Eco Innovation Group Profile
Eco Innovation Group, Inc. (Eco Innovation Group) is a socially responsible and sustainability-focused technology incubator devoted to the commercialization of select intellectual property that, given the right business platform, has the potential to achieve high-value commercial success.
The company’s value creation strategy is a strategic approach to environmental sustainability: it seeks innovative socially responsible products and technologies with the potential to create globally important paradigm shifts in energy efficiency and environmental sustainability. Consistent with its strategy, the company seeks to license, develop and market environmentally sustainable and socially responsible technologies that have compelling market potential.
As a technology incubator, Eco Innovation Group works to bring new technologies to consumers by providing the services needed to manufacture and distribute products incorporating the technology. The company provides technology developers with strong commercialization support from concept and product development to marketing and promotion, as described in greater detail below. With a focus on socially responsible and sustainable technologies, the company seeks out innovative inventors developing technologies with socially responsible benefits in the areas of energy efficiency, carbon emissions reduction, environmentally sustainable housing, green foods, and clean water. The company focuses specifically on developing sustainable and socially responsible technologies for the U.S. and international markets.
The company’s services are provided through a nine-step Evaluation to Market process, used to identify and develop scalable technology opportunities that will have market potential with the application of strong commercialization support. The Evaluation to Market process consists of the application of the company’s capital and management expertise through its provision of the following services:
Idea Generation: Identifying goods and services that fit the company’s corporate socially responsible and sustainable objectives.
Idea Screening: Working directly with Inventors, Developers and Entrepreneurs to identify products and services for commercialization.
Concept Development and Testing: Working directly with Inventors, Developers and Entrepreneurs to build prototypes and proof of concept for commercialization.
Market Strategy Development: The market analysis helps the company determine if a product has market potential and also meets the company’s corporate objectives.
Business Analysis: During this process the company identifies markets, competition, cost analysis, manufacturing options, logistics and distribution channels.
Technology Licensing: Using the company’s attorneys to protect IP with patents and trademarks, as well as licensing agreements.
Product Development: Engineering design, manufacturing prior to market introduction.
Test Marketing/Promotion: Using market analytics to test market and solidify the company’s market projections.
Commercialization: Introducing products to market and realizing revenue.
As part of the application of its capital and management expertise through this nine-step Evaluation to Market process, the company works closely with its inventors and innovators to develop and test the product concepts and applications, to build application-ready prototypes, to develop the technology marketing strategies, and work with the independent distributors, as well as the contract manufacturers to get final products to consumers. The company has identified and is working directly with several contract manufacturers to allow it to scale manufacturing capacity to meet expected product demand.
By employing a business plan purposefully designed to use leased employees, independent contractors and contract manufacturers to scale production and meet the demands of taking the company’s products to market.
Research and Development
For the year ended December 31, 2021, the company incurred $165 in development and manufacturing expenses.
Technology Agreements
JouleBox Power Station Contract Manufacturing Agreement
On August 25, 2020, the company signed a Master Outsourcing Contract Manufacturing Agreement with Eco-Gen Energy, Inc. (Eco-Gen), pursuant to which the company has contracted to manage the production and delivery of Eco-Gen’s JouleBox Power Station.
Under the Eco-Gen agreement, the company has contracted to provide material purchase and management services, supply base management services, final product and component production services, delivery services, inventory management services, and related financial services for the production and delivery of Eco-Gen’s JouleBox Power Station.
Power Booster Licensing Agreement
On May 4, 2020, the company signed a Master Exclusive Licensing, Marketing, Distribution and Sales Agreement with the Bellagio IP Trust for the Power Booster technology, giving the company the exclusive right to market Power Booster products.
The company licensed the Power Booster technology based on the company’s belief that the technology has the potential to achieve high-value commercial success. The company plans to engage third parties to market products using the Power Booster technology in the United States.
The Exclusive Global Licensing Agreement with the Bellagio IP Trust (Bellagio) (the Bellagio Agreement) grants rights to thec to market the Power Booster.
MagnoSpring Licensing Agreement
On October 26, 2020, the company signed an Exclusive License Agreement with Fortin & Associates LLC, a Delaware limited liability company (Fortin), giving the company the exclusive worldwide right to make, use, sell, lease, import, export, or otherwise dispose of products utilizing Fortin’s magnetic spring mechanical motor technology, including the right to have products using the energy efficient technology made by third party manufacturers.
PoolCooled Licensing Agreement
On June 8, 2021, the company and Lance E. Nist (Nist) entered into an exclusive license agreement (the Exclusive License Agreement), whereby the company acquired exclusive right to license and commercialize Nist’s proprietary climate control technology, PoolCooled. Specifically, Nist licensed the company the exclusive rights to research, develop, make, have made, use, offer to sell, sell, export, and/or import and commercialize, the PoolCooled technology, which is a proprietary climate control technology designed to cool residential and commercial buildings by taking cool water from existing swimming pools and looping it through the existing air conditioning system to boost air conditioning equipment efficiency on a per-unit power consumption basis.
The term of the Exclusive License Agreement began June 8, 2021, and will continue as an exclusive license until the expiration of all patents that may be granted for the PoolCooled technology.
On December 16, 2021, the company announced the filing of a patent application (Application No. 17/469,834) for the company’s licensed PoolCooled Climate Control technology solution.
Glytech, LLC Licensing Agreement
On December 16, 2020, the company entered into an Exclusive License Agreement (the Exclusive License Agreement) with Glytech LLC, a California limited liability company (Glytech), who owns the rights to a patented supercritical plant extraction technology (the Glytech Extraction Process). Under the terms of the Exclusive License Agreement, the company exclusively acquired a license to the intellectual property rights from Glytech to commercialize the Glytech Extraction Process, and the company agreed to pay for the costs of patent procurement for the Glytech Extraction Process.
Under the Exclusive License Agreement with Glytech, ECOX acquired the exclusive right to make, use, sell, lease, import, export or otherwise commercialize the Glytech Extraction Process.
On June 17, 2020, the company’s IP attorney filed U.S. patent application 16/904072 with the United States Patent and Trademark Office (USPTO) covering methods of extraction of plant materials obtained using the Glytech Extraction Process exclusively licensed to ECOX, on March 17, 2022, the company announced receipt of a Notice of Allowance from the USPTO for the patent application, and on April 19, 2022, the USPTO published the final patent with document ID US 11304986 B2.
The company is active in negotiating additional licensing and joint ventures in the areas of electrical technologies, green energy, energy efficiency, innovative heat exchange technologies designed for residential and commercial buildings, pathogen detection and mitigation, and green housing.
ECOX Spruce Construction, Inc. – U.S.A.
On January 4, 2022, the company formed a subsidiary, ECOX Spruce Construction, Inc., a California corporation (ECOX Spruce Construction), for the purpose of starting a green construction division in the U.S.A. Pursuant to a letter of intent (LOI) between ECOX and Edgar E. Aguilar (Aguilar), a resident of California and licensed California general contractor, Aguilar agreed to manage the operation of ECOX Spruce Construction’s construction business in California as its Responsible Managing Officer.
History
Eco Innovation Group, Inc. was incorporated in 2001.
