|
2005
NEWS
December 21, 2005
WorldWater & PowerCorp.Signs$1.145
Million Contract to ProvideSolar Power for California Embroidery
Plant
December 19,2005
WorldWater & Power Corp./Conti
Corp. Joint Venture Completes First Phase of 500 kW Solar Power
Project for Atlantic County Utilities Authority
December 15, 2005
MSNBC.Com and Fortune Small
Business Highlight Donation of WorldWater & Power Technology
to Hurricane Katrina Victims
November 29, 2005
Worldwater & Power
Corp. CEO Issues Operational Update Contract Backlog
Increases to $23 Million
November 21, 2005
Worldwater & Power
Corp. Signs $928,928 Contract to Provide Solar Power for Commercial
Building in Southern NJ
November 18, 2005
WorldWater & Power Corp.
Signs $3.1 Million Contract to Provide Solar Power for West
Pico Food
November 17, 2005
WorldWater & Power
Corp. Signs $1.2 Million Contract to Provide Solar Power for
L.A. Baking, Inc.
November 4, 2005
WorldWater & Power Corp.
Awarded Contract for the First Solar Project for DuPont
October 24, 2005
WorldWater & Power
Corp. Signs $3.2 Million Contract to Provide Solar Power for
California Mobile Home Park
October 12, 2005
WorldWater & Power
Corp. and NAI Global Join Forces to Send Mobile Critical Response
Water Unit to Mississippi
September 26, 2005
WorldWater & Power
Corp. Receives USTDA Grant for Rural Water Supply Project in
Sri Lanka
September 20, 2005
WorldWater & Power
Corp. Signs $1.4 Million in Solar Energy Contracts
September 13, 2005
WorldWater & Power Corp. Announces Acquisition
of Assets of California's Quantum Energy Group
August 31, 2005
www.China-AsiaStocks.com Reports
- Renewable Energy and Water Industries Driven by Economic Growth
and Energy Demand in China
August 2, 2005
WorldWater & Power Corp. Names James
S. Brown EVP - Chief Operating Officer
July 26, 2005
WorldWater & Power Corp. Completes $4.45
Million Financing and Recapitalization
July 14, 2005
WorldWater & Power Corp. Signs
Two More Contracts For New Residential Solar Division
-
WorldWater & Power Achieves Major Milestone
in $7.8 Million Solar Electric Project
June 22, 2005
WorldWater & Power Corp. Files
for New Patent for Maximum Power Point Speed Control
-
WorldWater & Power
Corp. Poised to Enter China Market, Signs Rep Agreement With
Xinhua Financial Network
June 20, 2005
WorldWater & Power CEO to Issue Update
on Company Milestones and Revenue Expectations for 2005
June 18, 2005
WorldWater & Power Corp. at Washington,
D.C. Energy Expo June 21
June 13, 2005
WorldWater & Power Corp. Announces
New Residential Solar Division, Signs Two Contracts for Immediate
Installation
May 20, 2005
WorldWater & Power Corp. Signs
Solar Power Contract for Architectural Model Estate
May 18, 2005
WorldWater & Power Signs $7.8 Million
Contract to Supply Solar Electric Power to Avocado Ranch
May 16, 2005
WorldWater & Power Corp. Files 1st
Quarter Results
April 29, 2005
WorldWater & Power Corp. Named
Preferred Solar Partner by California Water Association
April 13, 2005
ACWA Announces New Solar Partnership Program
April 01, 2005
WorldWater & Power Corp./Conti
Corp. Joint Venture Wins Atlantic County Utility Bid for $3.25
Million Solar Electric System
March 03, 2005
WorldWater & Power Corp. Signs $1.8
Million Contract to Supply Solar Electric Power to California
Tree Farm
February 17, 2005
Beacon Equity Research Initiates Profile
Research Coverage of WorldWater & Power with an Outperform
Rating
January 26, 2005
WorldWater & Power Corp. Announces
Breakthrough Milestones Of 2004 |
|
| WorldWater & Power
Corp. Signs $1.145 Million Contract to Provide Solar Power for
California Embroidery Plant With
New Contract, Company Announces Revenue Guidance for 2006 |
| PENNINGTON,
NJ, December
21/BUSINESS WIRE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB),
developer of proprietary high-powered solar energy systems, today
announced that it has signed a $1,145,800 contract to build and
install a solar electric power generation system for Quality Embroidery
in Los Angeles, California. The photovoltaic (PV) system will provide
electricity for the company, and is expected to substantially reduce
electrical usage costs for the facility.
With
the signing of this contract, on top of its earlier announced
2005 contract backlog of $23 million, the Company issued Revenue
Guidance for 2006, projecting Revenue of $25 million to $35
million.
For
Quality Embroidery, WorldWater & Power Corp. plans rooftop
and carport installation of the PV panels that will power the
system. Plans call for construction of the carport and installation
of the systems by GJ Electric of Los Angeles. The project will
be managed and supervised by Quantum Energy Group, the California
engineering, construction and project management firm acquired
by WorldWater & Power Corp. earlier this year. The contract
is subject to approval of financing and the utility rebate application,
following which construction is expected to begin immediately. |
|
| WorldWater & Power
Corp./Conti Corp. Joint Venture Completes First Phase of 500
kW Solar Power Project for Atlantic County Utilities Authority |
| PENNINGTON,
NJ, December
19/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB),
developer of high-horsepower solar energy systems, and its joint
venture partner, Conti Corp., have completed the first phase of
a 500 Kilowatt solar energy system for the Atlantic County (NJ)
Utilities Authority (ACUA).
A
photo accompanying this release is available at http://www.primezone.com/newsroom/prs/?pkgid=2189
Under the joint venture agreement, WorldWater & Power designed
and engineered the project and supplied all solar-related equipment
for the system at the wastewater treatment plant near Atlantic
City. Conti provided construction services and construction project
management. Completion of the remaining 223 kW of the project
is scheduled during the first quarter of 2006, according to Quentin
T. Kelly, Chairman and CEO of WorldWater & Power Corp.
The
system designed by WorldWater comprises several different arrays:
building rooftops, a large raised parking canopy, and ground
mounted structures. Collectively the arrays are expected to provide
an annual output of 660,000 kilowatt hours in clean, economical
energy.
Following
the dedication of the first phase of the solar and wind structures
this week, Richard Dovey, ACUA President, said, "We are rapidly
nearing our goals of installing and utilizing meaningful renewable
power to reduce our dependence on fossil fuels. The cooperative
efforts of Community Energy developing the wind farm, WorldWater & Power
designing and engineering the solar system and Conti Group handling
the construction, is enabling ACUA to begin this significant
move to renewable power use in 2006.'' |
|
| MSNBC.Com
and Fortune Small Business Highlight Donation of WorldWater & Power
Technology to Hurricane Katrina Victims Mobile MaxPure
Provides Clean Water to Residents of Waveland, MS |
| PENNINGTON,
NJ, December
15/PRIMEZONE/ |
The
donation and implementation of a solar powered mobile water pumping
and purification unit to residents of Waveland, Mississippi by
WorldWater & Power Corp. (OTC
BB:WWAT.OB),
and NAI Global, Inc. is featured in a story in MSNBC.com's "Rising
from Ruin,'' a series of articles focusing on towns that were impacted
by Hurricane Katrina. In addition, the donation was one of five
examples of small business contributions to hurricane relief efforts
featured by Ian Mount in the December 2005/January 2006 issue of
FSB (Fortune Small Business).
In
the MSNBC.com article posted on November 30, 2005, correspondent
Miguel Llanos reported that WorldWater & Power's Mobile
MaxPure(tm) unit is providing 10,000 gallons of potable water
a day in Buccaneer State Park in Waveland, the primary living
area for displaced residents and relief workers.
According
to the posting on MSNBC.com, the Mobile MaxPure(tm) is a solar-powered
mobile unit whose photovoltaic cells absorb rays of the sun,
which in turn, create electricity that can be used to pump water
through a purification unit and into storage tanks. A bank of
storage batteries is included in the Mobile MaxPure(tm) system
to store excess solar power for night use, and a 5 hp generator
can provide additional emergency backup power if needed. As a
result of the Mobile MaxPure(tm), clean water is now available
for residents and relief workers to use for cooking, drinking
and bathing.
The
delivery of the unit was a collaborative effort by two New Jersey
firms, WorldWater & Power and NAI Global, who shared the
cost of customizing and delivering the unit to Waveland. In addition
to its humanitarian work in Waveland, WorldWater & Power
Corp. has helped to make a difference in the lives of people
around the world by installing solar pumping and electrical systems
in Angola, East Africa, Malawi, Pakistan, Philippines, South
Africa, Sri Lanka, and Tanzania.
“When
the tragedy along the Gulf Coast unfolded, we saw an opportunity
to use our expertise in solar-powered pumping and electric power
generation to help the relief efforts. We knew that our Mobile
MaxPower(tm), which is designed to provide solar power to operate
pumps in areas where electric grid power is not available, would
be ideally suited for the situation in Waveland. With the addition
of water purification equipment, the unit now provides potable
water to residents and relief workers who had been using bottled
water for drinking, bathing, and food preparation for more than
a month,'' stated Quentin T. Kelly, chairman and CEO of WorldWater & Power.
"As a company, WorldWater & Power is grateful to be able
to lend our aid and expertise to this continuing humanitarian
crisis. We hope that our equipment pro
vides
some relief to what we can only imagine is an extremely trying
situation.''
For
access to the full MSNBC.com article and the accompanying audio
slide show, go to following link: http://risingfromruin.msnbc.com/2005/11/sunbathing_for_.html .
To view the FSB article online, visit http://www.fortune.com/fortune/smallbusiness/articles/0,15114,1132992,00.html . |
|
| WorldWater & Power
Corp. CEO Issues Operational Update Contract
Backlog Increases to $23 Million |
| PENNINGTON,
NJ, November
29/PRIMEZONE/ |
Quentin
T. Kelly, Chairman and CEO of WorldWater & Power Corp.
(OTC
BB:WWAT.OB),
today released an operational update detailing fundamental
progress that has been made by WorldWater & Power over
the past several months. In his statement, Mr. Kelly declared:
“I
am eager to share with you our progress since my last operational
update issued on June 20, 2005. In the first six months of 2005,
WorldWater & Power’s contract backlog was $12.6 million
in sales. As a result of increasing demand for our products and
services, our current contract backlog has increased to $23 million.
We anticipate adding to our current backlog through the remainder
of 2005 and look forward to strong demand for our product and
services in 2006 and beyond.
I
would like to take this time to discuss significant highlights
over the last several months:
Status
of Projects: As of June 20, WorldWater & Power signed
contracts consisting of seven projects totaling $12.6 million.
The following summarizes the status of each project:
- $1,800,000
for a California Tree Farm. Pre-engineering has been completed. Groundbreaking
is scheduled for the fourth quarter 2005.
- $3.25
million joint venture with Conti Corp. for Atlantic County
Utilities Authority (ACUA). The project is scheduled for
partial completion in the fourth quarter. Final construction
should be completed in the first quarter of 2006.
- $7.8
million solar installation for Farm ACW of Fallbrook, California.
Ground breaking is scheduled for the fourth quarter 2005.
- $309,000
for the Idyllwild Water District (IWD) in Idyllwild, California.
The project is scheduled to be completed in the fourth quarter.
- Three
residential projects totaling $400,000. All three projects
are scheduled to break ground in the fourth quarter.
Quantum
Energy Group acquisition: The Company realizes that
with strong growth comes the need for additional infrastructure.
Quantum Energy Group, an energy, construction, and project
management company acquired by WorldWater & Power in September
this year, greatly enhances our ability to efficiently manage
our growing customer base. Quantum brings extensive experience
in engineering, design and construction of more than 400 solar
projects. With this addition to our team, WorldWater expects
to make significant advances in bringing projects to completion
on a more timely basis and within budget, resulting in an overall
improvement to our gross margins. The acquisition of Quantum
Energy was our main focus in the third quarter to better position
the Company to handle the emerging implementation volume. The
integration of the two companies has been very smooth and we
are already realizing the benefits.
Sales & Marketing
- Domestic: We have made significant progress in strengthening
our sales team, both on the West and East Coasts, for commercial,
industrial and residential business opportunities. I am excited
by the significant increase of business activity as referenced
above, and I believe that with our current backlog we are now
well positioned to expand and drill deeper into these markets.
Sales & Marketing International:
Sri
Lanka: WorldWater & Power received a U.S. Trade & Development
Agency (USTDA) grant in the amount of $360,000 to support a
pilot project for water supply in Sri Lanka. The project is
designed to assess solar technology methods to provide safe,
sustainable water supplies to people in six villages near the
tsunami-ravaged southern coast of Sri Lanka. We currently have
a team in Sri Lanka working the first stage of the assessment,
and we are actively seeking the award of the full contract
of $1.1 million in 2006. In addition, we are currently pursuing
other projects there and are optimistic that our presence in
Sri Lanka will result in additional business opportunities
for the Company in the region. I believe the market for our
products and services in developing countries, which have huge
populations not tied to the electric grid, represents large
future revenue and earnings.
China: On
June 21st we signed a representative agreement with
Xinhua Financial Network to represent WorldWater in the Chinese
water and energy markets. We see China as an important and viable
future market for our proprietary solar power and water engineering.
Financing & Recapitalization: On
July 26th we announced the completion of a $4,000,000
financing with CAMOFI Master LDC, plus $450,000 received through
the exercise of warrants. Through stock conversions, we reduced
our long-term debt by $900,000 and eliminated a near-term note from
$1,000,000 to zero. We have received $3,000,000 from the CAMOFI
transaction and expect shortly to receive the remaining $1,000,000.
Mobile
MaxPure: This specially designed portable solar power
and water purification unit was sent to Waveland, Mississippi
to provide clean water for hurricane victims.
E.I.
DuPont de Nemours: Received first solar project for DuPont.
WorldWater & Power Corp. will provide solar energy for
the photovoltaic solutions technology laboratory in Wilmington,
Delaware. The system will serve as a Photovoltaic Demonstration
Unit for DuPont. General Electric Solar, a division of General
Electric, will be the supplier of the photovoltaic panels.
Revenue
Guidance: The majority of revenue we had anticipated
to be recognized in the fourth quarter will be pushed into
2006. There were several reasons for the bottleneck that we
experienced. For example, Farm ACW, our largest contract to
date ($7,800,000) experienced a very long permitting and approval
period from both state and local authorities for securing grid
interconnections. Both Idyllwild (IWD) and the ACUA installations,
where whole new solar engineering methods needed to be introduced,
experienced additional engineering designs. Both projects are
now in the completion stage and will serve as centerpieces
for the Company for the utility markets on both the West and
East Coast. These issues have been significantly improved with
the acquisition of Quantum Energy along with the reorganization
of our engineering and project management procedures.
“Let
me conclude by saying that WorldWater & Power has made great
strides this year. We are experiencing the momentum of growing
demand for our products and services, with a critical mass aiding
in the focus on gross margins of profit. We are gaining international
recognition in solar engineering and design by completing a number
of industry landmark installations. We look forward to the future
with confidence and great anticipation.”
|
|
| Worldwater & Power
Corp. Signs $928,928 Contract to Provide Solar Power for Commercial
Building in Southern NJ |
| PENNINGTON,
NJ, November
21/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of proprietary high-powered solar energy systems,
today announced that it has signed a $928,928 contract to build
and install a solar electric power system for a commercial building
in Sewell, NJ.
The
photovoltaic (PV) system will be designed to generate enough
kilowatt-hours to substantially offset the annual electricity
consumption of the building. Excess electricity generated during
the summer months will be exported to the Atlantic City Electric
Company power grid. At times when the consumption exceeds the
generation capacity of the PV system, supplemental power will
be drawn from the grid. The contract is subject to approval
of the New Jersey Board of Public Utilities Clean Energy Program
CORE rebate, following which installation is expected to begin
immediately. |
|
| WorldWater & Power
Corp. Signs $3.1 Million Contract to Provide Solar Power for
West Pico Food |
| PENNINGTON,
NJ, November
18/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of proprietary high-powered solar energy systems,
today announced that it has signed a $3.1 million contract to build
and install a solar electric power system for West Pico Food, Inc.
in Vernon, California.
The
photovoltaic (PV) system is expected to substantially reduce
electrical usage costs for the Company, a distributor of wholesale
frozen foods to supermarket chains in Southern California.
WorldWater & Power Corp. plans to construct a carport over
the parking area to hold the PV panels that will power the
system. Plans call for construction of the carport and installation
of the systems to be managed and supervised by Quantum Energy
Group, the California engineering, construction and project
management firm acquired by WorldWater & Power Corp. earlier
this year. The contract is subject to financing and approval
of the utility rebate application, following which construction
is expected to begin immediately. |
|
| WorldWater & Power
Corp. Signs $1.2 Million Contract to Provide Solar Power for
L.A. Baking, Inc. |
| PENNINGTON,
NJ, November
17/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of proprietary high-powered solar energy systems,
today announced that it has signed a $1.2 million contract to build
and install a solar electric power generation system for Los Angeles
Baking, Inc. a premium baking company located in Los Angeles, California.
L.A.
Baking has been providing high quality baked goods to hotels,
restaurants, businesses and individuals in the Southern California
area for 14 years. The photovoltaic (PV) system will provide
electricity for the company's bakery operations, and is expected
to substantially reduce operating costs for electrical usage
for the facility.
WorldWater & Power
Corp. plans to construct a carport over the parking area at the
bakery and cafe facility to hold the PV panels that will power
the system. Plans call for construction of the carport and installation
of the systems to be managed and supervised by Quantum Energy
Group, the California engineering, construction and project management
firm acquired by WorldWater & Power Corp. earlier this year.
The contract is subject to approval of the utility rebate application
for the project and securing of financing by the owner, following
which construction is expected to begin immediately. |
|
| WorldWater & Power
Corp. Awarded Contract for the First Solar Project for DuPont Company
Wins Bid to Provide PV Power for Laboratory Headquarters Facility
in Wilmington, Delaware |
| PENNINGTON,
NJ, November
4/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of proprietary high-powered solar energy systems,
today announced that it has been awarded a bid contract to build
and install the first solar electric power generation system for
DuPont (NYSE: DD). The photovoltaic (PV) system will provide solar
energy for the Photovoltaic Solutions technical laboratory in Wilmington,
Delaware. The system will serve as a Photovoltaic Demonstration
Unit for DuPont.
The
ground-mounted system will produce 40 kilowatts of AC power
using four arrays of PV panels. The system will have a touch
screen display in the foyer of the main building so that visitors
can observe the function and energy output of the system at any
time. The contract calls for the installation to be completed before
mid January 2006 and to be operational shortly thereafter.
“Photovoltaic
power is an excellent option to provide a significant portion
of our renewable energy goals,” said Tom Earnest, global
venture manager, DuPont Photovoltaic Solutions. “DuPont
materials and technologies have had a leading role in the growth
of the PV industry over the past 25 years. We will continue to
apply scientific and technological expertise to deliver an expanding
portfolio of films, resins, encapsulants and conductive inks that
are at the essence of increasingly longer lasting, and more cost
effective PV modules. We are very pleased to see the promise
of PV power delivered to our own facilities through our relationship
with WorldWater & Power.”
Quentin
T. Kelly, Chairman and CEO of WorldWater & Power, said, “We
applaud DuPont’s commitment to
sustainable growth, and we are proud to be part of their crucial
first step in using solar energy to meet their goals.”
DuPont
is a leading global supplier of films, resins for encapsulants,
encapsulant films and conductive inks for photovoltaic modules,
and this system is the first project to use PV power for the company’s
own facilities. Further information on DuPont Photovoltaic Solutions
can be found at www.dupont.com/photovoltaics . |
|
| WorldWater & Power
Corp. Signs $3.2 Million Contract to Provide Solar Power for
California Mobile Home Park |
| PENNINGTON,
NJ, October
24/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developers of proprietary high-powered solar energy
systems, today announced that it has signed a $3.2 million contract
to build and install a solar electric power system for Tri-Palms
Estates Mobile Home Park and Golf Community in Thousand Palms,
California. The photovoltaic (PV) system will provide electricity
for the clubhouse and for other electrical needs around the park.
The installation is expected to substantially reduce electrical
usage costs for the facility.
WorldWater & Power
Corp. plans to construct canopies over the parking area to
hold the PV panels that will power the system. Plans call for
construction of the canopies and installation of the systems
to be managed and supervised by Quantum Energy Group, the California
engineering, construction and project management firm acquired
by WorldWater & Power Corp. earlier this year. The contract
is subject to approval of the rebate application, following
which construction is expected to begin immediately. |
|
| WorldWater & Power
Corp. and NAI Global Join Forces to Send Mobile Critical Response
Water Unit to Mississippi Two
Local Firms Contribute Solar Water Pumping and Purification to
Aid Katrina Victims |
| PENNINGTON,
NJ, October
12/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developers of proprietary high-powered solar technology,
is sending its trailer-mounted, solar-powered electrical water
pumping and purification system to help the relief efforts for
hurricane victims in the devastated Gulf Coast area.
WorldWater & Power
Corp. and NAI Global, the international commercial real estate
service firm based in Princeton, NJ, are donating the unit
to the people of Waveland, Mississippi, one of the hardest-hit
communities by Hurricane Katrina. The two companies are sharing
the cost of the mobile critical response pumping and power
unit, Mobile MaxPure, which is capable of delivering
purified water and generating electricity for lighting and
other power requirements. As a portable “power utility”,
the unit can be moved from critical point to point and begin
delivering water and power in minutes after arrival at site.
CEO’s
Quentin T. Kelly of WorldWater & Power Corp. and Gerald C.
Finn of NAI Global received the help of many others in locating
an appropriate destination for the unit. Congressman Rush Holt
(NJ 12th District), Mercer County Executive Brian Hughes,
Dean Raymond, County Coordinator for the Mercer County Emergency
Management Assistance Compact (EMAC), Scott Sklar, solar activist
and President of The Stella Group, Ltd. in Washington, DC were
instrumental in helping to establish contact with the Governor
of Mississippi and his technical and humanitarian officials.
WorldWater & Power was then put in contact with the appropriate
emergency management personnel in the state and with the Mayor
of Waveland.
As
a result of their collective efforts, a specially modified version
of WorldWater & Power’s MobileMax Pure will leave
New Jersey early Thursday, October 13, for Waveland, where refugees
and relief workers are living in tents and trailers without clean
drinking water and where, Waveland Mayor Tommy Longo says, several
people have died in recent weeks from contaminated water.
“This
unit is a practical, ready-to-work product for critical situations
like this,” said Kelly. “and we are pleased that
Gerry Finn and NAI Global have joined us in financing the effort.”
Kelly’s
sentiments are echoed by Finn, NAI Global chairman and chief
executive officer. “As an international network of commercial
real estate firms which operate in 40 countries worldwide, our
focus has always been on how to help each local community where
our members are based.” said Finn. “When Hurricane
Katrina hit, it affected our members in the Gulf Coast region,
as well as thousands more, and we wanted to help in any way we
could. NAI Global is happy to be a partner in the donation of
the Mobile MaxPure to the people of Mississippi’s
ravaged Coast.”
WorldWater & Power’s
Mobile Max was originally designed to provide solar
power to operate pumps to
provide water for people and livestock and crop irrigation in
areas where electric grid power is not available and diesel fuel
is unavailable or expensive to purchase and transport. With the
addition of water purification equipment, the unit becomes Mobile
MaxPure, for use where potable water is unavailable.
The
specially designed unit being sent to Waveland includes solar
collection panels, electronic inverters that change
direct current (DC) produced by solar power to alternating current
(AC) to operate pumps and other equipment, a 1.5 hp pump, and
a four-stage purification unit to remove harmful contaminants,
bacteria and viruses from the water. A bank of storage batteries
is included to store excess solar power for night use, and a
5 hp generator can provide additional emergency back-up power
if needed. With as little as five hours of daily sun exposure,
the Mobile MaxPure can draw surface water from lakes, streams,
canals, ponds, rivers, wells, or other sources, and can provide
up to 15,000 gallons of potable water a day.
About
WorldWater & Power Corp.
WorldWater & Power Corp. is a full-service, international solar
engineering and water management company with unique, high-powered
and patented solar technology that provides solutions to a broad
spectrum of the world's water supply and energy problems.
About
NAI Global
NAI Global is an international commercial real estate network with
over 300 offices spanning the globe. Since 1978, its clients have
built their businesses on the power of our expanding network. NAI
Global’s extensive services include multi-site acquisitions
and dispositions, sublease, tenant representation, lease administration
and audit, investment services, due diligence and related consulting
and advisory services. To learn more, visit www.naiglobal.com. |
|
| WorldWater & Power
Corp. Receives USTDA Grant for Rural Water Supply Project in
Sri Lanka Solar
Powered Pumping Part of Tsunami Reconstruction |
| PENNINGTON,
NJ, September
26/PRIMEZONE/ |
The
U.S. Trade and Development Agency (USTDA) has awarded $360,000
in grant funds to WorldWater & Power Corp. (OTC
BB:WWAT.OB -
News), to support a pilot project for water supply in Sri Lanka.
The project is designed to assess solar technology methods to provide
safe, sustainable water supplies to people in six villages near
the tsunami-ravaged southern coast of Sri Lanka.
Subject
to satisfactory results of WorldWater & Power Corp.'s ground
water assessment study, WorldWater & Power anticipates
the award of the full contract of $1.1 million with the Ministry
of Urban Development and Water Supply to pump and deliver water
to 13,677 people in approximately 3,000 households in the six
villages through use of its AquaMax(tm) solar water pumping
systems.
Signatories
to the WorldWater & Power grant included U.S. Ambassador
to Sri Lanka Jeffrey J. Lunstead, and Dr. P.B. Jayasundera, Secretary
for the Ministry of Finance and Planning of the Government of
Sri Lanka. The USTDA funding is one of several grants that will
help support the efforts of the Government of Sri Lanka to rebuild
and improve infrastructure in districts affected by the tsunami
in December 2004.
The
Honorable W. Piyasena, National Project Director of the Community
Water Supply and Sanitation Project, and the Rural Water Supply
and Sanitation Division of the Ministry of Urban Development
and Water Supply, said, “There is a need to identify alternative
energy sources for pumping water in remote rural areas. Even
in areas where electricity is available, delays in getting electricity
connections and the high costs of such connections have resulted
in problems. Diesel driven pumps are found to be unsatisfactory
in rural areas due to frequent repair and maintenance requirements
and also due to high fuel costs.” The Ministry specifically
requested that WorldWater & Power Corp. conduct the technical
assistance for the project.
Ms.
Marian Bassett of the U.S. Trade Development Agency stated, “We
are pleased to provide this assistance to the Government of Sri
Lanka, and we hope that this grant will catalyze large scale
adoption of these environmentally friendly, clean technologies
to make a difference in the quality of life of the rural people
of Sri Lanka.”
Dr.
Anand Rangarajan, Executive Vice President of WorldWater and
Power Corp., said, “This pilot project is intended to demonstrate
how public and private sector partnerships could be forged to
bring private sector investments to the critical area of rural
water supply. This project will also demonstrate how commercially
mature solar technologies can provide faster and less expensive
solutions in the area of water supply compared to traditional
piped schemes.”
Forward
Looking Statement
Except for historical information contained herein, this document
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve
known and unknown risks and uncertainties that may cause the Company's
actual results or outcomes to be materially different from those
anticipated and discussed herein. Further, the Company operates
in industries where securities values may be volatile and may be
influenced by regulatory and other factors beyond the Company's
control. Other important factors that the Company believes might
cause such differences are discussed in the risk factors detailed
in the Company's 10-KSB and its quarterly reports on Form 10-QSB
both as filed with the Securities and Exchange Commission, which
include the Company's cash flow difficulties, dependence on significant
customers, and rapid development of technology, among other risks.
In assessing forward-looking statements contained herein, readers
are urged to carefully read all cautionary statements contained
in the Company's filings with the Securities and Exchange Commission. |
|
| WorldWater & Power
Corp. Signs $1.4 Million in Solar Energy Contracts Two
California Car Washes to Add Solar Power Technology |
| PENNINGTON,
NJ, September
20/PRNewswire-FirstCall/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of proprietary high-powered solar energy systems,
today announced that it has signed contracts totaling $1.4 million
to build and install solar electric power systems for two car washes
in the Los Angeles area. Car washes represent a new industry for
the use of solar technology for WorldWater & Power Corp. The
photovoltaic (PV) systems are expected to substantially reduce
electrical usage costs for the two facilities.
The
contracts with the car wash chain are conditional upon third
party financing. Once the financing is realized, construction
is expected to begin immediately and will be managed by Quantum
Energy Group, the California engineering, construction and
project management firm acquired by WorldWater & Power
Corp. earlier this month. Quantum Energy Group will supervise
the installation of the solar power systems, as well as the
construction of canopies to hold the PV panels.
"The
car washes on which the WorldWater & Power solar energy systems
will be installed average between 5,200 and 5,300 car washes
per month. Electricity costs for each of the car washes typically
run between $3,000 and $4,000 per month, depending on the site
and the month of the year," stated Quentin T. Kelly, Chairman
and CEO of WorldWater & Power Corp. "In addition to
realizing energy cost savings, the owners will obtain Federal
and State tax credits (ITCs) and accelerated depreciation. The
current Federal ITC of 10% increases to 30% January 1, 2006."
WorldWater & Power
Corp. anticipates the rebates from Southern California Gas Company
for the solar installations will be realized during the fourth
quarter of 2005 and the first quarter of 2006. |
|
| WorldWater & Power
Corp. Announces Acquisition of Assets of California's Quantum
Energy Group |
| PENNINGTON,
NJ, September
13/PRNewswire-FirstCall/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of proprietary high-power solar systems, today
announced the acquisition of MJD Solutions, Inc., d/b/a Quantum
Energy Group, to assist with the design and construction of WorldWater & Power
Corp. projects.
Quantum
Energy Group, an energy, construction, and project management
company based in Applegate, California, has completed more
than 400 residential, commercial and institutional installations.
They have been licensed contractors in the State of California
since 1984, and as MJD Solar, began marketing and installing
photovoltaic systems in California in 2001. With a background
in engineering, design and construction, they have grown rapidly
in California and have come to be recognized as a leader in
photovoltaic design and installation.
The
stock purchase of Quantum adds an important expansion of design
and delivery capability to WorldWater & Power Corp.'s portfolio
of solar electric and water management projects. WorldWater & Power
will be assuming Quantum Energy Group's backlog of business in
California, as well as its pipeline of new business opportunities.
"WorldWater & Power
Corp. enables us to expand our capabilities and strengthen our
combined business throughout the U.S., including New Jersey" said
Matthew Nelson, CEO & President of Quantum Energy Group.
About
WorldWater & Power Corp:
WorldWater & Power Corp. is a full-service, international
solar electric engineering and water management company with unique,
high-powered and patented solar technology that provides solutions
to a broad spectrum of the world's electricity and water supply problems.
Information about Quantum Energy Group, a Nevada corporation, is
available at www.quantumenergygroup.com . |
|
| Renewable
Energy and Water Industries Driven by Economic Growth and Energy
Demand in China |
| POINT
ROBERTS, Wash.--(BUSINESS WIRE)--Aug. 31, 2005 |
www.China-AsiaStocks.com (CAS)
an investor and industry news portal for the China-Asia sector
reports on the growth opportunities in China, driving the need
for renewable energy and water technologies. Industry experts William
Brennan, Managing Director & Senior Portfolio Manager, Boenning & Scattergood;
International Economist Dr. James Dorian, and Clint Wilder, Contributing
Editor of Clean Edge Inc., evaluate China's expansion and the nation's
challenges that have led to significant growth across energy and
water related industries. Companies working to take advantage of
China's surge include Kyocera Corp. (NYSE:KYO - News), and XSUNX,
Inc. (OTCBB:XSNX - News) in the renewables arena, and WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), focused on both water and renewable energy needs.
Report
Excerpt: The China-Asia Boom -Turning Growing Pains into Worldwide
Opportunity By
Ann-Marie Fleming, www.China-AsiaStocks.com, www.RenewableEnergyStocks.com, www.Water-Stocks.com
August
2005
China's
emergence as a global and economic force has opened up immense
opportunities across a variety of industries as its population
and consumption rates continue to surge. Many argue that the
key to China's growth stems from its demand for energy. With
a GDP figure that has quadrupled in the last 20 years, energy
consumption rates have nearly doubled according to Deloitte & Touche,
China Services Group.
With
the rising Chinese consumption rates, economic growth and ongoing
challenges faced in the quest for increased resources, opportunities
have arisen for many industries, in particular renewable energy
and water. As the nation balances the needs of the country with
protection of its environment, the Chinese government has had
to make significant adjustments and with these adjustments come
new growth opportunities for renewable energy and water technologies.
To
Read the Full Report Click Here:
www.China-AsiaStocks.com/Companies/China-AsiaStocks/Articles/
China_Growth.htm |
|
| WorldWater & Power
Corp. Names James S. Brown EVP - Chief Operating Officer |
| PENNINGTON,
NJ, August
2/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of proprietary high-powered solar energy systems,
announces that James S. Brown, Vice President - Chief Financial
Officer, has been promoted to Executive Vice President and Chief
Operating Officer, effective immediately. He will continue to maintain
his CFO position and responsibilities, and will report to Quentin
T. Kelly, Chairman and CEO.
The
announcement coincides with the recent closing of the $4.45
million financing and recapitalization of the Company, which
was announced last week. Mr. Brown, who joined WorldWater & Power
Corp. as CFO in May 2004, has extensive operational as well
as financial experience in the energy industry. He was Director
of Structured Finance, Americas, for Entergy Wholesale Operations
in Houston, Texas; Project Finance Director for El Paso Energy
International, Houston; and VP-Finance for Westmoreland Energy,
Charlottesville, VA. He also held executive positions with
AMVEST Corp., Charlottesville, and earlier, was a senior accountant
for Deloitte, Haskins & Sells (Deloitte & Touche),
where he obtained his CPA.
A graduate
in Business Administration from Georgetown University, Mr. Brown
earned an MBA from Texas A&M University.
"Jim
Brown has shown a wealth of management experience during this
recent period of strong growth in our company,'' said Mr. Kelly.
"His understanding of operations and organization in addition
to finance make him an even greater asset in his new dual role
of COO and CFO.''
WorldWater & Power
Corp. is a full-service, international solar electric engineering
and water management company with unique, high-powered and patented
solar technology that provides solutions to a broad spectrum
of the world's electricity and water supply problems. For more
information about the Company, visit the website at http://www.worldwater.com. |
|
| WorldWater & Power
Corp. Completes $4.45 Million Financing and Recapitalization |
| PENNINGTON,
NJ, July
26/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer of high-horsepower solar energy systems, announces
the completion on July 22 of a $4,000,000 financing agreement with
the hedge fund CAMOFI Master LDC, an affiliate of Centrecourt Asset
Management, LLC, a New York based asset management firm. In addition
to the private placement, the recapitalization includes $450,000
in exercised warrants, and reduction of long-term debt by $900,000
through stock conversions.
The
financing consists of $3 million of 10% senior secured convertible
notes due 2008 and 4,259,260 shares of common stock for a purchase
price of $1.02 million.
Upon
the closing of this private placement, WorldWater & Power
Corp. received the purchase price for the shares of common stock
and $1 million of the purchase price of the convertible notes.
The $2 million balance of the purchase price of the convertible
notes will be held in escrow by a commercial bank pending the
satisfaction of the following conditions: $1,000,000 will be
paid to WorldWater & Power Corp. from the escrow when the
Company's common stock is trading at or above $0.40 per share
and trading volume exceeds 500,000 shares for a period of 10
consecutive days, and $1,000,000 will be paid upon the execution
of new contracts for WorldWater & Power Corp.'s products
and services in the aggregate amount of $5,000,000. The convertible
notes bear interest at the annual rate of 10%, payable monthly
in arrears, and are due and payable July 21, 2008. The notes
are convertible into WorldWater & Power Corp. common stock
at a price of $0.18 per share.
The
proceeds of this financing and recapitalization strengthen the
Company's balance sheet and will help fund the Company's current
project implementations, anticipated sales growth, working capital
and intellectual property development.
Of
the $450,000 raised through the exercise of warrants held by
current Company shareholders, $400,000 has been used to reduce
its outstanding line of credit from $1 million to $0.6 million.
The conversion to common stock of $900,000 of outstanding convertible
debt reduced the Company's long-term debt.
"We
are delighted to be working with CAMOFI Master LDC. Their team
of seasoned Wall Street and international investment veterans
will help us as we grow in the future," said Quentin T.
Kelly, Chairman and CEO of WorldWater & Power Corp. "In
addition to strengthening our working capital and operations
base, these funds will enable us to expedite the nine current
projects in our backlog." |
|
| WorldWater & Power
Corp. Signs Two More Contracts For New Residential Solar Division |
| PENNINGTON,
NJ, July
14/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), developer and marketer of proprietary high-power solar systems,
today announced the signing of two new contracts for its recently
formed Residential Solar Sales Division. The new Residential Solar
Sales Division adds to the Company's established business in large
solar system installations for industrial, agricultural and utility
operations.
The
two new contracts for the new division are for solar electric
generation and distribution systems on two private homes in
New Jersey, one in Bridgewater Township in Somerset County
and the other in Sea Isle City in Cape May County.
The
total cost for the two installations is just under $100,000,
of which more than 65 percent of the cost will be refunded to
the owners by the New Jersey Clean Energy Program, according
to Quentin T. Kelly, Chairman and CEO of WorldWater & Power
Corp. The Clean Energy Program administers the Customer On-Site
Renewable Energy (CORE) rebate program. New Jersey has one of
the highest, most active rebate programs for residential and
commercial purchasers of solar electric systems in the nation.
The
installation on the Somerset County residence will utilize photovoltaic
(PV) panels in a fixed roof-mounted array with a total output
of approximately 6.3 kilowatts (kW). The system is designed to
generate an average of 8,549 kilowatt-hours (kWh) annually and
is expected to meet virtually all of the current electric usage
charges for the residence.
The
Cape May County system will use two fixed roof-mounted arrays
with a total output of approximately 5 kW. The system is designed
to generate an average of 6,770 kWh annually, estimated to cover
virtually all of the of the residence's current electric usage
charges. "Solar is ideal for use in both seasonal and nonseasonal
shore properties,'' says Gerry Clauss, owner and manager of the
property. "We are excited to be part of the evolution of this
new clean energy technology.''
"We
have had excellent response to the announcements of our entry
into the residential solar energy market,'' said Mr. Kelly. "New
Jersey homeowners are beginning to realize the extent to which
the generous rebates in this state make the systems affordable,
and the substantial energy savings help the systems essentially
pay for themselves. With rising utility rates, switching to renewable
energy makes a great deal of sense.'' The New Jersey Residential
Sales Group is headed by Cassandra Kling, Director of Business
Development for the Eastern U.S.
WorldWater & Power
has two other residential projects in pre-engineering stages
in Mercer County, New Jersey, and has begun work on the installation
of a solar electric generation and distribution system for a
prestigious architectural model residence in Southern California. |
|
| WorldWater & Power
Corp. Achieves Major Milestone in $7.8 Million Solar Electric Project Electric
Grid Interconnection at California Avocado Ranch |
| PENNINGTON,
NJ, July
14/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), maker of proprietary high-power solar systems, today announced
that grid reconnection with San Diego Gas & Electric has been
secured by Farm ACW of Fallbrook, California for its $7.8 million
solar electric project.
The
interconnection with the grid, a major condition to commencement
of the project, is suitable to provide for the one megawatt
photovoltaic system to help power the ranch operations. Construction
of the solar energy system will begin immediately following
financing arrangements by the owner, expected to be finalized
this month. It is anticipated that the project will be completed
before the end of this year.
"We
believe Farm ACW will be the largest farm operation to be powered
by solar systems anywhere in the world, replacing a Megawatt
diesel generator now being used for power,'' said Quentin T.
Kelly, Chairman and CEO of WorldWater & Power Corp.
WorldWater & Power
currently has nine projects in engineering or pre-construction
stages or under construction in California and New Jersey, including
two water utilities (Atlantic County Utilities Authority in New
Jersey and Idyllwild Water District in California), two California
agricultural projects (Cocopah Tree Farm and Farm ACW), and several
residential projects (in Rancho Santa Fe, California and in Mercer
County, New Jersey. The total of projects signed in 2005 is $12.6
million, compared to total revenues of $5.8 million in 2004.
Forward
Looking Statement
Except for historical information contained herein, this document
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve
known and unknown risks and uncertainties that may cause the Company's
actual results or outcomes to be materially different from those
anticipated and discussed herein. Further, the Company operates
in industries where securities values may be volatile and may be
influenced by regulatory and other factors beyond the Company's
control. Other important factors that the Company believes might
cause such differences are discussed in the risk factors detailed
in the Company's 10-KSB and its quarterly reports on Form 10-QSB
both as filed with the Securities and Exchange Commission, which
include the Company's cash flow difficulties, dependence on significant
customers, and rapid development of technology, among other risks.
In assessing forward-looking statements contained herein, readers
are urged to carefully read all cautionary statements contained
in the Company's filings with the Securities and Exchange Commission. |
|
| WorldWater & Power
Corp. Files for New Patent for Maximum Power Point Speed Control Controls
Motor Speed as a Function of Available DC Source Power for Optimum
Performance |
| PENNINGTON,
NJ, June
22/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), maker of high-horsepower solar energy systems, today filed
an application with the U.S. Patent and Trademark Office for a
Maximum Power Point Speed Control, a method and apparatus that
performs maximum power tracking of motor speed. The present invention
relates generally to the operation of AC motors or similar loads
with AC motor drives that convert power from a DC source (such
as sun power) to AC, and more particularly to operation of the
motor at maximum power as the power from the DC source varies.
A
particular application is to solar powered systems and water
pumps. A solar powered water pumping system typically has three
primary components: the solar array, made of photovoltaic (PV)
modules; a converter (inverter or motor drive) which converts
the DC from the PV array to AC; and an AC motor (pump). The
motor typically runs at a particular frequency (speed), e.g.
60 Hz. The converter will usually be set to provide AC power
at that particular frequency. The motor will run at a speed
equal to the AC frequency. The WorldWater & Power development
replaces hardware with software enabling the motor to change
speed in order to operate optimally with the available power
from the sun. |
|
| WorldWater & Power
Corp. Poised to Enter China Market, Signs Rep Agreement With Xinhua
Financial Network Financial
Firm to Introduce Company's Solar Systems Into China's Water and
Power Markets |
| PENNINGTON,
NJ, June
22/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), maker of high-horsepower solar energy systems, has been
making preparations for introducing its solar powered systems to
the expansive China market. In late May, WorldWater & Power
exhibited at the Second China International Renewable Energy Equipment & Technology
Exhibition and Conference and the China Beijing International High-tech
Expo (CHITEC) in Beijing, making contact with several hundred visitors
from Korea, Mongolia, and throughout China. The Company has now
announced the signing of an Agreement with Xinhua Financial Network
Limited (XFN), China's premier financial services and media company,
to represent WorldWater & Power in the Chinese water and energy
markets.
ADVERTISEMENTXinhua
will introduce WorldWater & Power to federal and provincial
governmental and private sector buyers for the sale of the
Company's AquaMax(tm) high volume water pumping systems and
other solar products, it was announced jointly by Quentin T.
Kelly, WorldWater & Power Corp.'s Chairman and CEO, and
Gordon Lau, Xinhua's Chief Financial officer.
Douglas
L. Washington, Vice President, Marketing and International Operations
for WorldWater & Power, met with a number of Xinhua directors
and with representatives of Xinhua PR Newswire to evaluate and
establish strategy for WorldWater & Power Corp.'s entry into
China.
China
has 1.3 billion people and one of the largest and most rapidly
growing economies in the world. The result is that 50 coal-fired
plants are under construction and an estimated 600 are planned
for the next 6 to 8 years in an attempt to meet energy requirements.
In spite of these efforts, the country is plagued with blackouts.
As
a result of deteriorating air quality, the National People's
Congress Standing Committee passed a Renewable Energy Law, effective
January 1, 2006, requiring that 10 percent of China's electricity
must be generated from renewable energy sources by 2020. Several
provinces are investigating the use of solar systems, and appear
to be moving forward ahead of government regulations.
About
Xinhua
Xinhua
is the only private company in China to provide financial information,
media and analytical data for the China market. Headquartered
in Hong Kong, Xinhua has offices in Beijing, Shanghai and some
21 offices and 19 bureaus worldwide. It is listed on the Tokyo
Mothers Stock Exchange. |
|
| WorldWater & Power
CEO to Issue Update on Company Milestones and Revenue Expectations
for 2005 |
| PENNINGTON,
NJ, June
20/PRIMEZONE/ |
The
CEO of WorldWater and Power Corp., Quentin T. Kelly, issued an
update of the Company's progress at its Annual Shareholder Meeting
June 22. In the report presented at the meeting at Hopewell Valley
Golf Club, he outlined the Company's course in establishing itself
as a leader in the market for high horsepower solar systems and
large solar net metering projects, declaring that "WorldWater & Power
Corp. is on its way to its fourth consecutive year of strong revenue
growth.''
Year..........................Revenue.................Backlog
2001..........................$241,000
2002..........................$644,000
2003.......................$1,280,000
2004.......................$5,837,000
2005 (6 months).....................................$12,600,000
"In the first six months of 2005, WorldWater & Power has
a contract backlog of $12.6 million in sales scheduled for completion
this year, representing a 110 percent increase over 2004,'' Mr.
Kelly continues. "This impressive and continuous growth in annual
revenues and contract backlog reflects the increasing demand
for our products and services in the energy marketplace and is
a testimony to the hard work and dedication of our employees.''
Other
highlights of the report: Technology:
WorldWater & Power has continued to expand and strengthen
its intellectual property portfolio, and believes it has valuable
proprietary technology in important niches of the alternative
energy market. In the past four years, the Company has obtained
patents and continuations-in-part for its newly developed electronics
systems and filed for protections of its patents in the Philippines.
The Company currently has six patents approved, pending, or
in process.
Markets Since
2002, when WorldWater & Power Corp. launched its AquaMax(tm)
product line representing the world's most powerful solar pumping
systems, the Company has become a recognized energy provider
to three high priority markets - agriculture/irrigation, food
processing, and water utilities.
Agriculture/Irrigation WorldWater & Power
has installed America's two largest solar powered irrigation
pumping systems - a 200 hp system at Seley Ranch and a 50 hp
system at Locke Ranch, both in California. The system at Locke
Ranch has been operating successfully for more than 2 1/2 years,
and has kept the irrigation system pumping through electrical
blackouts, and the customer has gone on record recommending the
Company's products. The Seley system has been running successfully
for seven months, and the owner has allowed the Company to use
his ranch as a showcase to demonstrate the system to other potential
customers, and has entered into a marketing representation relationship
to expand into the dairy industry.
Food
Processing WorldWater & Power has installed
the largest solar powered hydrocooling system on a farm in
California, a 350 hp compressor pump used to cool potatoes
during processing. The owner reports that the system has effectively
eliminated electricity costs for his operation.
Water
Utilities - WorldWater and Power is currently working on
its first two solar installations for municipal water utilities,
for the Idyllwild Water District in California and for the
Atlantic County Utilities Authority (Atlantic City) wastewater
treatment plant in New Jersey. In April, the Company was selected
for special attention by the Association of California Water
Agencies (ACWA), the largest such association in the country,
representing 447 California water utilities. WorldWater & Power
Corp. is one of only two companies chosen as Preferred Solar
Partners recommended to ACWA's members. California represents
a large market for WorldWater & Power Corp.'s products
and services, and the Company is working aggressively to follow
up on ACWA's endorsement and the many leads it has already
generated.
General
Solar Energy Market - In addition to niche markets that
utilize the Company's expertise in high horsepower solar systems
and water management, WorldWater & Power Corp. has also
established itself as a leader in large commercial solar installations
providing electricity to the grid. Last year, WorldWater & Power
Corp. implemented the largest solar installation on a community
college campus. The 1,132,200 KW systems at Cerro Coso Community
College in California provides 60 percent of the college's
energy and, according to the college, is saving more than $300,000
per year in electric bills. The Company will continue to pursue
aggressively this rapidly growing market, and believes that
its proprietary technologies can offer high horsepower capability
and seamless switching technology for emergency backup systems
that competitors cannot duplicate.
The
Company also has several contracts for residential solar energy
projects in New Jersey and in California, and last week announced
the creation of a new Residential Sales Division to take advantage
of the large residential rebate incentives in New Jersey and
the Million Solar Roofs Bill now awaiting action by the California
State Assembly.
Overseas
Markets - WorldWater & Power believes that the market
for their products and services in developing countries, which
have large populations not tied to the electric grid, represents
revenue potential as large as or larger than even the burgeoning
domestic market. Because of the financial constraints in developing
countries, this market has taken longer to develop. The Company
has made important progress in several regions that it believes
will in the long run be significant markets. WorldWater & Power
has established strategic partnerships with large companies
in China, India and Iraq, and is working on securing financing
for water and electric infrastructure projects in Sri Lanka,
Somalia, and the Philippines. While efforts in overseas markets
will continue, largely through strategic partnerships, the
Company has made the domestic market its clear priority and
the majority of the Company's resources are allocated to the
domestic U.S. market.
Worldwide
Solar and Water Needs - The need for and cost of water
worldwide are growing rapidly. Based on estimates by the United
Nations Development Programme and the World Bank, $8 billion
annually is currently being spent to provide safe drinking
water in developing countries, and the cost of bringing clean
water to the two billion people who are without access to safe
drinking water will be approximately $50 per person, or $100
billion total, over the next five years. Governments may be
forced to re-allocate their funding resources to address what
the World Bank says will be a major problem of the 21st century
- water shortages.
The
challenge of how to bring safe drinking water and electricity
to rural households in need is one focus of WorldWater & Power
Corp.'s proprietary solar technology. Solar energy supplies more
energy in one hour than the world uses in one year, so it is
an abundant resource well suited to the dispersed communities
off the electrical grid, without the negative pollution attributes
of fossil fuels. WorldWater & Power Corp. is well positioned
to service this growing demand for sustainable potable water
supplies using efficient, cost effective, non-polluting technology.
WorldWater & Power
continues to believe that the solar energy market, particularly
as it applies to large industrial electricity and water projects,
presents an enormous market opportunity and that the Company
is uniquely positioned to succeed in this market. The photovoltaic
(PV) industry has more than doubled in the past few years, and
by 2020, worldwide annual PV direct sales are estimated to be
$27 billion and related sales are estimated to be more than $50
billion per year, as stated by the U.S. National Renewable Energy
Laboratory report, "Photovoltaic: Energy for the New Millennium,''
January 1, 2000. Advances in PV technology and corresponding
reduction in costs, in addition to enhanced state and federal
rebate programs, continue to fuel the increasing demand for PV
power. Great potential for PV technology also lies in developing
countries, where two billion people lack electricity and sufficient
clean water access. Applications range from remote pumping, irrigation,
telecommunications and lighting to complete community power systems.
The
task of bringing new technologies to large industrial markets
is not an easy one. First, many bright people must persevere
for years in order to develop these innovations to the point
where they can be commercialized; WorldWater & Power Corp.'s
team of researchers and engineers has done this. Second, it must
be demonstrated to a skeptical market that the technology functions
well and reliably, and that the economics are viable; WorldWater & Power
Corp. has done this as well by installing industry landmark systems
and keeping customers satisfied. Only after accomplishing both
of these can a company achieve broad market acceptance and concurrent
rapid sales growth with increased margins. WorldWater & Power
believes that, thanks to the hard work of dedicated staff and
to the support of their shareholders, they are at this stage
now.
Forward
Looking Statement
Except for historical information contained herein, this document
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements involve
known and unknown risks and uncertainties that may cause the Company's
actual results or outcomes to be materially different from those
anticipated and discussed herein. Further, the Company operates
in industries where securities values may be volatile and may be
influenced by regulatory and other factors beyond the Company's
control. Other important factors that the Company believes might
cause such differences are discussed in the risk factors detailed
in the Company's 10-KSB and its quarterly reports on Form 10-QSB
both as filed with the Securities and Exchange Commission, which
include the Company's cash flow difficulties, dependence on significant
customers, and rapid development of technology, among other risks.
In assessing forward-looking statements contained herein, readers
are urged to carefully read all cautionary statements contained
in the Company's filings with the Securities and Exchange Commission. |
|
| WorldWater & Power
Corp. at Washington, D.C. Energy Expo June 21 |
| PENNINGTON,
NJ, June
18/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), a full service provider of solar energy solutions, will
be an exhibitor at the 8th Annual Congressional Renewable Energy
and Energy Efficiency EXPO + Forum in Washington, D.C. on Tuesday,
June 21. The EXPO will be held in the Cannon Caucus Room (Room
345) of the U.S. House of Representatives from 10:30 a.m. to 5
p.m. The EXPO + Forum is free and open to the public. Free Haagen
Dazs ice cream will be available to all attendees.
The
EXPO is co-sponsored by the members of the Sustainable Energy
Coalition and the House and Senate Renewable Energy and Energy
Efficiency Caucuses. Previous EXPOs have drawn as many as 2,500
visitors, including Members of Congress, congressional staff,
Executive Branch officials, members of the media, and interested
members of the general public.
This
year's EXPO will bring together more than three dozen companies
from across the U.S. representing more than two dozen renewable
energy and energy efficiency technologies. WorldWater & Power
and other exhibitors will demonstrate the status and potential
of sustainable energy technologies to create domestic industries
and jobs, reduce reliance on energy imports, improve national
and homeland security, and alleviate an array of environmental
problems including toxic wastes, air and water pollution, and
greenhouse gas emissions.
In
conjunction with the Renewable Energy EXPO, a Forum will be held
in the Veterans Affairs Committee hearing room (Room 340). In
the morning, two panels of speakers will address the role of
energy efficiency and renewable energy in addressing national
security and discuss whether the energy bill is fair to renewable
energy and energy efficiency. In the afternoon, a series of films
and speakers will review the function and practical applications
of renewable energy and energy efficiency technologies. |
|
| WorldWater & Power
Corp. Announces New Residential Solar Division, Signs Two Contracts
for Immediate Installation Residential
Work on Both Coasts Adds to Portfolio of Large Agricultural and
Utility Projects |
| PENNINGTON,
NJ, June
13/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), maker of proprietary high-power solar systems, today announced
the creation of a new residential solar sales division to add to
its industrial, agricultural and utility operations. The new division
will concentrate initially on New Jersey and California, whose
Million Solar Roofs Initiative, promoted by Governor Arnold Schwarzenegger,
was approved by the California State Senate earlier this month.
The
first two contracts signed in New Jersey for the new division
are solar electric generation and distribution systems on two
private homes in Mercer County, one in Lawrence Township and
the other in Princeton Township. The total cost for the two
installations is about $114,000, of which between 65 and 70
percent of the cost will be refunded to the owners by the New
Jersey Clean Energy Program, according to Quentin T. Kelly,
Chairman and CEO of WorldWater & Power. The Clean Energy
Program administers the Customer On-Site Renewable Energy (CORE)
rebate program. New Jersey has one of the highest, most active
rebate programs for residential and commercial purchasers of
solar electric systems in the nation.
The
installation on the Lawrence Township residence of Al and Lisa
Eversen will utilize photovoltaic (PV) panels in two fixed roof-mounted
arrays with a total output of approximately 8 kilowatts (kW).
The system is designed to generate an average of 10,519 kilowatt-hours
(kWh) annually and is expected to meet 99% of the current electric
usage charges for the residence. It is anticipated that Mr. Eversen,
owner of Eversen Contracting, will also subcontract with WorldWater & Power
to install other residential and commercial systems in Central
New Jersey.
The
Princeton Township system will also use fixed roof-mounted arrays,
with a total output of approximately 6 kW. The system is designed
to generate an average of 7,890 kWh annually, estimated to eliminate
85% of the residence's current electric usage charges.
"I
believe these two projects represent the tip of the iceberg in
consumer interest in solar installations to provide energy for
residential use,'' said Mr. Kelly. "The generous rebates available
to New Jersey homeowners make the systems affordable, and the
substantial energy savings help the systems essentially pay for
themselves.'' A statewide network of sales representatives is
planned to service the New Jersey Residential Sales Group, to
be headed by Cassandra Kling, Director of Business Development
for the Eastern U.S.
In
California, WorldWater & Power announced less than a month
ago the signing of a contract to install a solar electric generation
and distribution system in a prestigious architectural model
residence in Southern California. The bi-coastal residential
work is in addition to four other projects currently in pre-construction
or under construction by WorldWater & Power Corp.: two water
utilities -- the Atlantic County Utilities Authority in New Jersey
and the Idyllwild Water District in California; and two agricultural
projects -- a tree farm and an avocado ranch, both in California.
The latest two most recent contracts bring the total backlog
of projects in 2005 to some $12.6 million, compared to total
revenues of $5.8 million in all of 2004, Mr. Kelly said. |
|
| WorldWater & Power
Corp. Signs Solar Power Contract for Architectural Model Estate $280,000
Contract is Entry into Prestigious Residential Design Market |
| PENNINGTON,
NJ, May
20/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), maker of proprietary high-power solar systems, today announced
the signing of a contract for $280,000 to install a solar electric
generation and distribution system in a prestigious architectural
model residence in Southern California.
The solar design has been approved by the Rancho Santa Fe Art
Jury, a local committee charged with maintaining stringent standards
for the aesthetics of any renovations or new construction in the
community. Construction is scheduled to begin in July. The solar
system was designed in coordination with the owner and the award-winning
architecture firm, Ronchetti Design of Rancho Santa Fe, to supply
all the electric energy requirements of the property. WorldWater & Power
will operate as a subcontractor to the general contractor in charge
of the renovation.
“The project represents entry into the high-end residential
market in the initial stage of the architectural design process,” said
Quentin T. Kelly, Chairman and CEO of WorldWater & Power. “We
couldn’t be more pleased to have our technology used in a
design by a world-renowned architect like Ken Ronchetti.”
“Design seeks to unify an owner’s vision and lifestyle
with the environment. Solar power is a natural fit. WorldWater & Power
Corp.’s work with us on energy balances and solar production
in the early stages were key to this part of the project,” noted
architect Ken Ronchetti.
“This project represents a strong foothold for WorldWater & Power
in the growing market for residential and small commercial solar
electric systems in California,” noted Larry Slominski, Regional
Manager for WorldWater & Power. “The California legislature
is working hard to pass a multi-year Million Solar Roofs Initiative
(Senate Bill 1, 2/28/2005), which has a goal of achieving 3000
megawatts of installed solar electric systems over ten years to
reduce energy outages and improve air quality standards throughout
the state. We compliment the owner, architect and builder for their
choice to use solar.”
This is
the second project awarded to WorldWater & Power this week. On
May 18, the Company announced the signing of a $7.8 million contract
to install solar electric power at Farm ACW, an avocado ranch in
California. With this newest contract, WorldWater & Power Corp.
will now have five projects in pre-construction or under construction: two
water utilities ? the Atlantic County Utilities Authority in
New Jersey and the Idyllwild Water District in California; two
agricultural projects ? Cocopah tree farm and the avocado ranch,
both in California; and this residential contract. The residential
contract brings the total backlog of projects in 2005 to nearly
$12.5 million, compared to total revenues of $5.8 million in
2004.
|
|
| WorldWater & Power
Signs $7.8 Million Contract to Supply Solar Electric Power to Avocado
Ranch |
| PENNINGTON,
NJ, May
18/PRIMEZONE/ |
WorldWater & Power
Corp. (OTC
BB:WWAT.OB -
News), maker of proprietary high-power solar systems, today announced
the signing of a contract for $7.8 million with Farm ACW of Fallbrook,
California, to install solar electric systems to power the avocado
ranch operations. The new contract brings the total of projects
signed in 2005 to $12.2 million, compared to total revenues in
2004 of $5.8 million.
The
contract is subject to certain conditions, including securing
grid interconnections with San Diego Gas & Electric. The
Company has already begun this process and expects approval
of the interconnection by Summer 2005.
The
contract with the avocado farm means WorldWater & Power Corp.
now has four projects in or preparing for operation in California
and New Jersey, including two water utilities -- Atlantic County
| |