CORAL GABLES, FL, September 23, 2013 - (ACCESSWIRE) - Marine Exploration, Inc. (OTC Pink: MEXP) today announced entering into a Letter of Intent (LOI) agreement with Coordinated Systems International (CSI).
Coordinated Systems International (CSI), in partnership with General Electric offers an exclusive GE manufactured, GE warrantied, GradiLux Total Lighting System Solution.
In accordance with the LOI agreement, Marine Exploration will launch a new subsidiary Energy Services Company (ESCO) concentrating on energy solutions that reduce carbon emissions. The ESCO subsidiary will exclusively market, integrate and service the GradiLux Total Lighting System Solution.
CSI began its partnership with GE in 2006 using GE components and GE manufacturing capabilities. GE built an Energy Saving Lighting Controller per the CSI patented design. The partnership has continued to grow and now CSI incorporates the GE GradiLux Lighting Controller at the heart of the CSI Total System Solution.
"The GradiLux Total Lighting System Solution is an innovative technology that rapidly and affordably adapts legacy lighting solutions to substantially utilize less electricity and correspondingly reduce the carbon emissions from producing electricity," said Jaynie McGrath, founder and CEO of CSI. "The objective of CSI in being part of an ESCO is to see a portfolio of solutions built that compliment the GradiLux Total Lighting System Solution with additional innovative technologies that reduce power consumption and carbon emissions. I am confident in the ESCO plan that has been submitted by Marine Exploration."
Learn more about the GradiLux Total Lighting System Solution:
Learn more about Coordinated Systems International (CSI):
Marine Exploration launched a strategic effort over one year ago to diversify into new business lines. Marine Exploration will continue to deliver marine salvage services in the Dominican Republic in addition to introducing new business lines.
"In addition to the ESCO services introduced today, Marine Exploration Inc. recently announced details regarding a $1 million strategic investment to introduce a new offshore contract manufacturing line of business," said Mark Goldberg, CEO of Marine Exploration. "In the last month, Marine Exploration has taken initial steps with its first two potential contract-manufacturing clients. Marine has engaged in due diligence to verify the credit worthiness and project viability of manufacturing small engines on behalf of one client and water filters on behalf of a second client. Both potential clients currently have distribution agreements with brand name multinational big box retailers."
Marine Exploration, Inc. reiterates that this new business plan does not include a shareholder change of control.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.
Marine Exploration, Inc. Investor Relations
623 238 5245
SOURCE: Marine Exploration, Inc.
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