GreenAngel’s DPoint Technologies Announces Major Supply Agreements
(Vancouver, BC, October 20, 2010) GreenAngel Energy Corp. (“GreenAngel”) (TSX-V: GAE) investee company, dPoint Technologies (www.dpoint.ca), has signed supply agreements for its energy-efficient polymer membrane and Energy Recovery Ventilator (ERV) components with two major manufacturers of building ERV systems.
The agreements will give dPoint access to a major share of the worldwide ERV marketplace through incorporation of its technology into the partners’ next generation products. It is estimated that these long term supply agreements will lead to a continued doubling of dPoint’s revenues in both 2010 and 2011.
dPoint CEO James Dean comments, “Having two major players in the global HVAC industry sign supply agreements serve as significant validation of dPoint’s ERV components and membrane technology. We look forward to working with our new partners to satisfy the growing market demand for cleaner, more energy-efficient HVAC systems.”
Michael Volker, Chairman of GreenAngel comments, “These agreements represent critical access to a massive worldwide marketplace and are a key milestone in the commercialization of dPoint’s novel proprietary membrane technology.”
About GreenAngel Energy
GreenAngel Energy Corp. is a green energy technology company. Our focus is commercializing new technologies that produce renewable energy, improve energy efficiency, or use renewable energy resources such as water, wind and solar. We also work with companies that deploy or manage technologies and processes that reduce greenhouse gas (GHG) emissions. In addition to providing strategic capital to investee companies, GreenAngel also provides business and advisory services to help ensure these companies achieve commercial success. The firms include Delaware Power Systems, Light-Based Technologies, Habitat Enterprises, Rapid Electric Vehicles, DPoint Technologies, and Paradigm Environmental Technologies. For more information, please visit www.greenangelenergy.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
ON BEHALF OF THE BOARD
Bob de Wit
CEO and Director
(604)916-3434
Disclaimer for Forward-Looking Information
Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding the Company’s listing of its common shares on the TSX Venture Exchange. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them.