PowerVerde Signs Distribution Deal with Eakins Group
Submitted by SmallCapVoice.com
Nov. 19, 2009 (Business Wire) — PowerVerde, Inc. (OTCBB: PWVI), a manufacturer of high performance pressure and gas expansion products motors used in the production of renewable electric power, announced today that it has entered into a nonbinding Memorandum of Understanding (MOU) with The Eakins Group (“Eakins”), a Manteno, Ill.-based oil service and construction company. As per the MOU, the parties intend for Eakins to be given an exclusive Midwest territory to sell PowerVerde’s Gas Expansion and Gas Pressure Motors. Terms of the MOU reflect a joint effort between the companies to distribute, install and maintain PowerVerde’s proprietary Power System technology with the intent of Eakins developing a nationwide footprint. PowerVerde will be responsible for delivering to Eakins high quality Power Systems, including Organic Rankine Cycle and related subsystems, along with all spare parts and training for installation and repair.
George Konrad, founder and President of PowerVerde, stated, “As we work to commercialize our renewable power systems and related Organic Rankine Cycle technology, finding distribution channels positioned to service particularly the oil and gas industry as well as telecommunication and commercial properties is a major focus of our marketing strategy. The oil and natural gas pipeline industry is a primary targeted space for our thermal and pressure driven renewable products. This industry generates an abundance of both waste heat and pressure through its day-to-day operations. Being able to attract a major service company such as The Eakins Group is a significant accomplishment.”
Added Robert Eakins, President and CEO of The Eakins Group, “With all the hype and misinformation in the renewable energy space, PowerVerde’s commitment to commercializing their renewable power systems convinced us that they have the products and technology to assist our entry into the green renewable energy space. After conducting hands-on due diligence, we believe they are a groundbreaking company with leading-edge technology.”
About PowerVerde
PowerVerde, Inc. (OTCBB: PWVI) manufactures advanced renewable power generator systems comprised of gas pressure and gas expansion motors. These systems operate without combustion or fossil fuel creating electrical power from any low grade heat source or adequate pressure forum. PowerVerde is an environmentally friendly green company producing zero emissions or waste stream byproducts. For more information about PowerVerde, please visit our website www.PowerVerdeenergy.com.
About Eakins Group
The Eakins Group is a full service maintenance and construction contractor servicing the Pipeline, Telecommunication, Commercial Property and now the Green Renewable Energy Industries. The company has offices in Manteno, Illinois.; Ft. Lauderdale, Florida; Dallas, Texas; and Bend, Oregon; and soon expects to open an office in the southwest United States. For more information, please visit the Eakins Group website www.eakinsgroupinc.com.
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