EL CAMPO, Texas, May 11 /PRNewswire-FirstCall/ -- Exousia Advanced Materials, Inc. (BULLETIN BOARD: EXOU.OB) , announces that the Company received three purchase orders from Vanquish Development Group, Ltd. for its Structurally Insulated Panel (SIPs) home building systems. The combined orders are worth in excess of $1.75 million.
The three purchase orders are for sixty-five (65) SIPs housing kits, which are to be used for a development in Houston, TX. The first twenty (20) SIPs building systems are scheduled for delivery in June. The remaining units are expected to ship during the third and early forth quarters of 2007.
"We are extremely pleased with the market validation for our SIPs building systems," stated Exousia Chairman & CEO, J. Wayne Rodrigue. "We are delighted that purchase orders for our SIPs components keep coming in. Exousia continues to receive significant inquiries from home builders and developers about our products, especially as the demand for affordable priced housing continues to grow."
On May 1st Exousia announced a strategic relationship agreement with Rosewood Corporation, a private investment company that works with Caribbean and African governments to create affordable housing programs. The agreement calls for Exousia to supply SIPs building systems for up to 7,900 homes in four countries and one U.S. Territory over the next five to seven years. "At an average price of $30,000 per SIPS building unit," Mr. Rodrigue explained, "the project has a revenue potential in excess of $230 million."
On March 29th, Exousia announced it had negotiated a Letter of Intent to acquire Product Spectrum Group, Inc. (PSG), an 18 year-old manufacturer of laminated walls, floors and high quality SIPs building components for residential and commercial construction. On April 24th, Exousia announced that it had received approval for $6.5 million in industrial bond financing by the City of Elkhart, Indiana and the Indiana Financing Authority to acquire PSG. Mr. Rodrigue added, "Proceeds from the bond financing will be used to expand the production capacity of PSG, which will allow us to take advantage of large-scale business opportunities."
"The need for affordable housing already exists across many parts of the U.S.," continued Mr. Rodrigue. "When you factor in the world-wide need for affordable homes, I believe that we have only begun to scratch the surface of Exousia's potential."
About Exousia Advanced Materials, Inc.
Exousia develops and commercializes advanced resins, engineered particles, and specialty products based on proprietary science related to the combination of plastic molecules, polymers and rubber composites. Exousia products enhance strength, durability, cost effectiveness and performance for a wide range of manufacturing, commercial, and construction applications.
About Vanquish
Vanquish Development Group is a specialty builder of affordable homes located in The Woodlands, TX.
Forward-Looking Statements
Statements released by Exousia Advanced Materials, Inc. that are not purely historical are forward looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the company's expectations, hopes, intentions and strategies for the future. Investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the company's business prospects and performance. The company's actual results could differ materially from those in such forward-looking statements. Risk factors include but are not limited to general economic, competitive, governmental and technological factors as discussed in the company's filings with the SEC on Forms 10-K, 10-Q and 8-K. The company does not undertake any responsibility to update the forward-looking statements contained in this release.
CONTACT Brokers: Surety Financial Group, LLC (410) 448-1130
Exousia Advanced Materials, Inc.
CONTACT: Brokers, Surety Financial Group, LLC, +1-410-448-1130
