Encore Energy to Enter Caribbean Market With Modern Technology Corp
March 18 2008 - 9:30AM
PR Newswire (US)
BRIGHTON, Mich., March 18 /PRNewswire-FirstCall/ -- Encore Energy
Systems (Pink Sheets: ENCS) announced today its plans to expand in
the Caribbean market. Under the terms of the proposal, Modern
Technology Corp (Pink Sheets: MODC) will provide grant funding
sourced through Caribbean and South American government
organizations interested in promoting the use of energy efficient
technologies in the region. The Caribbean is particularly
vulnerable to the rising price of crude oil. Power generation is
wholly dependent on oil. This fact creates a threatening drain on
their economies and impact on local pristine environments through
ever-rising carbon emissions. The Company's technologies and
solutions can reduce power consumption dramatically. Hot water
generation costs can be lowered 95%. HVAC heating/cooling costs can
be lowered typically 40% to 70%. The Company's solutions quickly
pay for themselves through electricity savings. The price per Kwh
of electricity is one of the highest in the world. In preparation
for this market expansion, the Company entered into a sales
partnering agreement to supply AMK Solar Collectors. These units
generate domestic hot water, resulting in lower electricity bills.
The Company's strategy is to introduce not only energy-saving
technologies to the Caribbean but also to promote job creation and
energy independence. The Company will actively promote skills and
job training throughout the Caribbean in the areas of geothermal
systems engineering and solar power technologies. About Encore
Energy Encore Energy owns the patents for the use of grey-water,
and domestic water in heat exchanger systems. They also provide all
forms of conventional geothermal heat exchange systems. See video
at http://www.encoreenergyinc.com/. About Modern Technology Corp
Modern Technology Corp is a specialized holding company focusing on
the purchase of convertible debt instruments and majority control
of public companies for execution of a 'turn-around' strategy and
subsequent spin-off. The company's web address is:
http://www.moderntechnologycorp.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. The company's web-site version of
this press release contains various RISK FACTORS (and are
incorporated herein by reference) and should be read before any
investment decision. Investor Relations: Contact: Encore Energy
Systems, Inc. Investor Relations 1-888-234-0963 DATASOURCE: Encore
Energy Systems CONTACT: Encore Energy Systems, Inc., Investor
Relations, 1-888-234-0963,
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