TORONTO, ONTARIO -- (Marketwire) -- 02/19/13 -- Bellair Ventures Inc. ("Bellair") operating as SustainCo (TSX VENTURE: BVI) announced today that, CleanEnergy, a SustainCo company, has entered into a Letter of Intent with a clean technology company to provide CleanEnergy the exclusive use of the GeoModule, a hardware and software package used to design optimal hybrid geoexchange systems.
Greensleeves, LLC ("Greensleeves"), owner of GeoModule, has provided CleanEnergy with the exclusive rights for the use of GeoModule in Canada. The GeoModule optimizes operational efficiency by controlling various mechanical pumps and equipment, thus reducing overall capital expenditures of hybrid geoexchange systems.
Under the terms of the Letter of Intent, CleanEnergy will perform its due diligence on the GeoModule existing installations in the United States, while Greensleeves will perform its due diligence on the CleanEnergy hybrid geoexchange optimizer software for possible licensing to Greensleeves for the United States. The CleanEnergy hybrid geoexchange optimizer software enables CleanEnergy to cost-effectively design the optimal sizing of the bore field of a hybrid geoexchange system, thus presenting the best payback for customers. Both companies have ninety days to enter into long term definitive agreements.
"SustainCo is driving sustainability by adding exclusive clean technology to our design principles," commented Mr. Emlyn J. David, President & CEO of SustainCo. "These advances also improve the mechanical contracting value add being offered by Urban Mechanical Contracting Ltd., a SustainCo company as well."
"These tools continue to add to the barrier to entry for competitors to replicate its intellectual property in applied design principles and clean technology advances," stated Mr. Robert van Duynhoven, President of CleanEnergy.
SustainCo, the operating brand of Bellair, a publicly traded company (TSX VENTURE: BVI), is a leading provider of sustainable infrastructure solutions and services. SustainCo solutions and services offer long-term customer value and environmental sustainability through a broad offering including alternative energy solutions, energy efficiency, innovative facility technology solutions, and facility maintenance services to customers in the multi-residential and ICI "industrial commercial and institutional" sectors across Canada. SustainCo focuses on both new build and retrofit markets.
CleanEnergy, a SustainCo company, is the leading national provider of sustainable thermal energy systems and services. CleanEnergy has executed over 2,100 geothermal heating and cooling installations across Canada. CleanEnergy offers a utility or self-finance model for long-term thermal energy contracts.
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by Bellair at the time of preparation, may prove to be incorrect. Forward-looking statements, specifically those concerning future performance and other statements that are not historical fact, are subject to certain risks and uncertainties, and actual results may differ materially from Bellair's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Bellair with the TSX-V and securities regulators. Bellair does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Trading in the securities of Bellair should be considered highly speculative.
All forward-looking information contained in this news release is expressly qualified in its entirety by this cautionary statement.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Neither the TSX-V, nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Emlyn J. David
President, Chief Executive Officer, Secretary and Chairman
SVP, Strategic Developments & Communications
Most Popular Stories
- GE Healthcare Bringing Jobs to Massachusetts
- Apple Stock Bounces Back Big Time
- James Foley Killer Could Be ID'd Via Social Media, Voice Recognition
- Faith Groups Divest From Fossil Fuels
- James Foley Beheading Video Is Real Thing: White House
- Spiders Get Bigger, Reproduce Faster in Cities
- Entrepreneur Contest Announced in Idaho
- U.S. Existing Home Sales Rise 4th Month Straight
- Why BofA Won't Pay $17 Billion After All
- Notes From the July FOMC Meeting