GEOSmart Loan program
KETTERING, Ohio —January 17, 2008 — EarthLinked Technologies, Inc., Lakeland, Florida today endorsed the GEOSmart Loan program offered through a partnership between GE Money & the Electric & Gas Industries Association (EGIA).
The GEOSmart Loan program, sponsored by EGIA and funded by GE Money’s Sales Finance unit, provides both installment and revolving financing options and is available through EGIA-approved contractors to assist consumers looking to purchase an EarthLinked® geothermal heating, cooling and water heating systems for their home. “This financing opportunity allows homeowners to break the dependency on fossil fuels that are causing spiraling costs, increased uncertainty and contributing to climate change,” CEO Hal Roberts said. The use of renewable energy from the earth where people live reduces their cost of heating and cooling and preserves clean air.“
Due to significant consumer energy savings, the positive impact on utility peak load conditions and the substantial environmental benefits, a growing number of utility companies are supportive of geothermal heat pump technology and are offering rebates and other financial incentives to encourage consumer installation of GHP systems. The GEOSmart loan program is already being integrated into leading utility and state sponsored energy efficiency programs, providing homeowners with a comprehensive financing solution that makes it easy for consumers to invest in energy efficient home improvements.
“At GE, we’ve made a commitment to continue investing in and providing products and services that are eco-friendly,” said Bruce Christensen, vice president and general manager, Home Improvement industry, GE Money – Sales Finance. “We’re proud to partner with EGIA and are excited that EarthLinked Technologies has chosen to endorse the GEOSmart program.”
About EarthLinked Technologies, Inc.
Earthlinked Technologies, Inc is a leader in the development of innovations for heating and cooling. Its heat pumps are delivering energy and environmental savings in 14 countries by using the stable temperature of the earth as the heat source and heat sink. The U.S. EPA has verified energy savings of 75% by the EarthLinked® system in a commercial water heating application as compared to electric resistance water heating, with proportionate reductions in emissions.
About Electric & Gas Industries Association
The Electric & Gas Industries Association (EGIA) is a non-profit organization dedicated to advancing energy efficiency and renewable energy solutions through a nationwide network of contractors, distributors, manufacturers and utility companies. EGIA is a leading provider of resource efficiency services and energy efficiency program administration for utility companies and water agencies. EGIA also provides the home improvement industry with comprehensive consumer energy efficiency and solar financing solutions and has administered some of the nation’s largest utility and state sponsored energy efficiency financing programs. For more information, visit www.egia.org.
About GE Money
With more than $190 billion in assets, GE Money, a unit of General Electric Company (NYSE:GE), is a leading provider of credit services to consumers, retailers and auto dealers in more than 55 countries around the world. GE Money, based in Stamford, Conn., offers a range of financial products, including private label credit cards, personal loans, bank cards, auto loans and leases, mortgages, corporate travel and purchasing cards, debt consolidation and home equity loans, and credit insurance. More information can be found at www.gemoney.com. GE Money’s Sales Finance unit, based in Kettering, Ohio, provides private label credit card programs, marketing, installment lending and financial services for national and regional retailers, dealers, manufacturers and service providers in more than 20 industries including: outdoor power equipment, home improvement, sporting goods, powersports, automotive, recreational vehicles, consumer electronics and appliances, furniture, floor covering, marine, music, jewelry, and health care.
GE is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
For more information contact:
Cristy Williams, GE Money, (678) 518-2596 or cristy.williams@ge.com
Joe Parsons, EarthLinked Technologies, (863) 701-0096 or jparsons@earthlinked.com
Bruce Matulich, EGIA, (916) 480-7314 or bmatulich@egia.org
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