Ecogate Initiates Innovative 'Paid-by-Electricity-Savings' Financing Program Thursday March 10, 8:00 am ET Company Offers Industrial Ventilation Systems to Factories at No Upfront Costs
GLENDALE, Calif., March 10, 2005 (PRIMEZONE) -- Ecogate, Inc. (Other OTC:ECGT.PK - News), a manufacturer and supplier of patented, energy efficient and eco-friendly integrated industrial ventilation systems, announced that the Company is now offering a new financing program for its Ecogate System to potential customers. The ``Paid-by-Electricity-Savings'' program allows factories and manufacturing facilities to use the energy cost-savings produced by the Ecogate System within the initial months of use to pay for the system by applying the energy savings to the customer's monthly payments. Ales Litomisky, President of Ecogate, Inc., commented, ``The Company anticipates that this innovative financing can alleviate the financial concerns that potential customers have regarding the initial capital investment in our Ecogate System. For any large manufacturing facilities affected by dust and other air pollutants, Ecogate's ''Paid-by-Electricity-Savings`` offers several benefits including assistance in meeting OSHA regulations, a reduction in noise and pollution in the workplace and most importantly, a substantial reduction in energy costs without forcing companies to outlay great amounts of capital.''
The patented Ecogate System automatically closes gates at non-working machinery and continually optimizes the fan performance by using a variable speed drive, saving substantial amounts of electricity. After the Ecogate System is paid for, operating expenses are subsequently reduced by the cost of the saved electricity.
Incentive programs for installing energy efficient technology are available through government agencies and power utility companies in the U.S. and other countries. For 2005, there are $21 million in incentives designated for industrial projects saving electricity in the state of California. Incentive programs such as this can cover up to 50% of the system cost. For example, companies that save energy with the Ecogate System can receive fixed-price incentives (for example, 8.0 cents/kWh saved) for measurable energy savings achieved in the territory of Southern California EDISON, the primary utility provider in the Region. Other incentive programs are available from utility providers in 20 states.
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