By utilizing permanent magnets with an electromagnetic field, we are able to increase the size of the field without requiring more electricity. This proprietary approach allows for the creation of additional energy through the conservation of gravity which is directly proportional to the induction of the magnetic field. The high speed switching technology acquired by ECOX, that is necessary to accomplish this has only become available in the last 5-6 years and this allows us to generate more energy without using more Power In.”
The Company expects that customers will gain an immediate increase in usable power in their homes as a result of using its new ECOX Power Booster™. For example, using the Power Booster™, a customer may expect to increase the usable energy in a home leveraging 880 watts of power to expansively produce useful power of 2200 watts, while saving approximately 60% on their electric bill.
The power used in the above example can come from the grid or solar panels, which are so widely available and used today. Using the Power Booster™, customers to avoid having to pay the utility for the extra power generated by the Power Booster™ and can save almost 12,000 kWh annually with one ECOX Power BoosterTM..
The Company expects that the Power Booster™ will carry a suggested MSRP of $4,995 and 100% financeable on approved credit, payments are as low as $95 month for 5 years on approved credit.
The official launch of the product in the marketplace is anticipated by 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