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.
About Enterprise Group, Inc.
Enterprise Group, Inc ($E.TO | $ETOLF) is a consolidator of services-including specialized equipment rental to the energy/resource sector. The Company works with particular emphasis on systems and technologies that mitigate, reduce or eliminate CO2 and Greenhouse Gas emissions for itself and its clients. The Company is well known to local Tier One and international resource companies with operations in Western Canada. More information is available at the Company's website www.enterprisegrp.ca. Corporate filings can be found on www.sedarplus.com. For questions or additional information, please contact:
About FlexEnergy Solutions
FlexEnergy Solutions is a leader in clean, reliable, on-demand power solutions for industrial and commercial institutions that require consistent, reliable power in 250 kW, 333 kW, and 2 MW offerings. We lease and service the most resilient, clean gas turbines available for off-grid or grid parallel applications. Our turbines are ideal for remote, extreme climates and our customers rely on our ability to deliver the highest quality engineering, power, and support 24/7, 365 days per year.
For more information, please visit www.flexenergy.com.
Forward-Looking Information This news release may contain certain forward-looking information, as defined under applicable Canadian securities legislation, that is not based on historical fact, including without limitation statements containing the words "believes," "anticipates," "plans," "intends," "will," "should," "expects," "continue," "estimate," "forecasts" and other similar expressions. In particular, this news release includes forward-looking information relating to the Facility and the Company's intention to pursue acquisition opportunities and to purchase shares pursuant to the normal course issuer bid. Actual results, events, or developments could be materially different from those expressed or implied by these forward-looking statements. There is no assurance that any of the events or expectations will occur or be realized. By their nature, forward-looking statements are subject to numerous assumptions and risk factors including those discussed in the Company's Annual Information Form and most recent MD&A which are incorporated herein by reference and are available through SEDAR at www.sedarplus.com. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement and are made as of the date hereof. The Company disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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