April 12, 2007 13:17 ET

Corix Signs MOU to Explore GeoExchange for Bamberton

BAMBERTON, BRITISH COLUMBIA--(CCNMatthews - April 12, 2007) - Corix Utilities has signed a Memorandum of Understanding (MOU) with Three Point Properties to undertake feasibility and design of potential GeoExchange infrastructure for the Bamberton property on Vancouver Island.

"GeoExchange energy can be an efficient, environmentally friendly and cost-effective option for new developments," said Stacey Bernier, General Manager, GeoExchange & Sustainable Energy Systems, for Corix. "And interest in GeoExchange and other sustainable energy options is increasing as we look to deal with global warming and other environmental issues."

GeoExchange systems transfer the heat located immediately under the earth's surface (or in a body of water) into a building in winter, using the same principle as a refrigerator that extracts heat from food and rejects it into a kitchen. In the colder winter months, a GeoExchange system collects thermal energy from the earth to provide heat for buildings; in the summer the process reverses and heat from buildings is reinjected into the ground or into the ocean. Options for reusing internal building heat in the summer include heating swimming pools, hot tubs or domestic hot water tanks.

"Looking at the potential for GeoExchange is consistent with our vision of superior planning, progressive use of technology and accountability to both communities and the environment," said Ross Tennant, Managing Partner with Three Point Properties. "We have heard from the community that ensuring Bamberton is sustainable is very important to them, and therefore we are very excited to work with Corix on exploring using this technology on site."

Three Point Properties is a Victoria-based multi-dimensional real estate development company that prides itself on its community based, long-term approach to development. Properties are developed using innovative ideas and the highest quality materials and workmanship to provide a product of value that will last well into the future.

Corix Utilities is part of the Corix Group of Companies, a Vancouver-based company that specializes in providing of infrastructure solutions in the water, wastewater and energy sectors. The business of Corix is to design, supply, build and manage the pipes, valves, fittings and systems that treat and transport water and wastewater. It is also a leader in providing customers with sustainable energy solutions.

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