National Energy Services Company, Inc. Subsidiary Begins Expansion Into Renewable Energy Markets
Dr. John G. Kalogeris, Chief Executive Officer of National Energy Services Company, Inc. (OTCBB: NEGS), announces the agreement to act as the retail sales arm of New World Energy Systems. The company is expanding its services to sell and install micro-turbines in California and the Southwestern United States to residential and commercial structures. The project has several qualified applicants for the initial installations by the Company.
The installations consist of a micro-turbine power generator powered by natural gas with only one moving part. The homeowner will see their power bill reduced to $35 per month. The installations range from $28,000 to $45,000 depending on the products installed, which can include the micro-turbine, a new high-efficiency HVAC unit, water systems and water heaters. The excess power from each installation is sold through the grid to the local power company with New World Energy Systems receiving the benefit. A typical example shows the power companies returning approximately $19,000 per year per installation at current rates in Southern California. The Company expects to have the first 300 installations completed in the early fall of 2010, after beginning installations in late June.
"Our goal is to install at 2,000 sites in our first year and expand that market substantially each year thereafter. These systems are not new to the market and we have other opportunities for partnerships that will increase our sales but not our costs for marketing. These systems reduce the average homeowner’s power bill by 80% in most instances and are being sought after by large numbers of prospective buyers. The first 300 units in sales come from New World's marketing program through its affiliates at home shows, alternative energy forums and through mass marketing," Dr. Kalogeris commented.
We are currently negotiating for participation in the power company sales portion of this endeavor which would expand our revenues with limited cost.
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