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Ultra Pure Water Technologies, Inc. Announces Installation of "Ice Island" Systems at IBC Represented Convenience Store Chain LAFAYETTE, LA, Nov 10, 2005 (MARKET WIRE via COMTEX) -- Ultra Pure Water
Technologies, Inc. (OTC: UPWT) (Ultra Pure) announced today that ICEX Holdings
Ltd., Inc. (ICEX), a wholly owned subsidiary of Ultra Pure, has been contracted
to install ten (10) of the ICEX "Ice Island" proprietary ice production units
for Independent Buyers Co-Op (IBC). The units will be installed in ten
convenience stores in and around the Dallas, TX area.
Ultra Pure
Water Technologies Inc.
Lafayette, Lousiana
Phone: 337-233-7317
Fax: 337-233-7417
Toll Free
866-418-ICEX (4239)
866-31ULTRA (85872)
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Lafayette, Louisiana – October 20, 2005 – Ultra Pure Water Technologies, Inc. (OTC.PK:UPWT) (Ultra Pure) announced today that the company has executed a Program Agreement (the “Program Agreement”) with Noreast Capital Corporation of Annapolis, Maryland (“Noreast”), pursuant to which Noreast has agreed to finance the installation of the “Ice Island” self-contained ice production machines (“Ice Island Machines”) that will be manufactured, marketed, sold and managed by the company and its affiliates through a Fee-Per-Use vendor management program developed specifically for the company (the “Program Agreement”). The “Ice Island” system is a proprietary ice production unit manufactured by ICEX Holdings, Ltd., Inc. (ICEX), a wholly-owned subsidiary of Ultra Pure.
In connection with entering into the Program Agreement, Noreast issued a letter to the company (the “Letter of Commitment”), wherein Noreast memorialized its commitment to finance no less than 5000 Ice Island Machines beginning with installations already contracted for in 2005. The commitment is contingent upon the credit worthiness of the potential lessee that desires to enter into the Program Agreement. The Company intends to lease its Ice Island Machines to national and regional convenience and grocery store chains.
The total amount of financing to be provided by Noreast under the Program Agreement will depend entirely upon (i) the number of Ice Island Machines leased to each location/store, and (ii) the configuration and capacity of each leased Ice Island Machine. Based on the Company’s business model and assuming the credit-worthiness of all lessees, Ultra Pure estimates that approximately $75 million in total financing will be provided by Noreast under the Program Agreement.
Pursuant to the terms set forth in the Program Agreement, Noreast will be responsible for all billing to and collection from the lessees of the Ice Island Machines that qualify to enter the Program Agreement and lease the Ice Island Machines from Noreast. The standard term of the lease for the Ice Island Machines will be five years.
Daniel LeBlanc, President of ICEX stated, “We are extremely pleased with the commitment from Noreast Capital Corporation for the financing of our “Ice Island” system. The Noreast commitment will allow Ultra Pure and ICEX to fulfill the orders for the “Ice Island” received to date. We now can move forward with our aggressive marketing plan for the convenience and grocery store industries knowing that we have a solid financial partner in Noreast Capital. The innovative financing program developed by Noreast Capital specifically for Ultra Pure has the flexibility to allow Ultra Pure to accept orders for the “Ice Island” throughout the United States in 2005/2006. We anticipate building a long and lasting relationship with Noreast Capital that will allow for the installation of “Ice Island” production units wherever the needs are justified to increase the profitability of ice sales at convenience and grocery stores throughout the continental U.S.”
About Noreast Capital Corporation
Noreast Capital Corporation is a nationwide finance & leasing company that provides competitive financing for a broad array of business equipment and titled vehicles to customers ranging from small fledgling businesses to "Fortune 500" corporations. Noreast Capital, a leader in vendor financing programs, offers comprehensive leasing services to equipment manufacturers, distributors and software providers. Noreast Capital's extensive leasing knowledge and sales/finance expertise can help companies increase sales through user-friendly financing programs designed to meet each customer's individual needs. Noreast Capital Corporation is located in Annapolis, Maryland.
About ICEX Holdings, Ltd., Inc.
ICEX is a wholly owned subsidiary of Ultra Pure Water Technologies, Inc. with headquarters located in Lafayette, LA and a manufacturing support division located in Phoenix, AZ. The company manufactures a proprietary ice production unit known as the “Ice Island” system. The system is an on-site ice production, bagging, and storage unit. The patent-applied for technology totally automates production and packaging of ice products in a portable configuration installed at the customer’s site. The target markets for the Ice Island system include convenience stores, grocery stores, hotels, resorts, hospitals and industrial complexes.
About Ultra Pure Water Technologies, Inc.
Ultra Pure Water Technologies, Inc. is engaged in the manufacture, sale, and rental of pure quality water purification equipment utilizing reverse osmosis filtration processes and water vending equipment. The company’s products address various water treatment applications for commercial, residential, industrial, and institutional purposes. These applications range from providing purified drinking water through our reverse osmosis self-filling water coolers and under-the-counter systems to equipment for producing water for municipal systems with capacities exceeding 200,000 gallons per day utilizing desalination and reverse osmosis processing equipment.
Legal Notice Regarding Forward-Looking Statements: “Forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Ultra Pure Water Technologies, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to, risks associated with changes in general economic and business conditions (including changes in technology), actions of our competitors, the extent to which we are able to develop new services and markets for our services, possible failure of products in the market for any number of reasons, the time and expense involved in such development activities, the level of demand, failure of patents to adequately protect our products, market acceptance of our services and changes in our business strategies and many others.
For more information, please contact:
ICEX Holdings Ltd., Inc.
Daniel LeBlanc, President
Ultra Pure Water Technologies, Inc.,
310 E. Gloria Switch Road
Lafayette, Louisiana 70507
Telephone: 337.233-7317
Facsimile: 337.233.7417
Email: info@upwt.com
Web site:
www.ultrapurewatertechnologies.com
www.upwt.com
Noreast Capital Corporation
Jeff Kreis, Business Development Manager
Annapolis, Maryland
Telephone: 410.268.5588
Web site: www.noreastcapital.com
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