SANTA BARBARA, CA--(Marketwire -09/06/12)- STWA, Inc. (ZERO) ("STWA" or the "Company"), a developer of applied solutions for oil and fuel delivery systems in the multi-billion dollar oil pipeline and diesel engine markets, has accomplished significant milestones since its inception, none more propitious than this past year. Throughout its evolution and in the face of adversity successful elements have coalesced through human resourcing. This is an amalgamation of shareholders, consultants and outside professionals. These three distinct entities are ultimately reliant upon a successful management team. On February 1, 2012 the Company announced the appointment of Gregg Bigger as CFO of STWA. It is the pleasure of the Board once again to announce his appointment to the role Presidency effective September 1, 2012.
Mr. Bigger has moved beyond the traditional role of Chief Financial Officer and over the past several months has worked and traveled tirelessly to ensure the highest probability for success in positioning STWA for future revenue generation.
For the past several months Mr. Bigger has been responsible for overseeing STWA's finance department, engineering and design team, has assisted in organizing and negotiating terms with STWA's supply chain partners in Wyoming. Mr. Bigger has actively engaged the various distribution partners throughout the world, in particular North America, where the company is currently being asked by several companies to submit formal proposals with regard to AOT™ engineering, design, manufacturing, assembly and installation.
This promotion will further allow Mr. Bigger to develop commercial opportunities on behalf of STWA as its President and Chief Financial Officer. The board and senior management have the full faith in awarding this additional layer of responsibility to Mr. Bigger, which we believe will assist in expediting any and all opportunities as we seek out and identify industry partners.
The counterbalance to any promotion is often a resignation. As of August 31, 2012, Chuck Blum, former CEO and President of STWA, submitted his voluntary resignation due to various health issues. "I wish to thank you, the Board of Directors and staff of STWA for your support and help during my tenure as President of STWA," said Chuck Blum.
Cecil Bond Kyte, CEO, states in response to Mr. Blum's resignation, "I would like to personally thank you for your unwavering commitment to STWA, Inc., in particular, withstanding its challenging and most speculative years of existence. We could not have made it without you. We are grateful to have your continued service as a Board member. Your awareness of our corporate history and unconventional means to innovate technology on a global scale demands the fidelity and integrity of a guardian such as yourself."
About STWA, Inc.
STWA, Inc. develops and commercializes energy efficiency technologies that assist in meeting increasing global energy demands, improving the economics of oil extraction and transport, and reducing greenhouse gas emissions. The Company's intellectual property portfolio includes 24 domestic and international patents and patents pending, which have been developed in conjunction with and exclusively licensed from Temple University. STWA's technologies include Applied Oil Technology™ (AOT™) which is designed to improve oil flow through pipelines. AOT™ has been proven in U.S. Department of Energy tests to increase the energy efficiency of oil pipeline pump stations. ELEKTRA™ improves diesel engine efficiency for industrial diesel engines, as well as diesel-powered trucks, trains, marine vessels, military fleets and jet turbines. More information including a company Fact Sheet, logos and media articles are available at: http://www.stwa.com.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.