EI Signs Contract for Geothermal Loop-Field Technology

Essential Innovations Technology Corp.’s wholly owned Canadian subsidiary, Essential Innovations (EI) Corp., signed an technology rights agreement for exclusive global rights (excluding Asia) to market and private label a geothermal loop-field technology under the Essential Innovations’ name.

An MOU was signed in China earlier this month to this effect. “Our Company has been working diligently with our technology partners to design systems for some of our projects in Canada,” said Jason McDiarmid, President/ CEO of Essential Innovations (EI). “We are excited to now have an official exclusivity agreement in place, and we intend to begin to test and install the technology on certain projects within the next 60-90 days, remaining confident the results will show it to be just as effective in Canada as it has been in China over the last number of years.” Essential Innovations intends to use this geothermal loop field technology whenever possible as the ground component option that will operate directly with the company’s proprietary leading edge R410A, controls driven product line, the EI Elemental Geoexchange Series. “It seems clear that, when applied, this unique ground-loop technology has the capability to greatly minimize the amount of land typically required for large vertical borehole matrix geothermal loop-field designs,” McDiarmid added. “The fact it can be installed and applied at a significant savings to standard borehole technology makes the overall opportunity for this technology very timely, given the already enormous demand that exists for current conventional Geoexchange technology.”

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