SOURCE: Eco-Shift Power Corp.

Eco-Shift Power Corp.

May 01, 2014 09:00 ET

Eco-Shift Power Corp (OTCQB: ECOP) Announces Acquisition of the Majority of Assets of E-Shift Scientific Inc.

CAMBRIDGE, ON--(Marketwired - May 01, 2014) - Today Eco-Shift (ECOP) (OTCQB: ECOP) announced that it has completed an Asset Purchase and Sale Agreement with E-Shift Scientific Inc (ESS) of Ontario, Canada that will see ECOP acquire certain ESS assets. The assets include seven new product technologies and associated patents, patents pending and Intellectual property. The added technologies and products will fold seamlessly into ECOP's Virtual Powerplant Platform* to allow for increased savings for clients. The company's Platform provides lighting products, smart energy management technologies as well as a variety of solutions to save significant energy costs in medium to large businesses.

The mixed cash and stock deal will allow ECOP to add ESS assets that will greatly benefit the company and its clients via industry leading technology. For example, by bringing ESS's radio frequency technology in-house, ECOP significantly reduces the manufacturing costs for it's Net Zero rated Ballast applications and pass on savings via even more competitive pricing to end-users.

"The purchase of ESS technologies provides us with improved price competitiveness with florescent, electronic HID, induction as well as LED technologies," says CEO Gib Wood, "This provides Eco-Shift Power with a key differentiator in a highly competitive market," states Wood, "By introducing its Virtual Powerplant platform to the market, ECOP will become a world-wide industry leader for providing turn-key Demand Response solutions using Smart Buildings. This has been clearly identified within the electrical distribution industry as a key sustainable solution to managing the biggest crisis in operating electrical grids today: meeting industry's increasing demand in a cost-effective manner."

*The Virtual Powerplant Platform provides commercial and industrial energy users with the ability to transform their facilities into smart, energy efficient and cash-flow-positive buildings. This is accomplished by ECOP's state-of-the-art, IP-addressable wireless communicating light fixtures. The Platform can then communicate with these lights and reduce energy when there is a peak demand event based on the software-embedded algorithms managing the facility. This service will be managed by ECOP on a 24/7 basis for clients. "The Platform meets the needs of the two-way partnerships between utilities and consumers, as well as developing new three-way partnerships between utilities, consumers and ECOP," says ECOP CEO Gib Wood.

** "When defining best available technologies and providing Net Zero certification, ECOP drives additional energy cost savings for clients who benefit from our uniquely consultative approach," states Wood, "ECOP truly differentiates itself from simple vendors with its advanced sustainability agenda which provides clients with up to 58% long term energy cost saving."

ECOP Lighting Solutions and Energy Management serves a client roster including Mattel, ThyssenKrupp, and Parmalat. With a foundation in new-era LED lighting and wireless and web-enabled technologies, ECOP is transitioning clients' decision making from old, fixed technology to the new information age.

About Eco-Shift Power

Headquartered in Cambridge, ON, Eco-Shift Power Corp. (ECOP) develops best-in-class commercial/industrial lighting products, wireless energy management technologies as well as provides complete solution implementation. As an emerging smart building and energy management facilitator, ECOP procures, assembles, sells and distributes high-efficiency lighting products, along with other integrated energy management products such as online monitoring and verification reporting tools, direct load controls, activity monetization instruments, and demand response. All are delivered via Software-as-a-Service (SaaS).

Core ECOP competencies include LED expertise, microprocessor/Transmitter/wireless capability -- with IP addressability creating an intelligent light and a sustainable management service platform that includes five areas for client revenue generation or costs savings:

  • reduce load during peak pricing
  • manage demand response programs
  • manageability of fixtures to reduce load
  • security
  • maintenance and management

Learn more at http://eco-shiftpower.com/

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the offered shares or any other securities, nor shall there be any sale of such shares or any other securities in any province or state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction.

Contact Information

  • For more information, contact
    Gib Wood
    gwood@eco-shiftpower.com
    844-779-7900
    Eco-Shift Power Corp.,
    1090 Fountain St N
    Cambridge ON
    N5E 1A3
    Canada