Eco Innovation Group, Inc., an innovative company developing new technologies for green energy solutions, is excited to announce the signing of a Letter of Intent with Keith E. Prime, the inventor of technologies with applications for the air conditioning industry. The LOI outlines key concepts toward a proposed acquisition by the Company of Prime's proprietary cooling and alcohol dispensing technology.
Prime has built proof-of-concept units that have been in operation for decades. The Company will seek to take those existing products, conduct verification and due diligence on the effectiveness and utility of the technology, and use them as models for multiple commercial prototypes for third-party testing and certification, and then set up contract manufacturing to fulfill commercial demand for the products.
One application of Prime's technologies is a system that employs cold outdoor air for the purpose of significantly reducing energy consumption in large coolers equipped with energy intensive refrigeration compressor units in cold climates.
Subject to the terms and conditions set forth in the LOI, the Company would form a new operating subsidiary that would acquire 100% of the right and title to Prime's technologies in exchange for equity and profit-sharing considerations in the newly formed operating subsidiary.
"Prime's technology will make an outstanding addition to our pipeline of eco-friendly energy solutions," stated Julia Otey-Raudes, CEO of ECOX. "We look forward to working with Keith and his team to take that tech from demonstration level to commercial prototype, pilot projects, and manufacturing for commercial sale."
