Equisol Completes Acquisition of Tower Turbines Inc. With Potential Revenue of $62 Million for the First Four Years
June 02 2011 - 8:00AM
Marketwired
Equisol LLC, a wholly-owned subsidiary of Environmental
Infrastructure Holdings (OTCBB: EIHC), which is the parent company
of various environmental manufacturing, engineering and services
companies, announced that it signed the purchase agreement to
acquire 100% of the stock of Tower Turbines, Inc. Consideration
paid for the sale consisted of 2 million common stock shares with a
1 year restriction period and a $50,000 3 year term note bearing
12% interest annually.
Tower Turbines is focused on providing renewable, green power
generation by developing and commercializing patentable processes
using currently available technologies to capture energy from water
flow in existing and new water towers. The company's target market
initially consists of 1750 water towers with an anticipated revenue
generation of $250,000 per tower per year.
Kurt Given, Equisol's CEO, states, "We look forward to applying
Equisol's service and installation expertise and capabilities to
accelerate Tower Turbines' technologies commercialization plans and
allow us to enter the renewable energy market."
About Environmental Infrastructure Holdings
Corp.
Environmental Infrastructure Holdings (OTCBB: EIHC) is the
parent company of diverse environmental manufacturing, engineering
and services companies. Currently, EIHC has one subsidiary,
Equisol, LLC, as well as investments in various joint ventures and
partnerships.
Recognized in 2008 by INC Magazine as the 7th fastest growing
private environmental services company in America, Equisol, LLC, is
a unique equipment solutions provider specializing in the water and
wastewater industry. Its team of top-rated engineers specializes in
automation equipment and services across multiple industries where
water use and automation are important.
Forward-Looking Statements
This press release contains forward-looking statements, which
represent the Company's expectations or beliefs, including, but not
limited to, statements concerning plans, acquisitions, new product
development, growth and strategies, which include, without
limitation, statements preceded or followed by or that include the
words may, will, expect, anticipate, intend, could, estimate, or
continue or the negative or other variations thereof or comparable
terminology. Any statements contained in this press release that
are not statements of historical fact may be deemed to be
forward-looking statements. These statements by their nature
involve substantial risks and uncertainties, some of which are
beyond the Company's control, and actual results. Readers should
carefully review the risk factors described in other documents the
Company files from time to time with the Securities and Exchange
Commission, including the Company's Annual Report on Form 10-K for
the year ended December 31, 2010, Quarterly Reports on Form 10-Q,
and Current Reports on Form 8-K.
Investor Contact: EQUISOL, LLC 866-629-7646
www.equisolgroup.com
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