N@N

Octus Energy: Octus Energy Signs Letter of Intent With University of California to Negotiate Energy Efficiency Technology Licen

^{Published on 2009-03-17 08:02:21, Last Modified on 2009-11-03 19:08:33 - Market Wire}
 

DAVIS, CA--(Marketwire - March 17, 2009) - Octus Inc. (OTCBB: [ OCTI ]) ([ http://octusenergy.com ]) today announced it has signed a six-month letter agreement with the University of California (UC) to exclusively pursue the license of UC's patent-pending Wicking Condensate Evaporator at AC Condenser (Wickool). UC has agreed to negotiate a license agreement to provide Octus with exclusive worldwide patent rights to Wickool, which was developed and commercially tested by the UC Davis Western Cooling Efficiency Center (WCEC), in all fields of use, with full rights to sublicense.

"This is an important milestone for Octus Energy as we implement our strategy to commercialize industry-leading energy efficiency products," said Chris Soderquist, Octus CEO. "The WCEC drives innovation in the heating and cooling industry, and Octus is primed to help commercially harvest the fruits of their technology development."

Wickool, which is being commercially tested by Target Corp. and Wal-Mart, is a retrofit to commercial rooftop HVAC units. Wickool repurposes, with no electrical connections or moving parts, the evaporative condensate created by HVAC systems to improve their energy use.

"Wickool recovers value from the cool water that drips from commercial air conditioning systems as they dehumidify indoor air," explained Richard Bourne, co-inventor of Wickool and associate director of the WCEC. "By improving cooling performance and eliminating the need for drain piping, Wickool offers a cost-effective new energy-efficiency strategy for rooftop cooling units in most U.S. climates."

"This collaboration between WCEC and Octus Energy is a prime example of how world-class innovations can be brought to market," said Benjamin Finkelor, executive director of the UC Davis Energy Efficiency Center. "There is tremendous potential to improve the efficiency -- and reduce the electricity consumption and peak electricity demand -- of HVAC systems. Wickool is a simple, pragmatic, ready-to-monetize solution."

About Octus

Octus Energy (OTCBB: [ OCTI ]) seeks to become the leading renewable energy efficiency company that brings innovative energy efficiency and renewable energy solutions to the commercial and public sector markets. The company intends to monetize its Repower. Renew. Results.™ strategy through Renewable Energy-Efficiency Projects (capitalize, own, manage energy systems) and Energy-Efficiency Products (license, acquire, commercialize HVAC and lighting efficiency solutions). Octus believes the nexus of, and market demand for, energy conservation and energy creation presents a compelling and timely business opportunity.