Eco Innovation Group™ Signs Definitive Agreement and Commences Manufacturing of Next-Gen Supercritical Plant Extraction Device

Rhea-AI Summary

Eco Innovation Group, Inc. (ECOX) has announced a Definitive Agreement with Fluitron, Inc. to produce a prototype utilizing a novel non-CO₂ extraction technology. This patented method is expected to enhance efficiency by yielding superior viscosity fluids and reducing costs compared to traditional CO₂ methods. ECOX anticipates consistent and larger yields, positioning itself for significant opportunities in high-value markets such as cannabis, pharmaceuticals, and cosmetics. CEO Julia Otey-Raudes emphasized the technology's potential to revolutionize extraction processes.

Positive

• Signed a definitive agreement with Fluitron to produce a novel extraction prototype.
• Utilizes non-CO₂ technology for higher efficiency and yield.
• Potential to significantly reduce costs and improve consistency in extraction.

Negative

• None.

VAN NUYS, Calif., May 26, 2021 (GLOBE NEWSWIRE) -- Eco Innovation Group, Inc. (OTC: ECOX) ("ECOX" or the "Company"), an innovative company aggregating investments in new technologies that promote environmental and social well-being and the advancement of green energy solutions, announced today it has signed a Definitive Agreement with Fluitron, Inc. (“Fluitron”), and has commenced production for the development and manufacturing of a fully functional prototype based on the specialized non-CO₂ novel supercritical extraction technology exclusively licensed to ECOX™ by Glytech, LLC (“Glytech”).

Fluitron Inc., a Pennsylvania-based advanced pressure technology manufacturing company is manufacturing the prototype of the patent-pending extraction technology for ECOX.

Unlike current technology in the marketplace, this technology utilizes a non-CO₂ solvent and cofactors to extract selected bioactive compounds from plant materials. The result is an extracted fluid superior in viscosity to the output of current CO₂ -based extraction methods, while streamlining time, energy, and capital costs.

According to ECOX, this technology allows for larger yields in a more affordable process. It makes extraction more efficient and more consistent. This will allow customers to get the same product every time which is not currently the case with current extraction methods in use today including super critical CO₂. With a more fluid solution that is created by super critical extraction, it is expected that one can automate the process. It is expected that this technology will generate lower overhead costs to manufacturers and creates better overall yields.

Julia Otey-Raudes, President and CEO of Eco Innovation Group, said, “We are extremely pleased to have achieved this important milestone and now that we have begun the manufacturing process, we’re really excited to get this first one finished, and to show it to the world later this year. This has blockbuster potential and represents a huge opportunity for ECOX and businesses that move quickly to recognize this potential early to gain tremendous competitive advantage. “

This next generational technology is ideal for extraction technology for high-value plant-based products including licensed cannabis extraction products, and active compounds for the pharmaceutical, cosmetic, nutraceutical and other markets.

About Fluitron

Fluitron Incorporated is a manufacturing company specializing in high pressure equipment since 1976. Fluitron’s workforce is devoted to providing exceptional products and services.

About Eco Innovation Group

Eco Innovation Group was founded by Inventors and Business Professionals to help nurture and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value to our shareholders. At ECOX, we are dedicated to developing and commercializing successful products. But we will never lose sight of the fact that we exist, first and foremost, to help people and improve life on the planet we all share. We take our Social Responsibility Contract seriously in all our endeavors. It is not only what we do. It is who we are. For more information, visit www.ecoig.com.

View the Company’s new video Here.

FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance. Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.

Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.

Corporate Contact:
Eco Innovation Group, Inc.
Julia.Otey@ecoig.com
www.ecoig.com

Investor Relations:
Stuart Smith
SmallCapVoice.Com, Inc.
512-267-2430
ssmith@smallcapvoice.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d84ee2a5-41a3-4d05-b449-5686bc06af6d

FAQ

What is the new prototype being developed by ECOX?

ECOX is developing a prototype using a novel non-CO₂ extraction technology in collaboration with Fluitron.

How does the new extraction technology compare to CO₂ methods?

The new extraction technology is designed to yield a more viscous fluid and is expected to be more cost-effective and efficient than traditional CO₂ extraction methods.

What markets could benefit from ECOX's new extraction technology?

The new technology is ideal for high-value markets including cannabis extraction, pharmaceuticals, cosmetics, and nutraceuticals.

Who is manufacturing the prototype for ECOX?

The prototype is being manufactured by Fluitron, a Pennsylvania-based advanced pressure technology company.