|
2004
NEWS July through December
June 16, 2004
WorldWater
Delivers One Megawatt for PV Project on Schedule
June 7, 2004
WorldWater Corp.
Opens New California Headquarters Near San Francisco
May 27, 2004
WorldWater Corp.
Names James S. Brown VP-Chief Financial Officer
May 19, 2004
WorldWater Corp.
Ships Additional $1.75 Million Of Solar Equipment To Cerro
Coso College Project
May 18, 2004
WorldWater Corp.
Awarded Major Energy Grant from 1st Rochdale Cooperative
April 27, 2004
WorldWater
Corp. Executive Authors Two White Papers for International
Online Water Conference
April 19, 2004
WorldWater
Corp. Shipping Additional $1.3 Million of Solar Equipment to
California College Job Site
April 6, 2004
WorldWater
Corp. Executes $3.64 Million Institutional Financing Agreement
April 5, 2004
WorldWater Corp.
Chairman Interviewed on NPR's Marketplace about Risks, Rewards
of Iraqi Contracts
March 19, 2004
WorldWater
Corp. Signs Agreement with Counterpart International - Leading
NGO with Projects in 36 Countries
March 15, 2004
WorldWater Corp.
Chairman Authors Section of New Business Book on Company Leadership
March 8, 2004
WorldWater Corp.
Shipping $1 Million of PV Equipment to California College Job
Site
March 4, 2004
WorldWater Corp.
to Exhibit Proprietary Solar Technology in Iraq Trade Expo
in Baghdad
February 26, 2004
WorldWater and
Water Tech Ag Supply Enter into Distribution Agreement for
Southern California Agricultural Market
February 23, 2004
WorldWater
Chairman to Address Institutional Investors on Company’s
Growth, Prospects
February 13, 2004
WorldWater
Announces Construction Company Start of 1 MW California College
Solar Project
February 6, 2004
WorldWater
Corp. Signs Memorandum of Understanding with The Sandi Group
to Form Iraqi Joint Venture
January 29, 2004
WorldWater
Corp. Announces Accomplishments and Milestones of 2003
January 28, 2004
WorldWater
Announces Sharp Increase in Sales Orders for 2004 and Revenue
Estimate for 2003 |
|
| WorldWater
Delivers One Megawatt for PV Project on Schedule |
| PENNINGTON, NJ, June
16/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced today that it has completed
supplying the massive one megawatt PV system installation at
Cerro Coso Community College in Ridgecrest, CA. WorldWater, serving
as exclusive PV equipment supplier, has delivered several million
dollars worth of components in the $8,963,053 project contracted
to Contra Costa Electric of Bakersfield, CA. The project represents
the largest PV installation ever implemented on any community
college campus.
"Obviously, a project of this magnitude required a great
deal of coordination with our contractor, Contra Costa Electric.
We delivered over 6000 Sharp Electronics solar modules, as well
as the inverters and distribution equipment required. Over several
weeks, we transported the equipment by 16 semi-tractor trailer
trucks from Southern California, Tennessee, and New Jersey, and
we made our contributions right on schedule,'' says Quentin T.
Kelly, WorldWater's Chairman and CEO.
"WorldWater exceeded our expectations on this project, ensuring
that all timetables were met and providing solar expertise that
helped the project proceed smoothly and cost-effectively,'' said
Richard M. Traynor, Vice President and General Manager of Contra
Costa Electric. "They have been an excellent partner.''
About WorldWater & Power
Corp. |
|
| WorldWater
Corp. Opens New California Headquarters Near San Francisco — Growing
Firm Establishes Head in Foster City |
| PENNINGTON, NJ, June
7/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced today that because of
its rapid growth in California, the Company is opening its Western
headquarters office in Foster City, near San Francisco.
The Company's Vice President of Sales, Carsten Bethge, will
operate corporate sales from the new office, relocating and increasing
sales and technical staff and inventory from the Company's two
smaller offices in Sacramento and Solana Beach. "The new
Foster City office will provide WorldWater Corporation with a
stronger presence on the West Coast of the USA, enabling us to
better serve our markets for solar systems in California,'' said
Mr. Bethge.
WorldWater Chairman and CEO Quentin T. Kelly stated: "Because
our business now stretches across the state, we need a geographical
focal point that reflects that expansion -- and Foster City gives
us the access we need.''
About WorldWater & Power
Corp. |
|
| WorldWater
Corp. Names James S. Brown VP-Chief Financial Officer |
| PENNINGTON, NJ, May
27/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced today that it
has named James S. Brown to the position of Vice President-Chief
Financial Officer, effective immediately.
Mr. Brown has extensive financial experience in the energy industry.
He was Director of Structured Finance, Americas, for Entergy
Wholesale Operations, Houston, TX; Project Finance Director for
El Paso Energy International, Houston; and VP-Finance for Westmoreland
Energy, Charlottesville, VA. He also held executive finance 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 brings a wealth of financial experience at this
crucial time of strong growth in our company,'' said Quentin T.
Kelly, WorldWater's Chairman and CEO. "Jim has the kind of
experience we need, both domestically and internationally, to help
deal with the positive changes facing our company now and into
the future.''
Mr. Brown succeeds Terri Harris, former VP-Controller. |
|
| WorldWater
Corp. Ships Additional $1.75 Million of Solar Equipment to
Cerro Coso College Project |
| PENNINGTON,
NJ, May 19/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced
today that it is shipping an additional $1.75 million of equipment
to the Cerro Coso Community College solar project jobsite in
Ridgecrest, CA, the largest PV installation on any U.S. community
college campus. The current shipments supplement earlier shipments
in March and April, when the company shipped $1 million and $1.3
million, respectively, in supplies to the site for the one-megawatt
project. WorldWater is the exclusive PV supplier for the college
and its prime contractor, Contra Costa Electric, Inc. of Bakersfield,
CA.
"We'll be sending a truckload of solar equipment every
day during the last week of May,'' reports WorldWater Chairman
and CEO Quentin T. Kelly, commenting on the magnitude of the
project.
Implementation of the full $8.9 million contract by Contra Costa
will supply the college with Sharp Electronics solar modules as
well as inverters and distribution equipment, reducing the school's
overall energy consumption while supplying 50-60% of its total
electricity. Construction, which began in February of this year,
is scheduled for completion in June 2004. Work-in-progress photos
may be accessed via the WorldWater website at http://www.worldwater.com/WW/wwpages/california.html#cerro. |
|
| WorldWater
Corp. Awarded Major Energy Grant from 1st Rochdale Cooperative |
| PENNINGTON, NJ, May
18/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced
today that it has been awarded a grant of $377,500 from 1st Rochdale
Cooperative Group Ltd. of New York City, the nation’s first
urban electricity cooperative.
A Memorandum of Understanding has been signed between WorldWater
and 1st Rochdale to join forces in developing solar
projects in New York. “The combination of our technology
and project implementation expertise, together with 1st Rochdale’s
aspiration to provide green power to its customer base, is expected
to bring cost effective solar power solutions to thousands of
customers,” stated Dr. Anand Rangarajan, WorldWater’s
Executive Vice President.
According to 1st Rochdale’s Executive Vice President
Gregory Wortham, “Working with WorldWater will help us advance
(our) mission in a significant way.”
1st Rochdale (www.1strochdalenyc.coop)
was founded in 1997 to provide families and businesses in New York
City and Westchester County with dependable, affordable, and clean
energy resources. Through its involvement with the International
Program of the National Rural Electric Cooperative Association
(NRECA International), 1st Rochdale has expanded its
efforts globally, creating a clear synergy with WorldWater’s
scope of activity. |
|
| WorldWater
Corp. Executive Authors Two White Papers for International Online
Water Conference |
| PENNINGTON, NJ, April
27/BUSINESS WIRE/ |
Dr. Anand Rangarajan, Executive Vice
President of WorldWater Corp. (OTC
BB:WWAT.OB - News) has written two papers on
the Company's unique, high-powered solar technology that will be
featured on the IDS Water 2004 international online conference.
The conference will launch May 10 at http://www.idswater.com,
and is presented in association with the U.N.-sponsored Water Supply
and Sanitation Collaboration Council (WSSCC).
Dr. Rangarajan's first paper demonstrates how municipal water
systems and wastewater treatment plants can reduce their electricity
costs and also have back up power capability in the event of
power outages, using WorldWater's new AquaMax solar motor
drive technology for applications up to 600 hp.
His second paper is a case study of WorldWater's installation
of its unique AquaMeter rural municipal water system, which
uses solar energy and prepaid "smart cards'' in the Philippines.
Because of the reliable fee collection method, the municipality
of Ronda was able to borrow 100 percent of the project cost from
the Philippine National Bank. This project was implemented on a
purely commercial basis, without the need for subsidies, and residents'
cost for water has been reduced as well.
IDS Water 2004 is an online conference and exhibition highlighting
the latest developments in the water industry. It is presented
by Industry IDS, an internet-based conference organizer.
About WorldWater & Power
Corp. |
|
| WorldWater
Corp. Shipping Additional $1.3 Milliion of Solar Equipment to California
College Job Site |
| PENNINGTON, NJ, April
19/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced
today it will ship an additional $1.3 million of photovoltaic
equipment to the job site at Cerro Coso College in Ridgecrest,
CA over the next two weeks. The Company earlier shipped
$1 million of the project equipment to the college in March.
WorldWater is the exclusive PV supplier for the one-megawatt
project, which is the largest PV installation on a U.S. college
campus. The company will ship six truckloads of solar panels
from Sharp Electronics and other equipment to the site by the
beginning of May, in keeping with the project’s scheduled
June completion. Construction on the project began in February.
The total construction contract of $8.9 million was awarded in
December to Contra Costa Electric of Bakersfield, CA, which selected
WorldWater for the PV systems supply. The project is expected
to supply between 50 and 60 percent of the total electricity requirements
of the college.
Work-in-progress photos of the Cerro Coso project can be accessed
via http://www.cerrocoso.edu/iwv/pvf/01.htm. |
|
| WorldWater
Corp. Executes $3.64 Million Institutional Financing Agreement Company
Has Call on Funds Totaling $7.28 Million |
| PENNINGTON, NJ, April
6/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced today that it
has received a $3.64 million common stock purchase commitment,
with a call on an additional $3.64 million at WorldWater's option,
for a total of $7.28 million. SBI Brightline VIII, LLC, an affiliate
of SBI-USA, LLC, will provide the investment, subject to certain
conditions.
Among the terms and conditions, the financing is contingent
on the effectiveness of a Registration Statement with the Securities
and Exchange Commission covering the securities to be issued
in this transaction. WorldWater Corp. has now received an advance
of $800,000 from SBI Brightline in the form of a loan bridging
the period before the Registration effective date.
The SBI agreement provides financing without resets or pricing
adjustments. By having fixed price financing, the Company can elect
to draw down the capital needed without the risks and uncertainties
inherent in an equity credit line.
"This financing provides the needed capital to fund our growth
strategy," said Quentin T. Kelly, Chairman and CEO of WorldWater
Corp. "Our management team will focus the new resources on
expanding our distribution network, supporting sales personnel,
servicing our customers, and continuing to improve our technology.
We are better positioned than ever to capitalize on the exciting
opportunities we feel exist in the solar energy and water management
industries, both in the United States and overseas."
"We are very excited to be involved with WorldWater," said
Shelly Singhal, Managing Director of SBI USA. "We believe
there is tremendous value in alternative energy solutions and that
WorldWater has the technology and management to allow it to play
an integral role in implementing these solutions worldwide."
About SBI USA: Based in Irvine, California, SBI-USA is a full
service investment banking firm committed to providing financing
solutions for emerging growth companies in the United States and
Asia. SBI-USA is a member of the SOFTBANK Investment Group and
a division of First Securities USA, Inc., member NASD/SIPC.
About WorldWater & Power
Corp.
Forward Looking Statements
This document may contain statements which constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Act of 1995. "Forward-looking statements" include any
statement which is not of purely historical fact, such as statements
concerning plans, objectives, goals, strategies and future events
and underlying assumptions thereof. Such forward-looking statements
involve known and unknown risks, and uncertainties expressed or
implied by such forward-looking statements could be materially
different from those projected. Such factors include, among others,
general economic and business conditions which may impact demand
for the Company's solar generated pumps and electricity; changes
in tax laws and regulations; the ability of the Company to implement
its marketing strategy and to expand its business in the worldwide
market; the ability of the Company to build its production facility
up to the level of efficiency and output of its planned production;
and changes in laws and government regulations applicable to the
Company, including laws in foreign nations. |
|
| WorldWater
Corp. Chairman Interviewed on NPR's Marketplace about Risks, Rewards
of Iraqi Contracts |
| PENNINGTON, NJ, April
5/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) Chairman and CEO Quentin
T. Kelly was interviewed April 1 on NPR's Marketplace business
program by host David Brown about the risks and potential rewards
of pursuing contracts in Iraq, particularly in light of events
this past week in Falluja.
WorldWater had been scheduled to participate in a trade expo
in Baghdad, which was indefinitely postponed Thursday following
the killings of four American contractors in Falluja on Wednesday.
WorldWater has been actively pursuing Iraqi contracts, and a team
of seven WorldWater engineers, led by Dr. Anand Rangarajan, is
scheduled to depart for Baghdad for high-level meetings with U.S.
contracting companies and Iraqi ministries this weekend. Those
plans have not been altered by the Falluja killings, Mr. Kelly
stated in the interview. Participation on the team going to Baghdad
has been on a volunteer basis from the start, he said. "I
spoke to each engineer individually stating that I would not ask
them to go and each one said, 'I want to go.'"
Mr. Kelly noted that WorldWater has proprietary solar technology
and water management expertise which could be of great value in
bringing water and electricity to the Iraqi people, particularly
with the high-powered AquaMax(TM) solar pump. Also, the company
has operated in areas with significant security concerns in the
past, including the Moro Islamic Liberation Front (MILF) rebel
camp in the Philippines, Pakistan, Afghanistan, and Somalia.
Marketplace, which is produced by Minnesota Public Radio, has
the largest cumulative audience for any business program on radio
or television in the country. |
|
| WorldWater
Corp. Signs Agreement with Counterpart International - Leading NGO
with Projects in 36 Countries — Joint Development Projects
Planned for Philippines, Iraq and Afghanistan |
| PENNINGTON, NJ, March
19/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced today that it
has signed a Memorandum of Understanding with Counterpart International
(CPI), a Washington, D.C.-based non-governmental organization
(NGO), to collaborate on agricultural and irrigation development
and water management projects. The initial joint efforts will
focus on projects in the Philippines, Afghanistan and Iraq, according
to Don Feil, Vice President of CPI and Quentin T. Kelly, Chairman
and CEO of WorldWater.
CPI is currently implementing projects in Northern Iraq for
the U.S. Department of State and the United Nations High Commissioner
on Refugees (UNHCR), including emergency resettlement, community
reconstruction and economic development.
Both WorldWater and Counterpart are already independently operating
in the Philippines: WorldWater has a wholly owned subsidiary, WorldWater
Philippines, Inc., and Counterpart has a Philippine-registered
subsidiary, Counterpart Philippines, and an investment facility,
EnviroVentures.
A 38-year old non-profit, Counterpart International (www.counterpart.org)
is one of the leading NGOs providing microcredit and technical
assistance to micro-, small and medium-sized businesses in emerging
economies. CPI implements projects in more than three-dozen countries
through a network of 17 international program offices. Its organization-wide
donor portfolio is more than $80 million, which is complemented
by an additional $100 million of in-kind donations through its
community and humanitarian assistance program. |
|
| WorldWater
Corp. Chairman Authors Section of New Business Book on Company Leadership |
| PENNINGTON, NJ, March
15/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) has contributed a section
of the upcoming book Inside the Minds: The Green Company, to
be published in May 2004 by Aspatore Books.
Inside the Minds: The Green Company is an insider's perspective
on the strategic thinking behind leading and evolving an environmentally
conscious company. It features groundbreaking CEOs on the benefits
and economic rewards of operating an environmentally-conscious
company. Other contributors to the book include Yves Couette,
President and CEO, Ben and Jerry's, Steven Zwolinski, CEO, GE
Energy-Wind Energy Segment, and Steve Demos, Founder and President,
White Wave, Inc., the largest producer and marketer of soymilk
products in the U.S.
Mr. Kelly's chapter, "The Environmental Nexus: Where Water
and Solar Power Meet" discusses the global water and energy
crisis -- and the solutions that WorldWater Corp. provides to both
water and energy problems. "Water and energy are the source
and pulse of our lives and their supplies are rapidly dwindling," Mr.
Kelly says. "We all need to increase the use of the technologies
available to help resolve these crucial problems."
WorldWater is fortunate, Mr. Kelly notes, because, as opposed
to many businesses, "the more profit our company makes, the
more society benefits - clean air, fresh water for drinking and
food production, light and clean power for healthy home and industrial
use. We earn money by enhancing the world's quality of life."
The book is part of Aspatore's "Inside the Minds" series,
which provides readers with proven business intelligence from C-level
executives (Chairman, CEO, CFO, CMO, Partner) at respected companies
nationwide. The book will be available at Barnes & Noble, Borders,
Amazon.com and other booksellers nationwide or from www.Aspatore.com |
|
| WorldWater
Corp. Shipping $1 Million of PV Equipment to California College Job
Site |
| PENNINGTON, NJ, March
8/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced today that it
will ship $1 million of photovoltaic equipment this month to
the job site at Cerro Coso Community College in Ridgecrest, CA.
WorldWater is the exclusive PV supplier for the one-megawatt
project, which is the largest PV installation on a U.S. college
campus.
Construction on the project began in February and is scheduled
for completion in June 2004. The total construction contract
of $8.9 million was awarded in December 2003 to Contra Costa
Electric, Inc. of Bakersfield, CA, which selected WorldWater
for the PV systems supply.
The equipment being shipped includes solar modules from Sharp
Electronics, inverters, combiner boxes, isolation transformers
and electronic components. The project design consists of 6 1/2
acres of ground mounted solar modules and a freestanding concrete
building that will house the inverters, distribution equipment
and allows for student laboratory space. The project's goal is
to reduce overall energy consumption at the college, and is expected
to supply between 50 and 60% of the total electricity requirements
of the college. |
|
| WorldWater
Corp. to Exhibit Proprietary Solar Technology in Iraq Trade Expo
in Baghdad |
| PENNINGTON, NJ, March
4/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced today it will
participate in the Destination Baghdad Expo, with its Iraqi partner
The Sandi Group, from April 5 through 8 at the Baghdad International
Fairgrounds.
The Destination Baghdad Expo is sponsored by the Iraqi-American
Chamber of Commerce and Industry, in cooperation with the Iraqi
Governing Council, the Coalition Provisional Authority and the
Federation of Iraqi Chambers of Commerce. Corporate sponsors
of the Expo include Motorola, General Electric, Canon, Computer
Associates and DHL. Other exhibitors include Microsoft, Federal
Express, Parsons Engineering, Samsung Corp. and Daewoo International,
as well as the Sandi Group.
WorldWater's exhibit with Sandi will feature the company's proprietary
solar technology (AquaMax(TM)) which can operate motors and water
pumps up to 600 hp by solar alone or in combination with the electric
grid. This mainstream power capability enables the AquaMax(TM)
to drive pumps for water utilities and wastewater treatment plants
of Baghdad and other communities independently (when the electric
grid is slowed or not working) or in combination with the grid
or diesel generators.
About WorldWater & Power
Corp.
The Sandi Group (www.thesandigroup.com)
is a developer, contractor, logistical support provider and investor
in Iraq. The company has interests in Iraq in real estate, hotels,
banking, air passenger and cargo transport, agriculture, water
treatment, office supplies and oil and business development. |
|
| WorldWater
and Water Tech Ag Supply Enter into Distribution Agreement for Southern
California Agricultural Market |
| PENNINGTON, NJ, February
26/BUSINESS WIRE/ |
WorldWater Corp. (OTC
BB:WWAT.OB - News) announced that it has entered
into an agreement with Water Tech Ag Supply, a leading provider
of products and services to the agriculture industry in the Southwest
and Mexico. Water Tech Ag Supply will initially sell WorldWater's
solar irrigation and solar farming systems to its customer base
in Southern California. Water Tech Ag Supply's sales staff has
completed initial training for WorldWater products and has initiated
customer proposals in the targeted region.
"We are extremely pleased to be working with a partner
that is so well established and highly regarded in the California
agriculture industry," commented Quentin Kelly, CEO of WorldWater
Corp. "This is further evidence that we are executing our
strategy of partnering with large and well qualified companies
in order to leverage existing distribution infrastructure, shorten
sales cycles and bring our products to a wider market." Recently,
WorldWater has announced new relationships with Contra Costa
Electric (a division of Emcor), and with The Sandi Group of Iraq.
About Water Tech Ag Supply Water Tech Ag Supply is a major regional
full service distributor offering agricultural, nursery ornamental,
and turf customers a wide range of products and services. These
include rental equipment, irrigation design, irrigation installation,
pumping systems, pest control consulting, soil nutrient management,
fertilizers, and other agronomic products to commercial growers
in the Southwest and Mexico. For more information, see http://www.agsupply.com. |
|
| WorldWater
Chairman to Address Institutional Investors on Company’s Growth,
Prospects |
| PENNINGTON, NJ, February
23/BUSINESS WIRE/ |
Quentin T. Kelly, Chairman and CEO
of WorldWater Corp. (OTC
BB:WWAT.OB - News), will address the Institutional Investor
Forum 2004 conference February 25 in New York. Mr. Kelly will discuss
the many milestones his company reachedin 2003 as well as the more
than $4 million in sales orders for completion already received
in 2004.
Institutional Investor Forum 2004 will take place at the Warwick
Hotel and is sponsored by Symposium, LLC.
WorldWater Corp. is an international solar engineering and water
management company with unique, high-powered solar technology providing
solutions to water supply and energy problems |
|
| WorldWater
Announces Construction Company Start of 1 MW California College Solar
Project |
| PENNINGTON, NJ, February
13/BUSINESS WIRE/ |
Following a formal groundbreaking
ceremony on February 5, construction has begun on the nation's
largest college installation of a photovoltaic (PV) system, it
was announced by WorldWater Corp. OTC
BB:WWAT.OB - News), the exclusive PV supplier for the
project. The one-megawatt system is being installed at Cerro Coso
Community College, Ridgecrest, CA by the prime contractor, Contra
Costa Electric, Inc. of Bakersfield, CA.
The total Cerro Coso construction contract of $8.9 million was
awarded in December to Contra Costa Electric, which selected
WorldWater Corp. for the PV systems supply.
The project design consists of 6 1/2 acres of ground mounted Sharp
Electronics solar modules and a freestanding concrete building
that will house the inverters, distribution equipment and allows
for student laboratory space. The project's goal is to reduce overall
energy consumption at the college. It is scheduled for completion
in June 2004. |
|
| WorldWater
Corp. Signs Memorandum of Understanding With The Sandi Group to Form
Iraqi Joint Venture |
| PENNINGTON, NJ, February
5/BUSINESS WIRE/ |
WorldWater Corp. OTC
BB:WWAT.OB, announced today that it has signed a Memorandum
of Understanding (MOU) with The Sandi Group, Inc. for the purpose
of forming a Joint Venture to solicit contracts in Iraq in the
areas of Public Works and Water and Power Sector Rehabilitation.
The two companies intend to bid on contracts which will utilize
WorldWater’s proprietary solar power and water management
services, technology and products. The companies have already
entered a bid on at least one project in Baghdad.
About The Sandi Group The Sandi Group, with offices
in the United States, Iraq, and other countries, is a developer,
contractor, logistical support provider and investor in Iraq.
Its founder and chairman is Mr. Rubar Sandi, who is also Chairman
of Corporate Bank Business Group and founder of the Iraq-U.S.
Business Council. The Sandi Group has interests in Iraq in real
estate, hotels, banking, air passenger and cargo transport, agriculture,
water treatment, office supplies, oil and business development.
About WorldWater & Power
Corp. |
|
Worldwater
Corp. Announces Accomplishments and Milestones of 2003
List of Firsts in Solar Business includes
Largest Irrigation and Refrigeration Compressor Pumps, Largest
College Campus PV Installation in Nation |
| -PENNINGTON,
NJ, January 29/BUSINESS WIRE/ |
WorldWater Corp. OTC
BB:WWAT.OB, announced today the Company’s most
significant accomplishments and milestones achieved during 2003.
Installed world’s largest solar irrigation pumping
system WorldWater installed a 50 Horsepower
irrigation pumping system at the D.T. Locke Ranch in Mendota,
CA. This is the largest solar irrigation pumping system in
the world.
Installed world’s largest solar-powered refrigeration
compressor system WorldWater installed a solar-powered
compressor pump to operate a 350 Horsepower Hydracooler at
Lehr Brothers, Inc., a potato processing facility near Bakersfield,
CA. This is the largest solar-driven compressor pump in the
world.
Participated in a successful bid for supply of the largest PV
installation on a college campus in the US (Cerro Coso College,
Ridgedale, CA), scheduled for completion by the prime contractor,
Contra Costa Electric Inc., in June, 2004.
Installed world’s first commercialsmart card/solar
drinking water delivery system WorldWater subsidiary,
WorldWater (Philippines) Inc. inaugurated the world’s
first commercial solar powered, prepaid municipal water distribution
system in September 2003, in Ronda, Cebu, Philippines. The
Company’s proprietary AquaCardTM system enabled the Philippine
National Bank to finance the project, which , because of its
commercially sustainable economics, may be replicated in rural
communities throughout the Islands.
Expanded intellectual property portfolio WorldWater
was issued a new U.S. patent for its automatic switching technology,
which enables a gridtied system to switch to backup solar
power within a fraction of a second of a power failure. The proprietary
devices sense power interruption and switch automatically to the
WorldWater solar equipment to keep power flowing to pumps, compressors,
chillers or other motors if the grid goes down. The technology
was featured in the New York Times Patents column on September
3, 2003.The Company already held one related patent and has three
more in process.
Established key partnerships WorldWater continued
to establish relationships with important partners in the energy
field, such as WinRock International, The International Center
for Water Technology, Princeton Power Systems, Contra Costa Electric
Inc., and, internationally, the Sandi Group, the largest Iraqi
civilian construction and industrial building company.
"We are very pleased with our progress in 2003?, stated Quentin
T. Kelly, Chairman and CEO of WorldWater Corp." We were able
to make our first major sales and implementations in our key markets.
Now that we have proven that the technology works well and can
be implemented in a timely and efficient manner, we hope to expand
our revenues in 2004?. |
|
| WorldWater
Corp. Announces Sharp Increase in Sales Orders for 2004 and Revenue
Estimate for 2003 |
| -PENNINGTON,
NJ, January 28/BUSINESS WIRE/ |
WorldWater Corp. OTC
BB:WWAT.OB, today announced that it has already received
sales orders for completion in 2004 in excess of $4 million.
This represents an increase of over 300% from estimated revenue
in 2003 of approximately $1,200,000.
Summary of Sales Growth:
2002 $643,541
2003 (Est.) $1,200,000
2004 (Current Orders) $4,000,000 plus
The Company cannot give any guidance at this time regarding projected
earnings or losses for 2004.
WorldWater is a full service international solar energy and water
management company with unique high-powered solar technology providing
solutions to water supply and energy problems.
The company recently patented AquaMax pumping systems capable
of operating pumps up to 600 hp, making it the first solar company
in the world with the power to deliver mainstream pumping capability.
"Forward-looking statements" within the meaning of the
Private Securities Litigation Act of 1995. "Forward-looking
statements" include any statement which is not of purely historical
fact, such as statements concerning plans, objectives, goals, strategies
and future events and underlying assumptions thereof. Such forward-looking
statements involve known and unknown risks, and uncertainties expressed
or implied by such forward-looking statements could be materially
different from those projected. Such factors include, among others,
general economic and business conditions which may impact demand
for the Company’s solar generated pumps and electricity;
changes in tax laws and regulations; the ability of the Company
to implement its marketing strategy and to expand its business
in the worldwide market; the ability of the Company to build its
production facility up to the level of efficiency and output of
its planned production; and changes in laws and government regulations
applicable to the Company, including laws in foreign nations. |
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About WorldWater & Power
Corp.
WorldWater 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. The Company's recently
patented AquaMax(TM) solar pumping systems, capable of driving motors
up to an unprecedented 600 horsepower, make WorldWater the first
and only solar company in the world with the power to deliver mainstream
pumping capability. The Company is also a pioneering provider of
solar powered water systems in the Philippines and developing nations
in Africa and Asia.
WorldWater seeks to achieve significant revenue growth and earnings
leverage by marketing its proprietary solar technology through
multiple channels to a broad spectrum of institutional and private
parties anywhere in the world. Prior to the development of the
AquaMax(TM) technology, solar powered motors were limited in
output to only 5 horsepower, and thus incapable of pumping the
volume of water required for large scale systems. WorldWater's
proprietary AquaMax(TM) systems can drive motors up to a revolutionary
600 horsepower, generating significant commercial opportunities
for exploitation by WorldWater and vastly expanding the range
of applications for clean, renewable solar power in commercial,
municipal and institutional mainstream applications. Each day,
more solar energy bathes Earth than its 5.9 billion inhabitants
consume in equivalent electric power in 27 years, according to
the U.S. Department of Energy's National Renewable Energy Laboratory
in Golden, Colorado. With many international and domestic governmental
agencies increasingly concerned about clean air and water conservation,
WorldWater is well positioned to implement its patented AquaMax(TM)
systems for the supply of all power needed for the largest irrigation
and cooling systems in the world - with no pollution and no excess
pumping to foul the air or excessively drain the natural water
resource.
It is the opinion of WorldWater's management and board of directors
that few other companies are better positioned to capitalize on
the worldwide demand for next-generation solar technology, as represented
by the Company's patented technology. The energy generated by WorldWater
is pollution-free, fully renewable, reliable, highly scalable and
requires lower operating costs. WorldWater's early-mover advantage,
and its next generation solar technology, will enable the Company
to exploit a broad range of high revenue and high profit opportunities
in both the public and private sectors in multiple worldwide markets,
facilitating additional contracts to increase revenues while concurrently
lowering costs and increasing margins. For more information about
WorldWater and its next-generation proprietary technology, visit
the website at www.worldwater.com, or for investor-specific information
at www.trilogy-capital.com
Contact: WorldWater & Power Corp. Debra J. Grady, 609-818-0700 dgrady@worldwater.com
Investor Relations: Trilogy
Capital Partners Paul Karon, 800-342-1467 paul@trilogy-capital.com
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