ODESSA, Fla., April 28 /PRNewswire-FirstCall/
-- Global Energy Group, Inc. ("Global Energy") (OTC Bulletin
Board: GENG) announced today that it has entered into agreements to
establish five pilot programs for its EER+ air-conditioning retrofit
product. Installation of two of the pilots has recently been
completed, one is currently being installed, and the remaining two
should be installed within the next few months. The EER+ product
contains Global Energy's patented technology, and when used to
retrofit existing commercial air conditioning or refrigeration
equipment, significantly improves the energy efficiency of that
equipment.
"One of our objectives for this year was to establish pilot
programs in different parts of the country and for different types of
product applications," said Guy Frankenfield, Global Energy's
Vice President of Sales. "These five pilots will accomplish this
for us."
The Company has recently completed two pilot installations in
California. The first program uses four 30-ton EER+ units to retrofit
existing air-conditioning equipment on a facility at a college, and
the second uses two 20-ton units to retrofit equipment on an office
building of a Fortune 500 company. These installations will be
monitored over the next few months to determine the level of
efficiency improvement. Based on the experience at other installations
made over the past few years in Florida and Texas, the Company expects
the EER+ equipment to improve the efficiency of the existing
air-conditioning equipment by approximately 25%.
The Company's products are currently being installed for the third
pilot on refrigeration equipment at a food processing plant in
Tennessee. "This is the first time that Global Energy's EER+
equipment has been utilized to retrofit refrigeration equipment,"
Frankenfield continued. "Based upon work performed at our
facility in Florida, we expect this application to confirm that the
efficiency improvement to refrigeration equipment, when retrofitted
with Global Energy's patented EER+ technology, will match or exceed
the improvements that we have seen on air-conditioning equipment. We
believe that our EER+ product can provide a significant benefit to the
grocery and other food services businesses that incur substantial
electricity costs from their refrigeration systems."
The remaining two pilots will involve two manufacturing plants of
another Fortune 500 company. One installation will use two 50-ton EER+
retrofit units on a facility located in Georgia. The other program
utilizes two 30-ton units for a plant in Connecticut. Global Energy
has begun to manufacture these units and expects to deliver them for
installation within 6 weeks.
"Each of the new pilot installations will be monitored during
the summer," said Frankenfield. "When this program is
completed, Global Energy will have actual field performance data for a
wide variety of sizes and types of air-conditioning and refrigeration
equipment in installations in Florida, Texas, California, Tennessee,
Georgia and Connecticut. This information will be invaluable for our
sales program, because it will establish the energy savings of our
equipment in several different climates and shows its versatility in
application."
Global Energy was formed in 1998 for the primary purpose of
inventing, developing and commercializing new technologies that
improve the energy efficiency of existing products and processes. The
Company has particular focus on, and significant skill in,
applications that involve thermodynamics and heat exchange. Global
Energy currently holds the rights to eight patents and eight
patent-pending applications. Additional information is available at:
www.gegsolutions.com.
Forward-looking statements in this release are made pursuant to the
"safe-harbor" provisions of the Private Securities
Litigation Act Reform Act of 1995. Words or phrases like "we
believe", "our goal is", "estimate",
"project or projected", "will likely result", or
similar expressions are intended to identify "forward-looking
statements." Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including without
limitation, continued acceptance of the Company's products, increased
levels of competition for the Company, new products and technological
changes, the Company's dependence on third-party suppliers and other
risks detailed from time to time in the Company's periodic reports
filed with the Securities and Exchange Commission.