Check this one out, HOT, Donner Corp sure helped this one. !
I bought some last week. news today.
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Imperial Petroleum Completes Rx Power Deal
EVANSVILLE, Ind.--(BUSINESS WIRE)--Jan. 25, 2002--Imperial Petroleum, Inc. (OTCBB:IPTM - news) announced today it has signed the definitive agreement with Rx Power and has secured a $2 million financing commitment for the project to market energy saving generator units developed by Rx Power using its patented technology.
As previously announced, Imperial will provide up to $2 million in capital in five phases to install electricity generating units using Rx Power's technology. Imperial will form a new subsidiary to own the units and develop the business.
Rx Power owns and has developed patented and proprietary technology in the engineering of its high-efficiency electricity generating units that allow improved precision spark generation, thermo-chemical reforming for greater fuel output and a remote monitoring electronics system that provides a capability for multiple units to act together as a single machine. The Rx Power generator uses natural gas as its primary fuel source and the units produce electricity at a significant discount to electricity generated using coal, nuclear energy, gas turbines or fuel cells. The primary consideration in the use of these units is the retail cost of natural gas. Rx Power has targeted the California market due to its proximity to its Paso Robles manufacturing facility and due to the high cost of electricity generation within the state, however we believe that many other states and countries can benefit from the application of this unique technology.
President and CEO of Imperial, Jeffrey T. Wilson said, ``We are pleased to complete our agreements with Rx Power and look forward to the development of a solid business in the on-site power generation arena. We have simultaneously secured a financing commitment for our capital outlay in the transaction and are poised to begin to install these unique units. Because of the cost-savings and the flexibility afforded by on-site power generation using the Rx Power equipment, we expect very high demand for the product and look forward to a very successful undertaking for both companies not only in the California markets but in other states and countries as well.''
Imperial Petroleum, Inc. is a diversified oil, natural gas and mining company. The Company's stock is traded in the over-the-counter market under the symbol IPTM.
The matters discussed in this news release contain certain forward-looking statements that are subject to certain risks and uncertainties, including but not limited to, risks associated with the ability of Rx Power to attract customers for its service, the ability of the new subsidiary to attract and maintain its client base and the ability of the company to market its services. Future results may differ materially from those reported here and the Company assumes no obligation to update the information contained in this release.
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biz.yahoo.com
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Imperial Announces Investment Banking Relationship With Donner Corp. International
EVANSVILLE, Ind.--(BUSINESS WIRE)--Dec. 5, 2001--Imperial Petroleum, Inc. (OTCBB:IPTM - news), announced today it has signed a non-exclusive investment banking agreement with Donner Corp. International.
Jeffrey T. Wilson of Imperial said, ``We are excited about our relationship with Donner Corp. International and the assistance they will bring to the future development of our Company's projects and prospects. We believe we have developed some very strategic and significant projects that will have a substantial impact upon the Company as we successfully develop and implement our business plan. We have diversified our business plan to include certain opportunities that have presented themselves within our ability to maintain control over the projects, reasonably assure ourselves of the ability to secure future capital as required and control overhead. We believe that the addition of Donner Corp. International and its investment banking capabilities can assist us in gaining exposure and stature as we grow.''
Imperial, through its subsidiaries and affiliates, is active not only in its primary areas of focus, gold mining and crude oil and natural gas production, but also in other aspects of mining such as platinum. Through its recently announced plans to develop and install on-site electrical power generation units in conjunction with Rx Power for installation in the California marketplace, Imperial is positioning itself in a unique niche within the power generation business that will compliment the development of its natural gas business. In addition to its mining and energy endeavors, the Company is active in environmental industries including wastewater management (Imperial Environmental), industrial water treatment systems (AquaDyn Technologies) and in crude oil reclamation technology.
Imperial is headquartered in Evansville, IN.
The matters discussed in this news release contain certain forward-looking statements that are subject to certain risks and uncertainties, including but not limited to, risks associated with finalizing a definitive agreement, the ability of the subsidiary to attract and maintain its client base and the ability of the company to market its services. Future results may differ materially from those reported here and the Company assumes no obligation to update the information contained in this release. |
