SANTA BARBARA, CA--(Marketwired - October 08, 2013) - Save The World Air, Inc. (STWA) (ZERO), a developer of energy efficiency technologies in the multi-billion dollar oil pipeline and diesel engine markets, today announced the Company has issued a Letter to Shareholders:
To Our Shareholders,
It is my great pleasure to report that this past year has been one marked by strong forward movement in the commercialization of STWA's AOT™ Viscosity Reduction Systems technology and, equally important, in the strengthening of the Company's fiscal and patent protection structures. Due to the Company's tight focus on ensuring our equipment is optimized for commercial deployment, STWA is exceptionally well positioned to supply the multi-billion dollar oil and energy industries with technologies uniquely capable of solving the pressing challenges facing today's leaner, efficiency-minded energy suppliers.
The progress we've made since our 2012 Shareholder Letter is further evidenced by several significant milestones in the Company's history:
During the first quarter of 2013, STWA entered into two new non-disclosure agreements, increasing the number of multi-national companies with which we are jointly evaluating the deployment of AOT™ technologies from five to seven, including several entities dominant in emerging nations with fast-growing oil consumption. These evaluations come as a result of a year and a half of executing on a decisive business development strategy with Upstream and Midstream operations in North America, South America, Africa, Austral-Asia, Asia and the Middle East.
To further generate overseas awareness, STWA executives conducted a series of institutional investor meetings in Geneva and Zurich and met with senior management decision-makers from a $20 billion market cap UK-based energy company with operational holdings on multiple continents. During this trip STWA also hosted an informal investor gathering in London, England.
We're pleased to announce that STWA has entered into a regional distributorship with newly formed North African energy equipment distributor Energy Tech Africa (ETA) to make STWA's product suite available to oil producers in Africa and the Middle East. Under ETA founder and CEO Mr. Timothy Nimmo's leadership, they have made a commitment to provide oil samples to STWA from a number of leading candidates for AOT™ technology in South Sudan, Egypt and Qatar.
In one of the Company's most noteworthy accomplishments to date, STWA signed a material contract with a $30 billion midstream oil pipeline operator (8-K on file) to integrate AOT™ technology into their flagship pipeline located in North America. Under this agreement STWA has been engaged in an intensive design, engineering and review process since May 2013. The goal of these collaborative efforts is for deployment of AOT™ beginning in Q1 2014. This venture has enabled STWA to mature as a technology and equipment provider to the energy industry and to become accepted as a peer supplier and approved vendor within the industry. Furthermore, this pivotal moment has moved us from being a purely R&D company to a revenue-producing entity for the first time, marking the successful culmination of a long-term business strategy set in motion beginning early 2012.
Our long-term relationship with Temple University continues to yield useful data for the further refinement of AOT™ technology. Ongoing oil sample testing by Dr. Rongjia Tao and his team provide us with invaluable insight into the paraffin profile of the world's high yield hot spots. We appreciate the dedicated efforts of Dr. Tao and Stephen G. Nappi.
We want to express our sincere gratitude to our loyal shareholders for their support and confidence. Please join us at our annual shareholder's meeting on Monday, December 16th for a reception at 9:00AM and Shareholder Meeting from 10:00AM to 12:00PM at the Fess Parker Santa Barbara Doubletree Hotel and Resort in the Santa Rosa-San Miguel Rooms. For directions to the hotel or other information, the front desk can be reached at (805) 564-4333. For shareholder related questions, please contact Jeremy Roe of Integra Consulting Group, LLC, at (925) 262-8305.
To register your e-mail address to receive automated news alerts, regulatory filings, monthly and quarterly reports, a video overview of AOT™ technology and other IR content, visit STWA's Investor Information webpage.
Cecil Bond Kyte
Chief Executive Officer and Chairman of the Board
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 including an AOT™ technology overview video and a Corporate Fact Sheet (.pdf), logos and media articles are available at: 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.