Eco-Shift Power Corp (OTCQB: ECOP) Signs LOI to Acquire Assets of Energy Management and Intelligent Building Automation Company ESS
(Marketwire Via Acquire Media NewsEdge) CAMBRIDGE, ON -- (Marketwired) -- 03/25/14 --
Eco-Shift Power Corp (OTCQB: ECOP)
Eco-Shift (ECOP) to acquire E-Shift Scientific Inc (ESS)
ECOP Lighting Solutions and Energy Management serves a client roster including Costco, Mattel, ThyssenKrupp, and Parmalat. With a foundation in new-era LED lighting and wireless and web-enabled technologies, ECOP is transitioning clients' decision making from old, fixed technology to the new information age.
ECOP's strategic plan includes acquiring best available technologies and brands to stay positioned at the forefront of the multi-billion dollar lighting retrofit and smart building development industry in North America and beyond. As part of this growth strategy it has entered into a Letter of Intent to acquire assets from world-class research and design company ESS."We are delighted that key ESS technology assets will be integrated in to the ECOP group," comments CEO, Gib Wood. "This acquisition will give our clients access to best available LED technology at approximately 50% less than our current LED product offerings. ESS's proprietary wireless communication will enhance all aspects of our Smart Building initiatives, and integrate seamlessly into our Demand Response (DR) platform."
Certain ESS key personnel have agreed to employment contracts with ECOP to ensure customer support and continued design and development success. A total of 7 new product technologies and related Intellectual property will be added to ECOP's existing technology base.
"To date no other group has been able to provide North American made products at such reduced price points without sacrificing quality," says John-Ross Miskiewicz, ESS's lead product developer.
About Eco-Shift Power
Headquartered in Cambridge, ON, Eco-Shift Power Corp. (ECOP) develops best-in-class commercial/industrial lighting products, wireless energy management technologies and solutions implementation. As an emerging technology smart building energy management facilitator, ECOP procures, assembles, sells and distributes high-efficiency lighting products, along with other integrated energy management products such as online monitoring and verification reporting tools, direct load controls, activity monetization instruments, and demand response. All are delivered via Software-as-a-Service (SaaS).
Core ECOP competencies include LED expertise, microprocessor/Transmitter/wireless capability -- with IP addressability creating an intelligent light and a sustainable management service platform that includes five areas for client revenue generation or costs savings:
reduce load during peak pricingmanage demand response programsmanageability of fixtures to reduce loadsecuritymaintenance and managementLearn more at http://eco-shiftpower.com/
Based in Cambridge, ON, E-Shift Scientific Inc. (ESS) designs, develops and manufactures innovative wireless solutions for use within the machine-to-machine (M2M) marketplace.
ESS delivers leading-edge products and services that improve day-to-day business operations within the commercial and industrial sectors with a strong focus within the energy management and controls businesses. ESS specializes in providing innovative luminaire fixtures and RF wireless control components for both interior and exterior applications.
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Source: Eco-Shift Power Corp.
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