[January 20, 2005] Encore Clean Energy, Inc. Announces New Wind/Hydro Development LLC Tweet VANCOUVER, British Columbia, Canada --(Business Wire)-- Jan. 20, 2005 -- Encore Clean Energy, Inc. (OTCBB:ECLN) ("Encore") is pleased to announce the formation and initial funding of a new Delaware Limited Liability Company ("LLC") to be named World, Wind and Water Energy LLC. The purpose of the LLC is to further develop the wind and hydro turbine patent Encore exclusively licenses from clean-energy inventor Robert Hunt. The LLC was formed on December 17th, 2004, with three founding partners. In return for 60% ownership of the LLC, Encore has agreed to transfer to the LLC all of its license rights to Robert Hunt's patented Vertical Axis Wind Turbine ("VAWT") technology invention. This represents three of twenty two Hunt patents licensed by Encore. In return for 30% direct ownership of the LLC, Mr. Hunt has agreed to transfer full ownership of these three patents to the new LLC. In return for a 10% interest in the LLC, The Abell Foundation of Baltimore, Maryland has agreed to a cash contribution of $100,000 in two payments of $50,000 subject to certain terms and conditions. Abell has also been granted a warrant to purchase up to an additional 25% of the LLC for a three (3) year period. This warrant allows Abell to purchase one (1%) percent increments for $20,000 each. This allows for a potential additional investment of $500,000 if the entire additional 25% is purchased. Abell's exercise of any part of this warrant would pro-rata dilute both Encore and Hunt. The new LLC has been formed for the purpose of developing larger working prototypes of Hunt's existing VAWT invention and ultimately to manufacture and market the resulting energy producing devices. For additional information to please refer to Encore Clean Energy's recent form 8K filed with the SEC. The Abell Foundation: Abell (www.abell.org), based in Baltimore, Maryland was established over half a century ago. The foundation's mission is to enhance the quality of life in Baltimore and the surrounding region, with particular emphasis on education, health and human service and economic development. Through its grant-making and research reports, the Foundation's focus includes addressing complex challenges to break the cycles of urban poverty. Today, the Foundation places a high priority on creating solutions that are both innovative and ensure accountability. The Abell Foundation is committed to opening the doors of opportunity to the disenfranchised, knowing that no community can thrive if those who live on the margins are not included. In pursuing its mission, the foundation invests in companies that create jobs in Baltimore and promote various social objectives, including renewable energy. Encore Clean Energy, Inc: Encore is developing and plans to ultimately market a number of clean energy generating technology facilities some of which are patented and others proprietary. The Company is also evaluating state of the art clean energy devices supplied by third parties to be sold in conjunction with Encore's products or on a stand-alone basis. This release contains certain forward- looking statements regarding potential future events and developments affecting the business of Encore Clean Energy, Inc. These forward- looking statements involve known and unknown risks, uncertainties and other factors not under Encore Clean Energy, Inc's control which may cause actual results, performance or achievements of Encore Clean Energy, Inc to be materially different from the future results, performance, achievements or other expectations expressed or implied by these forward- looking statements. [ Back To TMCnet.com's Homepage ]