Hans J. Schulte, Chairman of the Board and Chief Executive Officer of Carbon Credits International, Inc. (OTCBB:CARN stock news), announced that the Company entered into an exclusive worldwide distribution agreement with Carbon Reducer Industries, Ltd. (“CRIL”) of Bangkok, Thailand to market and distribute CRIL’s proprietary next generation energy saving solutions for large energy consuming customers regardless of the business sector (“CRIL Solutions”). The agreement provides for the Company to pay an initial licensing fee of 6,000,000 shares of the Company’s common restricted stock. Further, the Company shall pay CRIL a commission of 15% of all gross sales proceeds derived from the commercial exploitation of the CRIL Solutions.
Mr. Schulte stated: “Our Next Generation flagship modules are capable to deliver the highest possible savings of energy savings based on our tailor made program settings and control system. The savings' solutions are delivered under the brand AmpescoTM solutions. AmpescoTM Ltd. is the contract manufacturer and majority owned by Carbon Reducer Industries Thailand.
The next generation modules under the Carbon Reducer Industries Thailand Contract agreement surpass and outrange by far the technical capabilities of our previous range.”
The Company further announced today that it has completed the installation of its first beta test site at the Bangkok facility of the multinational Japanese company, Thai Fujiseiki Co., Ltd., a wholly owned subsidiary of Fuji Seiki, Co. Ltd. (Japan) established in 2001, with stated capital of approximately $290,000,000, which employs approximately 150 people engaged in the manufacture and sales of precision plastic part mold for domestic and overseas customers. Thai Fujiseiki Co., Ltd.’s managing director, Mr. Nobumichi Kioke stated he was very excited to be the initial test installation in Thailand for the CRIL Solutions with the testified and proven 42% savings on the high bay lights and was looking forward to have all the factories equipped.
Finally, the Company held its Annual Meeting of Shareholders in Bangkok, Thailand on May 18, 2009. A majority of the shareholders voting in person and by proxy approved (1) the re-appointment of Hans J. Schulte to serve as director until his resignation or termination, and (2) the ratification of the Board’s approval of the Company’s 2009 Employee/Consultant Compensation Plan.
Carbon Credits International, Inc. is committed to providing clean energy saving solutions to our customers through the marketing and distribution of both branded & private label power saving devices and solutions.
This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created hereby. Such forward-looking statements involve known and unknown risks and uncertainties.
Carbon Credits International, Inc.
Hans J. Schulte, +66 89 866 1127
hans@carbon-reducer.com