SEATTLE, WASHINGTON — (Marketwire) — 02/16/12 — ecoTECH Energy Group, Inc (OTCBB: ECTH), headquartered in Seattle, WA, is pleased to announce that it has received a non-dilutive debt financing package from Corpfinance International Limited (CFI) to fund 60% or $55 Million CDN dollars of ecoTECH Energy Group (Canada) Inc.–s 5MW Power Plant and Aquaponic project in McBride B.C.
Colin Hall, Chairman and CEO of ecoTECH commented, “We are pleased to receive this commitment from CFI, one of the largest capital pools in Canada and look forward to building our operations in McBride, B.C. We believe that this project will be the start of a major regeneration of the industry in the area and that the economic opportunities to attract businesses will be ample. We are working with Corpfinance to complete the confirmatory due diligence process and to receive final approval of CFI–s investment committee.”
ecoTECH continues to receive political support from the Village of McBride and its Mayor Mike Frazier. The Village of McBride is continuing to work with the members of the Robson Valley Hydro Task Force in British Columbia to ensure development of the McBride Eco-Industrial Park and provide feasible solutions for the power transmission line. More information about the Village of McBride can be found at .
About Corpfinance International Limited (CFI)
CFI is partly owned by the Canada Life Assurance Company which is a wholly owned subsidiary of The Great-West Life Assurance Company. CFI has previously provided financing for numerous successful power projects in British Columbia (including Rutherford Creek, Furry Creek, McNair Creek, Zeballos Lake and Boston Bar as well as other BC Projects under construction: Tyson Creek) and across Canada, and we look forward to successfully financing the Bremner and Trio Creeks Hydroelectric Projects. More infor.mation about CFI and its parent company can be found at and http://www.greatwestlife.com.
About ecoTECH Energy Group, Inc.
ecoTECH Energy Group, Inc. is a development-stage renewable energy company which plans to manufacture biomass-fueled power stations that produce renewable and sustainable “green” energy products. ecoTECH specializes in the development and operations of thermal, 24/7, “firm” electricity supply from “zero-carbon-footprint” power stations which utilize proprietary ecoTECH technologies that have been continuously improved and refined over the past 30 years. ecoTECH intends to build five Combined Heat and Power Stations across North America during the next five to seven years. More information about the Company may be found at .
Notice regarding forward-looking statements
This press release contains forward-looking statements that may be subject to various risks and uncertainties. Such forward-looking statements are made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and may include statements regarding our future financial performance or results of operations, including expected revenue growth. Unless otherwise required by law, we undertake no obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise after the date of this press release. Additional information concerning risks and uncertainties that would cause actual results to differ materially from those projected or suggested in the forward-looking statements can be found in the reports that we have filed with the Securities and Exchange Commission.
Contacts:
ecoTECH Energy Group, Inc.
Investor Relations
(213) 254-2440