I don't know anything about this company...just saw the news.
Apr 23, 2009 09:17 ETAlternative Green Technologies Enters Exclusive Representation and Distribution Agreement With Minimum Purchase Requirements of 50,000 Reddiform Insulated Concrete Forms for the Islands of Nassau, Abaco, and Long Island in the Commonwealth of the Bahamas, Paradise Island and Jamaica
Agreement Represents Potential Revenue of $825,000 USD Over the Next 12 Months
UNIONDALE, NY--(Marketwire - April 23, 2009) - Alternative Green Technologies, Inc. (PINKSHEETS: AGTI), a public company focused on reducing the carbon footprint in the world by acquiring and building green companies that help the environment, announced today that its Reddiform Worldwide subsidiary has entered a representation and distribution agreement with Bahamas Foam & Construction Products Ltd. for the exclusive right to sell and distribute Reddiform's green building product throughout the islands of Nassau, Abaco and Long Island in the Commonwealth of the Bahamas in addition to Paradise Island and Jamaica. Bahamas Foam & Construction Products must purchase a minimum of 50,000 Reddiform forms at a price of $16.50 USD in order to keep its exclusivity in these territories. Homes built out of Reddiform require an estimated 44% less energy to heat and 32% less energy to cool and can be designed for use in Earthquake Zones 4 and 5, and to withstand hurricane winds of 200 miles (330 kilometers) per hour.
Reddiform's features are perfect for these territories where energy costs are high and where hurricanes pose potential threats," stated Ron Ardres, Sr., founder and inventor of the Reddiform System and the Company's technical advisor. Bahamas Foam & Construction already have established themselves as an excellent dealer in building foam products and we look forward to a great relationship."
About Alternative Green Technologies, Inc.: Alternative Green Technologies (PINKSHEETS: AGTI) is a public company focused on the commitment to reduce the carbon footprint in the world by acquiring and building companies that help the environment in reducing carbon emissions in addition to reducing worldwide energy costs and waste.
Our subsidiary, Reddiform Worldwide, Inc., has the exclusive worldwide license in perpetuity to market, manufacture and sell ReddiForm Insulated Concrete Forms ("ICFs"), a green patented building product that allows for reduced energy costs while providing more economies and efficiencies in the construction process for homes, industrial and commercial buildings.
For more information about Alternative Green Technologies, Inc. go to www.altgreentech.com.
NOTE: This press release may contain "forward-looking statements." In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "potential," "continue" or the negative of such terms and other comparable terminology. These forward-looking statements include, without limitation, statements about our market opportunity, our strategies, competition, expected activities and expenditures as we pursue our business plan, and the adequacy of our available cash resources. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. Actual results may differ materially from the predictions discussed in these forward-looking statements. Changes in the circumstances upon which we base our predictions and/or forward-looking statements could materially affect our actual results.
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