SANTA BARBARA, CA--(Marketwired - November 25, 2013) - Save The World Air, Inc. (STWA) (ZERO), a developer of applied efficiency technology solutions for oil and fuel delivery systems in the multi-billion dollar global energy market, has announced that Greggory M. Bigger, the Company's President and Chief Financial Officer, has been named Chief Executive Officer and Chairman of the Board (Interim).
"I wish to thank the Board of Directors and the executive team at STWA for their confidence and the opportunity to further advance our goal of commercialization of the Company's AOT™ Viscosity Reduction Systems," Mr. Bigger stated. "As we navigate this smooth transition in leadership, we are progressing on time and on budget for the inaugural deployment of an AOT™ Midstream unit slated to go online with a $30 billion energy infrastructure company in Q1 of 2014."
With offices in Santa Barbara, California, STWA develops and commercializes pipeline flow assurance technologies that improve the economics, safety, and efficiencies of crude oil extraction and transportation systems. The Company's flagship product, Applied Oil Technology, is currently being evaluated by multi-national entities as a method by which to address the enormous energy industry growth associated with the current surge in oil production and transport.
In announcing the pending delivery of the Company's first AOT™ Midstream production unit, Mr. Bigger added that STWA executives are in active discussions with a variety of upstream and midstream operators, most recently during a series of meetings last week with tier-one oil producers and pipeline operators in Houston, Texas.
"During our time in the city with the highest concentration of oil and gas companies in the nation we took the opportunity to meet with our client regarding the AOT™ installation scheduled for March of 2014," Mr. Bigger commented. "In addition to this engagement representing a vigorous advancement of the AOT™ technology, this will be the Company's first opportunity to work in a commercial leasing capacity."
Since joining STWA in February 2012, Mr. Bigger assumed operational control of STWA, managing the Company's day-to-day operations, organizing the Board of Directors, bringing the firm into tighter compliance with Sarbanes-Oxley standards, providing oversight of the issuance of quarterly and annual reports and developing commercial opportunities with distribution partners throughout the world. On February 1st of last year, Mr. Bigger was appointed Chief Financial Officer of STWA and was subsequently named the Company's President on September 6th, 2012.
Note to Save The World Air, Inc. (STWA) Shareholders (ZERO): If you have not yet received your proxy documents in the mail, please contact STWA corporate office at 1-877-USA-STWA (1-877-872-7892) toll-free to alert us of any address change for our records and to request your proxy documents.
About Save The World Air, Inc. (STWA)
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 47 domestic and international patents and patents pending, which have been developed in conjunction with and exclusively licensed from Temple University. More information is available at: www.stwa.com.
AOT™ Viscosity Reduction Systems are a suite of commercial crude oil pipeline flow assurance products designed to be installed at pipeline pump stations in the upstream, gathering and midstream sectors.
AOT™ has been independently verified and tested by numerous third party entities such as the United States Department of Energy. Test reports and related links are available at www.stwa.com.
"Applied Oil Technology™," "AOT™ Midstream," "AOT™ Upstream," and "AOT™" are copyrights and registered trademarks of STWA, Inc.
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.