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Innovative Energy Solutions Inc. Secures $3 Million in First Round of Funding

LAS VEGAS, July 21 /PRNewswire/ — Innovative Energy Solutions Inc. (iESi) today announced that it raised $3 million in its first round of financing. The investor group consists of more than 300 individuals from Canada, Europe and the United States. iESi will use the investment to accelerate product development, push market penetration and establish manufacturing facilities in Alabama. “The success of our initial funding is encouraging to iESi as we focus on executing our business endeavors and growing the company. The first round closed with an oversubscription of 200,000 shares, which demonstrates a substantial interest in our energy generating technologies and what they can do for a fuel-based economy,” said Ron Foster, chairman, iESi. iESi will open its second round of financing on July 29, 2004, by offering 500,000 shares at $4 apiece. Established in 2003, iESi’s mission is to offer clean, viable solutions to traditional energy sources, and reduce the world’s dependence on oil from the Middle East. iESi is organized into three broad divisions to maximize return on its intellectual capital and intellectual property. These divisions include low operating cost hydrogen generation, low operating cost heat generation and waste heat recovery. The company’s innovative energy products are protected […]

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Europe Approves Monsanto Roundup Ready Corn for Animal Feed

BRUSSELS, Belgium, July 20, 2004 (ENS) – After five years of a de facto moratorium on the marketing of genetically modified crops due to public opposition, the European Commission authorized Monday the import and processing of the first genetically modified crop. Monsanto’s genetically modified maize NK603 was approved for use in animal feed or for industrial purposes but not for cultivation or human food. This authorization is valid for 10 years. The NK603 line of maize, or corn, was developed to allow the use of glyphosate, the active ingredient in Monsanto’s herbicide Roundup, as a weed control option. The genetic modification allows the plant to survive the otherwise lethal application of glyphosate. A separate decision on authorizing the NK603 maize for use in human food will be taken in the coming months after EU agriculture ministers Monday failed to support the Commission’s proposal to allow its import for food. To read the whole article and to follow the Daily Environmental News, subscribe to Environment News Service for $24 a year! Website: [sorry this link is no longer available]     

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