Innovest Energy Group Wins $1 Million Contract to Deploy New Technology at NYSE Listed Manufacturer, Largest Energy Group Contract to Date
CLEVELAND, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Innovest Global Inc. (OTC Markets: IVST ) (the “Company” or “Innovest”), a conglomerate with operations in commercial and industrial products and services, biotechnology, construction and building materials, won a $1.1 million contract with SIFCO Industries. The contract utilizes new technology introduced by Innovest in 2018, which is projected to be a key component of Energy Group growth in 2019.
The technology provides for estimated reduction of client operating costs by $400,000 per year in this case, with a lifespan of more than 20 years, to be implemented by reconstructing electric infrastructure at client facilities. The contract was signed the last week in December, and the project will be completed in the first half of 2019.
“Our Damon Mintz had the vision to go after this technology for us in 2018 while he was running our Energy Division, and he led our successful effort in the past few weeks to bring it entirely in-house. It provides our industrial clients a significant return on investment while being a profitable solution for us to execute. This is exactly the type of differentiation, innovation, and growth offering we pursue at Innovest,” said Dan Martin, Innovest’s founder, Chairman and Chief Executive Officer. “The Shepherd Energy team secured the client proposal, and will manage this project. Our entire energy team deserves credit for amazing execution in 2018, and positioning the division for significant growth in 2019.”
For Innovest, the second half of 2018 was marked by significant revenue growth and large, notable clients. Look for much more information to come soon about 2018 results, 2019 plans, and important developments.
About Innovest Global, Inc.Innovest Global, Inc. (OTC Markets: IVST ) is a conglomerate with operations in commercial and industrial products and services, energy, biotechnology, and health services. Our primary growth strategy is to acquire existing companies in a select few industries, and attract new customers in cost effective ways. Currently, we have a Commercial & Industrial Division, a Biotechnology Division, and a Construction & Building Materials Division.
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