Nova Films Says It Intends To Acquire RECO

New Mexico firm has develope proof of concept prototype that produces electricity and fuel using only solar energy and atmospheric carbon dioxide.

Published: 16-Feb-2001

VANCOUVER, Wash., Feb. 16 /PRNewswire/ -- Nova International Films, Inc. (OTC Bulletin Board: NIFI) announced today that it has signed a letter of intent to acquire substantially all of the assets of Renewable Energy Corp. ("RECO").

RECO has several proprietary projects underway in the energy, water and pollution industry and is based in Los Alamos, New Mexico. A main project is the production of commercial electricity and fuel (gasoline, diesel, etc.) using only solar energy and carbon dioxide obtained from the atmosphere. A "proof of theory" prototype has already been built and tested in Los Alamos. This patented project is directed by Dr. Reed Jensen, formerly with the Los Alamos National Laboratory.

Although a letter of intent has been signed, no assurance can be given that such transaction will be consummated.

Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected, or described pursuant to similar expressions.

SOURCE Nova International Films, Inc.

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