LAS VEGAS, Nov. 30, 2006 (PRIME NEWSWIRE) -- InRob Tech Ltd. ("InRob") (OTCBB:IRBL), today announced that it has begun development on a new command and control unit for integrated energy heating systems designed specifically for the European market.
In light of the company's progress in its previous development project, in which 100 units of its new hot water heating control unit are scheduled for installation within several weeks, InRob has decided to expand development in the field of energy conservation and management. InRob will develop a sophisticated command and control unit to track, monitor and manage heating units that combine solar, electric and gas energy to heat hot water, radiators and underfloor heating panels in an integrated system.
The new development targets the enormous European market for domestic, commercial and industrial heating systems and promises to add significant efficiencies to current energy consumption. According to a Frost & Sullivan report, the sophisticated heating control system market in Europe has much room for growth: less than 10% of the European market uses sophisticated heating systems, while less than 1% of the market uses wireless heating controls. The European Commission expects that 100,000,000 m(2) of solar collectors are to be installed in Europe by the year 2010 to facilitate durable and environment-friendly heat. The European heating industry currently contributes EUR20 billion to the European Union's GDP, according to the Association of the EHI (European Heating Industry).
"We expect to have a working prototype, specifically designed to meet the needs of the European market by the third quarter of 2007," says Ben Tsur Joseph, President of InRob Tech. "Although this is not InRob's principle market, we are very proud of our success in this field and expect it to generate considerable revenues for the company. We are constantly on the lookout for high-growth civilian markets that can benefit from InRob's accumulated technological sophistication and expertise as a developer and integrator of remote-control units. Following the successful carryover of our wealth of experience in Unmanned Ground Vehicles for military applications, to consumer products, we believe that InRob's new development will pave the way for the new generation of European heating systems."
About InRob Tech
InRob Tech is a Nevada based high-tech company with a wholly owned subsidiary in Israel, specializing in the planning, manufacturing and service support of advanced wireless and remote control systems, operating all types of robots and other vehicles. The Company is a leader in its field, and supports the IDF (Israeli Defense Forces), Israeli police, and other military and civilian companies dealing with security. Founded in 1988, the Company works closely with other high-tech companies to provide the most advanced and comprehensive UGV solutions to the market.
For more information, please visit our web site at www.inrobtech.com.
Forward-Looking Statements
Certain statements in this news release may contain 'forward-looking' information within the meaning of the Federal securities laws. All statements, other than statements of fact, included in this release may include forward-looking statements that may involve risks and uncertainties. There can be no assurance that such statements will be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances or to reflect unanticipated events or developments.