DeMarco Energy Receives New Funding

DeMarco Energy Systems of America, a geothermal heat pump technologies company, has announce that it has completed a new round of financing.

NEW YORK, New York – April 8, 2002 [] The investors include the same parties who invested the US$500,000 in the company in September 2000 and certain of their affiliates. The financing will be used to strengthen the balance sheet of the company and further support the company’s strategic growth. This new round of funding involves an initial US$700,000 with another US$300,000 to be invested once certain conditions are met, including the registration for resale of common stock. “In the present investment climate, we are pleased to have the continued support of our investors to help grow the company and expand our sales and marketing initiatives,” said Victor DeMarco, Chairman and CEO of DeMarco Energy. “Our company continues to expand in every area of the geothermal heat pump market and expects to generate positive cash flow. The financing will allow the company to take a more proactive role in achieving this.” DeMarco will focus 100 percent of its effort toward capturing the K-12, military, and regionally ground loop geothermal markets. According to Rebuild America, “K-12 Schools are the highest priority market. Over the next three years (2001-2003), more than US$79 billion in school projects will be completed with the majority involving new construction and/or renovation of existing school facilities. Other target markets include, colleges and universities, state and local governments, public and multi-family housing, and commercial buildings.” The DeMarco Energy Miser is a patented geothermal heating and cooling system, producing savings of 50 to 70 percent in commercial, institutional and industrial applications. The Energy Miser uses the thermal properties of municipal water mains, reuse water or any other managed water supply. As of January 23, 2002 DeMarco Energy Systems announced the addition of traditional ground loop installations as an added benefit to its business scope.
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