Reno, NV, May 25, 2006 — EPOD International Inc. (EPOD), a developer of advanced energy management technologies and solar panel manufacturer, announced the company has executed a binding agreement to sell 17% of the equity in the company’s to-be-built Kelowna solar panel factory.
Further to EPOD’s announcement regarding the company’s intent to sell up to 49% of the equity in EPOD’s to-be-built solar panel factory, the company has entered into agreements to date to sell 17% of the equity in the Kelowna facility for cash proceeds of $525,000. Closure of the equity sale is anticipated to be on or before May 31, 2006.
Construction of EPOD’s Kelowna solar panel manufacturing plant is projected to begin in August 2006. When completed, the plant is projected to have an aggregate annual output of five megawatts.
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