Geothermal

DeMarco Energy Systems Acquires American Geothermal

DeMarco Energy Systems of America signed a Letter of Intent to purchase all the assets of American Geothermal, which will become DeMarco’s operating subsidiary.

The company will immediately begin tendering and installing DeMarco Energy-patented Geothermal Heat Pumps. With the added revenue and projected rise in sales, DeMarco Energy will soon be renamed Energy Vision International. DeMarco Energy welcomes American Geothermal’s CEO, Victor DeMarco, to management. DeMarco is the son of the late Louis DeMarco, DeMarco Energy’s former chairman and inventor of the ‘Energy Miser System.’ “I look forward to, once again, being a part of DeMarco Energy Systems of America,” said Victor DeMarco. “I have the utmost confidence in the new team and look forward to building DeMarco Energy Systems into a worldwide leader in the geothermal industry.” The increasing cost of energy use is important to residential and commercial consumers of electricity. Governments around the globe are beginning to take the threat of energy shortages seriously. Many are introducing grants to encourage users to convert or include energy-saving technology in new housing projects. “We diligently work to expand the company’s asset and revenue base and add new technologies to our portfolio. Today’s announcement advances operations and places us on a firm foundation for the days to come,” said Anthony Welch, Chairman of DeMarco Energy.