SOURCE: GreenWorld Restoration, LLC

GreenWorld Restoration, LLC

December 12, 2011 07:00 ET

GreenWorld Restoration LLC Acquires the Intellectual Property and Assets of Solaris Home Systems LLC and Assistance Services International

AUSTIN, TX--(Marketwire - Dec 12, 2011) - GreenWorld Restoration LLC (Greenworld) is pleased to announce the acquisition of intellectual property from Solaris Home Systems LLC (Solaris), a Florida Limited Liability Company, and the related manufacturing assets from Assistance Services International (ASI), a Mexico Corporation.

For the past five years, Solaris has been designing and testing low cost housing systems in environments with little to no water, waste water or electricity resources. As a result, the homes have been designed to be environmentally friendly operating "on- or off-the-grid." In addition, the housing system was designed to address the post natural disaster needs of both permanent housing and temporary shelter, whereby 95% of the materials from a temporary shelter can be reused for purposes of constructing a permanent home. A permanent home from GreenWorld ranges from $8,500 - $15,000 in Haiti, and $15,000 - $39,000 in the USA, depending upon customer requirements. This changes the current model of spending $60,000 - $90,000 for a temporary throw-away shelter, and then spending additional funds to reconstruct a permanent home.

ASI, based in Mexico, implemented the designs of Solaris Home Systems in the manufacturing of housing components and the construction of sustainable homes. Prior to the acquisition, ASI was manufacturing version 9.0 of the housing system. GreenWorld acquired the assets of ASI and has established a hub manufacturing facility in Austin, Texas for purposes of releasing version 10.0 of the housing system. Spoke manufacturing facilities will continue to be established in communities the Company serves around the world with the objective of creating local employment and reducing transportation costs, resulting in greater value to those communities.

In conjunction with establishing the Austin hub manufacturing facility, GreenWorld will be donating a home to a family in Bastrop, Texas who lost their home due to the recent Texas wildfires. According to Michael Torres, President and CEO of GreenWorld Restoration, "One out of seven families in Bastrop was uninsured and five out of seven families were underinsured." The donation will be done through the Worldwide Maniac Foundation to which GreenWorld contributes up to 30% of its profits to pay-it back to communities it serves and pay-it forward to communities it has yet to serve.

According to Tom Pirelli, former CEO of Solaris and ASI and now Advisor to GreenWorld, "We are pleased to see our partners at GreenWorld Restoration take the technology we developed over the years to new levels. This will be of great benefit to low income families in need of high quality, affordable housing around the world."

"The team at GreenWorld Restoration is pleased to join forces with Tom Pirelli. Tom has always been a great inventor; he invents with his mind, guided by the direction of his heart. His work over the past five years has helped many families and will continue to do so through GreenWorld," says Michael Torres, President & CEO of GreenWorld Restoration.

About GreenWorld Restoration

GreenWorld Restoration is a leading provider of sustainable housing and community solutions. We offer affordable on- or off-the-grid permanent housing as well as temporary housing solutions whereby 95% of the materials from a temporary house may be reused to create a permanent home.

Beyond the home, we help design and develop sustainable communities utilizing our Integrated Solution Architecture for Sustainable Communities™. Through this approach, we are able to help create a community that is in balance with the land ecologically and the people economically.