NEW YORK, July 08, 2020 (GLOBE NEWSWIRE) — Eco Innovation Group, Inc. (“ECOX” or the “Company”) (OTC:ECOX), an innovative company developing new technologies that are environmentally friendly, promote green energy and are socially responsible, provides the following Letter to Shareholders from Chief Executive Officer Julia Otey-Raudes:
Dear Valued Shareholder,
Allow me to begin today by expressing our most sincere gratitude to our faithful shareholders for your loyalty, patience, and commitment. Following a recent shift in strategy and leadership, we now have a bold and clear-eyed vision in place at Eco Innovation Group. Today, I would like to provide you with our vision, as well as insights into our emerging model, what we have already accomplished, and what we are focused on achieving next.
As you are likely aware, Eco Innovation Group pivoted in late February of this year and adopted a new vision and corporate strategy. We are now one hundred percent committed to creating the most successful eco-oriented innovation incubator platform in the world. We built a strong pipeline of products in development working with our initial inventors and innovators, and we have many more leads in progress that should foster an exciting second half of 2020, as that pipeline broadens and we near commercial-stage product launches.
Our product licensing agreements provide us with the rights to leverage existing product development and intellectual property, and then commercialize, market and sell these products. Our success depends on the quality of ideas we cultivate in our discovery process, our development and execution incubating products and our go-to-market strategy.
As we get this model off the ground this summer, we have already made strong strides toward commercializing several powerful products now in our incubation pipeline.
Our first initiative resulted in an exclusive global licensing agreement with the Bellagio IP Trust for the ECOX Power Booster™, which is a remarkable innovation that taps electricity and magnetism to increase the useful power derived from a given amount of energy. Customers using this technology may be able to increase the usable energy in their homes by as much as 150% while saving approximately 60% on their electric bills.
Another remarkable innovation now in our pipeline is called PoolCooled™, which utilizes proprietary technology to cool your home or building by taking cool water from an existing swimming pool and looping it through the existing air conditioning systems to boost air conditioning efficiency on a per-unit power consumption basis in the home or building. Based on available information, we believe this technology may yield savings of as much as 50% off residential electric bills. And because the energy transfer occurs, the process also warms the swimming pool with no additional power usage or cost. PoolCooled™ is designed for hotels, motels and apartment buildings, or for use with your own back yard swimming pool.
These products exemplify the types of innovative ideas we are working on. We look forward to the development of these products and introducing you to a number of other remarkable products over coming weeks and months as we work to aggressively expand our product pipeline.
Our model has other advantages as well. We are aligned with the emerging Environmental, Social, and Governance (“ESG”) companies currently in vogue in the capital markets. ESG is generally understood to refer to investment capital being driven by interests in environmental, social, and governance concerns in conjunction with financial factors in the investment decision-making process. Morgan Stanley researchers believe ESG investing may drive as much as $57 trillion in capital flows over the next ten years, and we hope to participate in this developing opportunity. There are also potential alternative non-dilutive funding sources increasingly being made available to ESG companies, such as grants and special tax credits, that may apply to some our products in the future.
None of this represents an incentive to work less hard to deliver our shareholder value. It does mean that we will remain true to our vision of making a positive ecological impact through innovation along the way. We consider our role as a socially responsible investment opportunity to be both an asset and a responsibility.
Finally, we have begun working with the excellent team at Tiger Global Management to increase our presence and visibility on social and digital media. We believe a great deal in our vision at Eco Innovation Group and feel it is in our shareholders’ best interests to tell our story to the world as we build toward powerful performance and tangible results.
To that end, we have committed ourselves to the task of getting our message out to our current and prospective shareholders and to the public at large with complete transparency.
As always, thank you for your continued support and commitment. We look forward to updating you again very soon.
Julia Otey-Raudes, CEO
About Eco Innovation Group
Eco Innovation Group was founded by Inventors and Business Professionals to help nurture and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value to our shareholders. At ECOX, we are dedicated to developing and commercializing successful products. But we will never lose sight of the fact that we exist, first and foremost, to help people and improve life on the planet we all share. We take our Social Responsibility Contract seriously in all our endeavors. It is not only what we do. It is who we are. For more information, visit www.ecoig.com.
FORWARD-LOOKING STATEMENTS: This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “project,” “estimate,” “expect,” “strategy,” “future,” “likely,” “may,” “should,” “would,” “could,” “will” and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company’s actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.
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