BELLINGHAM, Wash., May 5, 2008 / — Essential Innovations Technology Corp. is pleased to announce that Mr. Stephen Clevett, President & CEO of Optimira Energy Canada, Ltd. (”Optimira”), has officially joined the ESIV Board of Directors.
“With the inclusion of Mr. Stephen Clevett to the ESIV Board of Directors, we continue to make great strides towards our goal of attracting to the Company external skills and guidance from individuals with powerful credentials and proven industry prowess in their particular or chosen fields of expertise. Mr. Clevett has extensive background in the financing, structuring and operation requisites that apply to traditional conventional ESCO projects. He now brings this skill set to ESIV and gives our Company the benefit of an inherent advantage when we enter into negotiations and ultimately look to facilitate Geoexchange ESCO projects. Mr. Clevett’s direct ESCO experience combined with his business and finance background, makes him a wonderful complement to the last Board addition we had made in latter 2006, of Mr. Salvador Diaz-Verson, the former President/CIO of AFLAC and founder of Miramar Securities a registered broker/dealer in Atlanta, Georgia. Mr. Diaz-Verson had initially brought to the ESIV Board of Directors a history of truly top-level world-class finance and capital market knowledge, and with the formal addition of Mr. Clevett now complete we are nearing our final objective of having a totally independent, superlative Board membership that can help our management team to enhance and bring further credibility to our current and future business. Mr. Clevett joining our team is representative of our successful pursuit of specific endeavors that will help to enhance our Board and ultimately that will help us to flourish and to achieve our long-term growth plan for the Company,” commented Jason McDiarmid, President/CEO of ESIV.
Said Stephen Clevett with regards to his addition, “Jason McDiarmid and his team have done an incredible job in positioning ESIV for growth. I have been particularly impressed with the company’s unique “one-stop shop” approach, as an ideal methodology for geoexchange technology application that will help to ensure successful, trouble free performance for ESCO project opportunities that exist for ESIV as this ‘line of attack’ clearly reduces technological uncertainty and concerns over geoexchange system design and performance. Geoexchange technology is proven through 20 plus years of successful implementation and is well documented as exhibiting the lowest greenhouse gas emissions of all “green” technologies available today. I am especially looking forward to working with and learning from the great board members who have guided this leading-edge company’s inspiring resurgence and to being involved with assisting management in furthering the company’s development of what the Environmental Protection Agency and the U.S. Department of Energy recognize as the most energy-efficient, environmentally clean, and cost effective technology for space conditioning available today.”
Mr. Stephen Clevett is an entrepreneurial leader with diverse financial, managerial and operational expertise. During his career as a high-level executive with a multitude of energy based companies and financial institutions he has led multi-disciplinary teams on complex infrastructure development, construction, start-up, operations, and asset and risk management in firms ranging from $5MM – $420MM in annual revenues, while having been involved in the direct management of nearly $2 billion of structured asset-backed financings during the course of his career. He has an MBA from the Rutgers Graduate School of Management and he additionally possesses a Bachelor of Engineering from Stevens Institute of Technology.
Essential Innovations Technology Corp. provides cutting-edge Geoexchange solutions for residential, commercial and industrial applications as both a manufacturer of proprietary geothermal heat pump technology and as a Geoexchange energy service company. The Company was incorporated in April 2001, and it has four wholly owned subsidiaries located in British Columbia, Canada and in Hong Kong, SAR, China.
Geoexchange technology harnesses the earth’s clean, renewable thermal energy stored just below the surface or in large bodies of water for purposes of heating, cooling, domestic hot water and/or dehumidification. A Geoexchange system is used to “exchange” the earth’s natural heating and cooling properties between a building and the ground. This non-combustion transfer of energy is the source of performance and environmental superiority, as Geoexchange systems need only a small amount of electrical energy to then capture, move and concentrate a large amount of free energy provided by the earth.
For Investor Relations Inquiries related to ESIV please contact: Allegiant Financial Group @ 1 866 669 8098 ESIV Direct Corporate Contact: Jason McDiarmid President & CEO Tel: 360-392-3902 Fax: 360-733-3941 jmcdiarmid@eitechcorp.com www.eitechcorp.com
Forward-Looking Statements
This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such forward-looking statements involve risks and uncertainties. These statements include, but are not limited to, statements that do not describe historical facts and statements that include the word “believes,” “anticipates,” “expects,” “plans,” “intends,” “designs,” “projects” or similar language, as well as statements regarding consumer or marketplace acceptance of the Company’s new or existing products; comments concerning marketing and consumer acceptance of proprietary products; the potential benefits of Essential Innovations’ products; initiatives undertaken by the Essential Innovations’ divisions; the Company’s research, manufacturing and facilities expansion programs; and the Company’s growth, revenue, or projected earnings; all such statements which may or may not occur in the future. These forward-looking statements are made as of the date of this news release, and Essential Innovations Technology Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no absolute assurance that such belief, plans, expectations or intentions will prove to be completely accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our periodic reports filed from time to time with the Securities and Exchange Commission.
