SOURCE: EPOD International Inc.

February 13, 2006 09:30 ET

EPOD Announces Agreement to Acquire 8 Megawatt Solar Panel Plant

RENO, NV -- (MARKET WIRE) -- February 13, 2006 -- EPOD International Inc. (the "Company," "EPOD") (OTC BB: EPOI), (Frankfurt: EDU.F) announces the Company has entered into an agreement, subject to certain conditions, to acquire a solar panel manufacturing facility with an existing eight (8) megawatts of chamber capacity.

Management announces the Company has executed a Letter of Intent to acquire 100% of an amorphous silicon or "thin-film" solar panel plant with eight-megawatts of existing chamber capacity. The deal is subject to completion of due-diligence, financing, and approval by EPOD's board of directors. The transaction requires the payment of up to three (3) million EPOD shares and cash at closing, and certain cash installments over a period of time. With the current build out plans for EPOD's wholly owned subsidiary, EPOD Renewable Utilities Inc., this amount of product supply would add EUR 40 million (US$47 million) of sales to the company.

The Company intends to use these sales as an opportunity to convert EPOD Renewable Utilities into an Income Trust. Income Trusts are set up so that profits can be distributed out to shareholders without the Trust being taxed first. EPOD Renewable Utilities has been set up to own and operate electricity production and sale from solar and wind.

"Solar panel production and sale is becoming an increasingly larger part of EPOD's business model as a majority of our panel sales also result in the sale of EPOD inverters, power management, and the balance-of-system components. We look forward to continuing to increase our panel manufacturing capabilities and to building a world-class portfolio of renewable power generating capacity," said Mark Roseborough, EPOD President.

L. Mark Roseborough
President
EPOD International Inc.
"Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: Statements about EPOD's future expectations, including future revenue, earnings, and transactions, as well as all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. EPOD intends that such forward-looking statements be subject to the safe harbors created thereby. These statements involve risks and uncertainties that are detailed from time to time in the Company's filings with the Securities and Exchange Commission, including, but not limited to, the Company's 10-KSB for year ended December 31, 2004 filed on or about March 30, 2005, and incorporated herein by reference.

About EPOD: EPOD International Inc. is a leader in the development of advanced energy management technologies with real-world market applications. The Company's patent-pending 'Energy Pod' technology manages and manipulates electrical energy such that utilization of DC-electric battery power becomes significantly more efficient. EPOD's patent-pending and proprietary technologies are applicable to a wide variety of industries and applications, and are available through licensed OEM's and directly to end-users.

The Company's filings, including current financial reports, can be accessed through the EDGAR database at www.sec.gov.

Contact Information

  • For more information please contact:
    Brett Walker
    Telephone: (604) 669-0600
    Fax: (604) 662-4929