ESIV Wholly Owned Subsidiary Proceeds with the "Quest University" Project

Business Wire, Nov 1, 2006

BELLINGHAM, Wash. -- Essential Innovations Technology Corp. (OTCBB:ESIV) (FWB:E6S), provider of cutting-edge geoexchange solutions for residential, commercial and institutional applications as both a geoexchange energy service company and as a manufacturer of proprietary geothermal heat pump technology, announced today that it's wholly owned subsidiary Earth Source Energy, has been awarded the contract to provide the Geoexchange ground loop design and installation services for the Quest University Project on behalf of the Sea to Sky Foundation in Squamish, B.C. Canada. (www.questu.ca)

States Stevan Perry, V.P. and General Manager of Earth Source Energy, "We are extremely excited about the opportunity to work with both Stantec Engineering and the Sea to Sky Foundation on the Phase 1 build out of the Quest University site. We look forward to a positive and mutually beneficial long-term relationship and are honoured to have been given the chance to provide our turnkey Geoexchange solutions to the Quest University project. Following closely behind our recent Kwantlen University Geoexchange loop-field installation, this will represent the second such university project Earth Source Energy has been involved with in the last 6 months. It is now our sincere hope that these installations may be viewed as benchmarks for the application of Geoexchange in the future of University site development."

Energy Source Energy Inc., wholly owned subsidiary of ESIV, is one of North America's largest and most experienced geoexchange installation companies for commercial and residential applications with well over 700 successful Geoexchange projects to its credit.

Geoexchange technology harnesses the earth's clean, renewable thermal energy stored just below the surface or in large bodies of water for purposes of heating, cooling, domestic hot water and/or dehumidification. A Geoexchange system is used to "exchange" the earth's natural heating and cooling properties between a building and the ground. This non-combustion transfer of energy is the source of performance and environmental superiority, as Geoexchange systems need only a small amount of electrical energy to then capture, move and concentrate a large amount of free energy provided by the earth.

Essential Innovations Technology currently has operations in the USA, Canada and Hong Kong; exclusive distributors in Canada and Mexico; exclusive sales agents or sales agents in Mexico, Hungary, China and Alaska; and the Company is now actively seeking further distributors, dealers and project opportunities throughout the North American and international marketplace for its proprietary Geoexchange systems and solutions. The Company was incorporated in April 2001, and it has four wholly owned subsidiaries located in British Columbia, Canada and in Hong Kong, SAR, China.

Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Investors are cautioned that such forward-looking statements involve risks and uncertainties. These statements include, but are not limited to, statements that do not describe historical facts and statements that include the word "believes," "anticipates," "expects," "plans," "intends," "designs," "projects" or similar language, as well as statements regarding consumer or marketplace acceptance of the Company's new or existing products; comments concerning marketing and consumer acceptance of proprietary products; the potential benefits of Essential Innovations' products; initiatives undertaken by the Essential Innovations' divisions; the Company's research, manufacturing and facilities expansion programs; and the Company's growth, revenue, or projected earnings; all such statements which may or may not occur in the future. These forward-looking statements are made as of the date of this news release, and Essential Innovations Technology Corp. assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no absolute assurance that such belief, plans, expectations or intentions will prove to be completely accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our periodic reports filed from time to time with the Securities and Exchange Commission.