Science & Technology
Science and Technology
Science and Technology
Thu, September 6, 2012 EcoloCap Solutions Inc. Signs Non-Binding LOI with Ministry of Energy and Coal Industry of the Ukraine. EcoloCap Also Signs LOI
September 06, 2012 10:41 ET
EcoloCap Solutions Inc. Signs Non-Binding LOI with Ministry of Energy and Coal Industry of the Ukraine. EcoloCap Also Signs LOI with the PIK Group of Russia
EcoloCap CEO, Michael Siegel and Chairman Jeung Kwak are presently in the Ukraine to Finalize Distribution and Sales Agreement between the Parties
BARRINGTON, ILLINOIS--(Marketwire - Sept. 6, 2012) - EcoloCap Solutions Inc. (OTCQB:ECOS) EcoloCap Solutions has signed a non-binding letters of intent with the Ministry of Energy and Coal Industry of the Ukraine and the PIK Group of Russia ([ http://www.kmu.gov.ua/control/en/publish/article?art_id=89307&cat_id=73007 ]) for the purpose of introducing EcoloCap's M-Fuel technology to the Ukrainian oil-processing industry with a view to save the Ukraine's ecology and modernize statewide operations.
Additionally Jeung Kwak, Chairman of EcoloCap and Michael Siegel CEO are traveling in the Ukraine at present for a ten-day trip that will include Kiev and Donetsk. The purpose of the trip is twofold. Mr. Siegel will be finalizing agreements between the Ukrainian Government and the PIK Group. Additionally the PIK Group has made arrangements for Mr. Siegel to present ECOS technology to heads of industry and government leaders for future projects.
Representatives of the Ukrainian government have committed to visit EcoloCap's facility in Korea and further, test the M-Fuel technology in a Ukrainian government laboratory to create a new standard for diesel fuel in the Ukraine. The Ukrainian Government plans to sign a definitive agreement with EcoloCap for the introduction the M-Fuel technology to the entire energy sector in the country.
The PIK Group ([ http://www.pik-group.com/about-us/our-history ]), a company trading on the London Stock Exchange, is amongst other things, the largest real estate company in Russia and will be taking the lead in the introduction of M-Fuel into the energy sector into the Ukraine and other parts of Eastern Europe.
Michael Siegel, EcoloCap's CEO states: "This a very exciting time for ECOS. With the PIK Group taking the lead for the introduction of M-Fuel in Eastern Europe and the Government of the Ukraine creating a standard for Emulsified Fuels in the Ukraine, this more than makes worth while all the time and money invested into this technology and should bring proper reward to our shareholders."
About The Company: EcoloCap Solutions Inc. (OTCBB:ECOS) is focused on technologies utilizing advanced nanotechnology to design, develop, manufacture and sell alternative energy products. [ http://www.ecolocap.com ]
Forward looking statement:
This press release may contain statements of a forward-looking nature regarding future events. These statements are only predictions, and actual events may differ materially. Please refer to documents EcoloCap Solutions Inc. files from time to time with the Securities and Exchange Commission for a discussion of certain factors that could cause actual results to differ materially from those contained in the forward-looking statements.
