Global Innovative Provides Update on Business Development Activities for Energy Savings Products
HONG KONG -- Octber 5, 2006 -- Global Innovative Systems Inc. (OTCBB: GBSY) announced today updates on several business development activities underway in Hong Kong, Macau and mainland China for its energy savings products.
In Hong Kong, Global Innovative, through a wholly owned subsidiary, has completed a pilot program which involved the installation of T5 lighting systems for the New World Centre. T5 lighting is a high-output fluorescent lighting system which enhances energy efficiency up to 50% while providing illumination levels equivalent to or greater than conventional lighting systems. Use of this product also improves the quality of emitted light by reducing glare and by enhancing color appearance and rendition. Global Innovative's T5 product design also includes impact-resistant lighting tubes and electronic ballasts, which enhance the lifespan of the system in comparison to conventional lighting systems. Compared to the existing T8 lighting used previously by the client, the T5 lighting system achieved an energy savings rate of 35%. Based on these results, Global Innovative's subsidiary received an initial purchase order for T5 lighting systems, with additional orders expected in the future. The New World Centre has a gross floor area of 2.5 million square feet and includes the 6-level New World Shopping Centre, 2 office towers, a 518-room apartment tower, a 543-room hotel and a 1,800 car park facility.
In mainland China, Global Innovative, through wholly owned subsidiaries, has completed a pilot test involving the installation of 600 units of T5 lighting in the Guangzhou office of i-CABLE Communications Limited. Global Innovative anticipates potential contracts for T5 lighting systems for i-CABLE's offices in mainland China and Hong Kong if the pilot program results are satisfactory to the client. In addition, Global Innovative has been invited by i-CABLE to improve the indoor air quality of i-CABLE's office buildings through the potential installation of DryKor Dehumidification systems, a product distributed by Global Innovative which improves indoor air quality by simultaneously dehumidifying and cooling air. Use of the DryKor system enables customers to attain targeted temperature and humidity levels more quickly than conventional air conditioning systems, and to lower the overall electricity usage and energy costs of a client's air conditioning system. DryKor products can be installed either alongside conventional air conditioning units or as an alternative to them. i-CABLE Communications Limited, based in Hong Kong, provides pay-television programming, cable, Internet and multimedia services.
In Macau, Global Innovative's subsidiary participated in the 11th Macau International Trade and Investment Fair (MIF) from September 23-26, 2006. The MIF is Macau's largest international integrated exposition offering opportunities for trade promotion, product display, commercial partnering and sales promotion. Over the years, it has played an active role in attracting overseas investment, expanding imports and exports and facilitating trade and business co-operation. During the exhibition, which attracted approximately 60,000 visitors from 47 countries, Global Innovative's subsidiary received over 200 enquiries and leads from corporate and government entities from Macau and mainland China. The majority of potential clients expressed interest in Global Innovative's energy saving T5 lighting systems, and its proprietary Eco-Pro Energy Saver (TM) system.
"Global Innovative and its subsidiaries' initiatives continue to develop new sales opportunities within our primary market areas of Hong Kong, Macao and mainland China for our advanced energy saving products, including T5 lighting systems," said Bondy Tan, President and CEO of Global Innovative. "Given the energy shortages prevalent in these regions, the demand for energy savings products remains robust. These and other business development initiatives we are undertaking continue to feed new clients and new sales contracts into our sales pipeline. We look forward to continuing our aggressive sales development efforts, and to delivering upon new contracts realized through these efforts."
About Global Innovative
Global Innovative Systems Inc. (OTCBB: GBSY) delivers customized energy management solutions, lighting products, innovative lighting solutions and construction services. Since 1999, over 100 commercial, industrial, government and multi-residential clients have benefited from Global Innovative's solutions. Through wholly owned subsidiary Tech Team Holdings Limited, Global Innovative provides total energy management products and solutions which optimize energy consumption, lower costs, and enhance competitiveness for clients. Through subsidiary Beijing Illumination (Hong Kong) Limited, Global Innovative manufactures and sells HID (High-Intensity Discharge) lighting products and Ultra High-Pressure Mercury Lamps. Through joint venture subsidiary Lightscape Technologies (Macau) Ltd., Global Innovative provides full service lighting design solutions including interior set design and fabrication, computer-controlled special effects, intelligent lighting, laser and multimedia technologies. Through joint venture subsidiary Pro Shing Construction Team Macau Limited, Global Innovative provides a comprehensive range of design and build services for major development projects, including site foundation construction, building construction and fitting-out work. Our headquarters are in Hong Kong, and we have offices in Singapore, China, Macau and Canada.
Safe Harbor Provision
The Private Securities Litigation Reform Act of 1995 provides a "Safe Harbor" for forward-looking statements. This Press Release may contain, in addition to historical information, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from Global Innovative's expectations, and Global Innovative expressly does not undertake any duty to update forward-looking statements. These factors include, but are not limited to, Global Innovative's and its subsidiaries' ability to secure additional T5 lighting product orders from the New World Centre; Global Innovative's and its subsidiaries' ability to achieve results satisfactory to the client from the pilot test program with i-CABLE Communications Limited; Global Innovative's and its subsidiaries' ability to secure T5 lighting product orders from i-CABLE Communications Limited; Global Innovative's and its subsidiaries' ability to secure orders for its distributed DryKor Dehumidifiaction system from i-CABLE Communications Limited; Global Innovative's and its subsidiaries' ability to secure orders from sales leads developed at the MIF; Global Innovative's and its subsidiaries' ability to secure sufficient working capital in order to manufacture and deliver equipment that may be ordered through new sales contracts; Global Innovative's and its subsidiaries' ability to collect payments receivable under sales contracts that may be signed; and other factors which may cause the actual results, performance or achievements of Global Innovative to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
Distributed by Filing Services Canada and retransmitted by Market Wire
Source: Marketwire (October 5, 2006 - 4:09 PM EDT)
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