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Enterprise Group Announces Exclusive Agreement with World Leading Turbine Manufacturer
2024-09-26 16:11 ET - News Release
St. Albert, Alberta--(Newsfile Corp. - September 26, 2024) - Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (hereinafter referred to as "Enterprise"). Enterprise, a consolidator of energy services (including specialized equipment and services to the energy/resource sector), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) and other harmful emissions for small local and Tier One resource clients, is pleased to announce a new strategic exclusivity agreement with FlexEnergy Solutions, a globally recognized original equipment manufacturer of turbine and microturbine power generation equipment. This landmark agreement positions Enterprise and it's wholly owned subsidiary Evolution Power Projects (hereinafter referred to as "EPP") as the sole provider of short-term turbine and microturbine applications across all commercial and industrial sectors in Alberta and British Columbia.
The five-year agreement, underscores EPP's commitment to expanding its market presence and delivering state-of-the-art energy solutions in key Canadian markets. Under this agreement, EPP will exclusively supply cutting-edge, efficient turbine units for temporary power needs, reinforcing its leadership in the energy sector.
"This agreement represents a significant milestone in our strategic growth initiatives," said Leonard Jaroszuk, CEO of Enterprise Group. "Partnering with a world-class turbine manufacturer not only enhances our product offerings but also strengthens our market position as a comprehensive energy solutions provider."
"We are excited about our new partnership with Evolution Power Projects, as it demonstrates the growing market acceptance of our solution for clean, reliable, and cost-effective power generation," said Doug Baltzer, Chief Executive Officer of FlexEnergy Solutions. "Evolution Power Projects has developed into our newest and fastest-growing partner, and we are pleased to strengthen our relationship with them as we look to our next chapter of growth. Our turbine is well-suited for them to deliver a comprehensive solution to customers in the challenging environment in which they operate."
In addition to exclusivity, the agreement includes a reciprocal referral arrangement whereby both EPP and FlexEnergy Solutions will direct clients to one another based on the specific long-term or short-term energy needs of the client. This collaborative approach is designed to enhance customer service and ensure that clients receive the most effective and efficient energy solutions available. The exclusivity agreement is effective immediately.