SOURCE: EESTech Inc

November 19, 2007 09:30 ET

EESTech Inc. Acquires Ownership of Climate Change Technology

QUEENSLAND, AUSTRALIA--(Marketwire - November 19, 2007) - EESTech Inc (OTCBB: EESH) today announced to Shareholders the successful acquisition of the intellectual property rights to the unique HCGT (Hybrid Coal Gas Turbine), a patented clean coal technology.

Ownership of this core technology will enhance the company's balance sheet strength, offering an advantage to investors and financiers who are supporting the company's business plan and strategies.

EESTech Inc has launched a business growth strategy to capitalize on the international recognition of the need to mitigate the impacts of global warming caused by fossil fuel-based industries and energy providers.

The HCGT technology was developed by a leading Australian Government research organization under a design mandate to develop an environmentally sustainable, stand-alone power plant suitable for use in a wide range of applications.

The HCGT technology mitigates the detrimental impacts of coal mining on the environment by lowering fugitive methane emissions. Methane is recognised as a harmful greenhouse gas that is 21 times more damaging to the earth's atmosphere than carbon dioxide. A benefit of the HCGT technology is that it uses mine methane and waste coal to produce electricity.

CEO of EESTech Inc, Murray Bailey said, "Acquiring the ownership of the HCGT technology marks a successful milestone in the company's development and recognition as a market leader in the delivery of clean energy."

The HCGT technology is a significant strategic asset that will complement EESTech's objective to commercialise economically and environmentally sustainable technologies.

Mr. Bailey said, "The integration of this technology together with other technologies being commercialized by the company gives EESTech a real market advantage over its competitors, by delivering significant cost-effective solutions not currently available in the market place. We have now escalated our plans to commence commercialisation of the company's technologies in China."

In support of the company's objective to deliver cost-effective energy solutions to China, EESTech Inc has appointed a range of specialist consultants and local partners, including internationally recognized project management, power engineering and design consultants.

EESTech Inc (formerly Aqua Dyne Inc) was incorporated in the US and is a US Corporation permitted to trade stock on the US Bulletin Board.

EESTech Inc trades on the US Bulletin Board and uses the stock symbol EESH.OB (Previously AQDY.OB)

Contact Information

  • For further information, images or interview:
    Susan McGrady
    BBS
    +61 7 3221 6711