SOURCE: Gold River Productions

July 07, 2010 00:01 ET

Gold River Productions Inc. (OTC: GRPS) Announces Receipt of a Letter of Intent From Phoenix Energy Products

SALT LAKE CITY, UT--(Marketwire - July 7, 2010) -  John Ohlin, President and Chief Executive Officer of Gold River Productions (PINKSHEETS: GRPS), and its wholly owned subsidiary AeroQuest Technologies announces it has received a letter of intent from Phoenix Energy Products to place a guaranteed "soft" order and become a primary distributor and Integrator of AeroQuest's monolithic, photo voltaic(PV) roof systems.

The PV market is expanding exponentially reports Mr. Ohlin. "In the U.S. alone, photo voltaic installations increased 63% in 2008 (the most recent data) versus 2007. Our PV roof systems are being initially targeted for the commercial building industry, which in May of 2010; saw 52 construction starts of at least $50 million," reported Mr. Ohlin.

"Typical commercial roof installation costs approximately $20.00 per square foot and although our roof systems cost more initially, with the currently available federal and state tax incentives our cost equals that of existing, non-PV technology. The exciting aspect of our technology is that at a similar cost, a developer or building owner gets a roof system that has a 30% to 50% higher R value (R-42), pays for itself in 18 months or less and then through the Federal mandate for utility companies to purchase excess electricity generation, the roof system contributes to its owners bottom line for years to come," reports Mr. Ohlin.

"Our model is based on a typical 20,000 square foot concrete tilt-up commercial building which would have 200 kw generating capacity," Mr. Ohlin reports. "Based on this model, we are forecasting third year sales of 60 roof systems with $35.8 million in sales."

AeroQuest Technologies was the 2007 winner of the Stoel-Rives sponsored, Utah Innovations Award for the technology of the year in the Materials/Chemicals category of the award. Visit the AeroQuest Technologies website at www.atpanels.com

Except for historical information contained herein, the statements in this release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financing and other risks.

Contact Information

  • Contact:
    John Ohlin
    801-523-2744