TORONTO, June 28, 2011 /CNW/ - Innovative Composites International Inc.
(TSXV: IC) ("ICI" the "Company"), announced today that it has secured a purchase order for a 880
square foot EcoScape house to be constructed on the island of Antigua
and serve as a show home for a large scale affordable housing program.
ICI expects to provide more details on the number of units to be
constructed as well as the timing of the program after a meeting with
Antigua and Barbuda government officials scheduled for late July.
ICI's EcoScape houses are certified as earthquake and hurricane
resistant, characteristics which are in very high demand in areas
affected by natural disasters. A turn-key 880 square foot house can be
erected in approximately two days by unskilled labour and without the
use of any heavy machinery. ICI will use a local general contractor as
well as local labour to build this and any other homes, thus creating
much needed employment in Antigua and Barbuda.
The enhanced durability of EcoScape homes through resistance to rot,
rust, mold, UV rays and insects makes them ideally suited for tropical
conditions and a perfect solution for large scale affordable housing
projects throughout the Caribbean.
"Currently demand for affordable housing in Antigua and Barbuda far
exceeds supply. ICI's high quality and sustainable building system that
can be erected in a short time with the use of local labour may be the
feasible solution to our housing shortage", Dr. McChesney Emanuel,
Consul General of Antigua and Barbuda - NY.
"This initial purchase in Antigua is further validation that our house
is the perfect solution to the housing needs of the islands in the
Caribbean. The ability to build EcoScape homes quickly at large scale
adds to our confidence to grow our business in Antigua and elsewhere,"
said ICI President and CEO Terry Ball. "EcoScape's built-in features
make it ideal for a tropical climate and the hurricane and earthquake
resistance provides protection much needed in the region," he added.
About Innovative Composites International Inc.
Headquartered in Toronto, Canada, ICI is a high-tech engineering and
manufacturing company established in 2007 by a group of entrepreneurs
with a successful track record in commercializing advanced materials.
The Company is currently focused in two areas: Structure LiteTM panels, a unique line of application-ready structural composite panels
and Hero 451TM, a line of environmentally friendly fire inhibitors and suppressant.
ICI's goal is to deliver products that exceed industry standards with
greater durability, strength, flexibility and safety.
ICI is partnering directly with leaders in its target industries as it
considers it to be the fastest way to bring products to market. ICI's
customized solutions are intended to provide partners with material
advantages over their competitors.
To find out more about Innovative Composites International Inc. (IC:
TSX-V), please visit our website at http://www.innovativecompositesinc.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
"Statements made in this press release include forward-looking
statements that involve a number of risks and uncertainties. These
statements relate to future events or future performance and reflect
management's current expectations and assumptions. A number of factors
could cause actual events, performance or results to differ materially
from the events, performance and results discussed in the
forward-looking statements, such as the economy, generally, competition
in its target markets, the demand for ICI's products and the
availability of funding. These forward-looking statements are made as
of the date hereof and ICI does not assume any obligation to update or
revise them to reflect new events or circumstances. Actual events or
results could differ materially from ICI's expectations and
SOURCE Innovative Composites International Inc.
For further information:
Chief Financial Officer
(416) 646 0754
Brisco Capital Partners