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GEI Global Energy Corp. Announces Partnership for Italy Fuel Cell Deployment

July 2014

GEI Global Energy Corp. (OTCBB:GEIG), a fuel cell electric power generation company, announced the JV partnership execution with the Italian firm Associazione Italiana per lo Sviluppo Economico (AISVEC) to leverage the expanding global natural gas supply infrastructure to deploy its fuel efficient electric power generation devices within Italy and Europe.

Alessio Montanarini, AISVEC Vice President, states: "The competitive advantage of the GEI hybrid fuel cell electric power generation technology will address the paramount need to decrease the high energy costs in Europe, whose market amounts to 500 million people. Initially, the partnership will focus on the Italian market and later on Europe, the Balkans and CIS countries, addressing the 3000 public authorities and private companies connected to AISVEC. To this end, AISVEC is negotiating with governmental authorities in Central and Eastern Europe with regards to fuel supply, power requirements, and economic development".

"The GEI goal is to remove the fuel infrastructure as a commercialization barrier, and to provide the GEI hybrid fuel cell electric power generation technology to large scale potential consumers and thereby lowering manufacturing costs", stated Dr. K. J. Berry, GEI Chairman and CEO. "The partnership between the two firms will enable European companies to install the GEI hybrid fuel cell cogeneration power system, and take advantage of the new EU Policy on Climate Change. Also, companies will be able to leverage the large scale methane and natural gas infrastructure system presently in Italy and the rest of Europe to become grid independent", concluded Berry.

A pilot plant and technology showcase will launch in October 2014 providing over 6,000 kW-hr per month of combined heat and power (CHP) to a small municipality in Northern Italy. The partnership will focus on clean, efficient and environmentally friendly electric power systems within public owned buildings, shopping malls, commercial real estate, and industries.


AISVEC is an Italian economic association with a worldwide presence, supporting public authorities and private enterprises with easy access to credit facilities, investments, lobbying and bilateral agreements with foreign authorities and/or private partners.

About GEI Global Energy Corp.

GEI Global Energy Corp is a fuel cell electrical power generation company leveraging a menu of novel and innovative fuel cell power systems technologies to provide clean and inexpensive energy solutions for developing economies.

For more information regarding GEI GLOBAL's vision for an energy secure future, please click on the following video link:

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Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace including the ability to attract and retain customers, results of continuous improvement and other cost-containment strategies, and the Company's success in attracting and retaining key personnel. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information, since these statements may no longer be accurate or timely.

You are here: Home News & Events Three startups win more than $500,000 seed money
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Three startups win more than $500,000 seed money Print E-mail
by Gary Gosselin | Oakland Business Review
Monday July 07, 2008, 11:56 AM

Startup companies in Flint, Midland and Novi have landed more than $500,000 in pre-seed money to give their efforts a boost.

Flint's Global Energy Innovations, Inc. received $250,000; Novi's 3IS got $92,499 and Fulcrum Composites in Midland received $200,000.

"Support across the state for emerging businesses signals a collective commitment for creating new economy companies and jobs in Michigan," Skip Simms, Michigan Pre-Seed Capital Fund manager said in a statement. "The Michigan Pre-Seed Capital Fund is a resource that helps companies at a critical stage of formation and development work towards bringing products to market."
The three join 22 others that have received $5.4 million as part of a program that targets start-ups in one of the state's identified competitive edge technology and have the sponsorship of its local SmartZone. In addition, companies must have received grant, angel or venture capital funding greater or equal to funding requested of the Michigan Pre-Seed Capital Fund.

Global Energy, sponsored by the Ann Arbor/Ypsilanti SmartZone, provides advanced auxiliary high temperature PEM fuel cell power systems capable of reforming various fuel sources to provide multiple, reconfigurable power output channels.

3IS, sponsored by Automation Alley, received $92,499. 3IS is a business information aggregator that provides Web-based data portals for the global electronics industry.
Fulcrum Composites works with advanced materials and designs to develop structural components for the trailer and energy industries and was sponsored by the Mt. Pleasant/ Midland SmartZone.
The Michigan Pre-Seed Capital Fund is an equity fund that invests in technology-based companies to support business formation and acceleration. The fund will receive the same returns as the third party investor. The returns that the Michigan Pre-Seed Capital Fund receives from its investments will serve as seed money for the Fund's continuation.

Each SmartZone is responsible for recommending an investor to the review board. Ann Arbor SPARK serves as the Fund's administrator. The fund just received its first loan payback - with interest -- in May from an investment in a wind turbine startup company, Simms said.
But, he said, the organization only has funds for about five more investments with the original $8 million it was awarded in 2006 from the Michigan 21st Century Jobs Fund to operate the program.
Simms said he's talking to the Michigan Economic Development Corp. to obtain more funds and was confident the organization can be self-sustaining in just a few years.
"Those contacts have been made but its not a done deal yet," Simms said. "It's a high priority were told by MEDC and we're hoping to get funded fairly soon."
Over the 17-month life of the program so far, 70 companies have expressed interest and 31 have gone through the entire process.