Equisol Completes Acquisition of Tower Turbines Inc. With Potential Revenue of $62 Million for the First Four Years
Environmental Infras (OTCBB:EIHC)
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1 Month : May 2011 to June 2011
Equisol LLC, a wholly-owned subsidiary of Environmental Infrastructure Holdings (OTCBB: EIHC), which is the parent company of various environmental manufacturing, engineering and services companies, announced that it signed the purchase agreement to acquire 100% of the stock of Tower Turbines, Inc. Consideration paid for the sale consisted of 2 million common stock shares with a 1 year restriction period and a $50,000 3 year term note bearing 12% interest annually.
Tower Turbines is focused on providing renewable, green power generation by developing and commercializing patentable processes using currently available technologies to capture energy from water flow in existing and new water towers. The company's target market initially consists of 1750 water towers with an anticipated revenue generation of $250,000 per tower per year.
