Eco Innovation Signs LOI to Acquire Prime Eco-Friendly Cooling Technology.
MANews-(C)2009-2021
Texas-based green energy solutions developer Eco Innovation Group, Inc. (OTC: ECOX) has signed a letter of intent (LOI) with Keith E. Prime, the inventor of technologies with applications for eco-friendly cooling technology in the air conditioning industry, the company said.
Terms of the proposed transaction were not disclosed.
The LOI outlines key concepts toward a proposed acquisition by the company of Prime's proprietary cooling and alcohol dispensing technology.
Prime has built proof-of-concept units that have been in operation for decades.
The company will seek to take those existing products, conduct verification and due diligence on the effectiveness and utility of the technology, and use them as models for multiple commercial prototypes for third-party testing and certification, and then set up contract manufacturing to fulfill commercial demand for the products.
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