Global Energy Announces EER+ Pilot Programs
April 28, 2003 7:54:00 AM ET
 

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.