JOINT VENTURE AND MALTA CERTIFICATION STATUS
El Dorado Hills, CA, November 10, 1999- Ocean Power Corporation (OTCBB Symbol: PWRE) is pleased to announce the signing of a letter of intent with Bridge Ventures Inc. of Istanbul, Turkey for the development of a regional Joint Venture (JV). The initial demonstration project will be in support of the development of a high-end, Eco-Resort on the Taslica Peninsula, opposite the Greek island of Rhodes.
Bridge Ventures and Ocean Power will now work on the development of a more detailed agreement to bring this JV up to the status of its other two regional JVs Apollo Water and Power, for Greece, and Cameron Water and Power, for the Caribbean, Central and South America.
These Joint Ventures will lead the Pilot Plant program, of a minimum of six one million gallon per day (1 mgd) plants. Site selection is currently underway and final selections will be made after completion of the ongoing Malta Certification and signature of the final Joint Venture documents.
Ongoing status of the Malta Certification activity is now available on the Ocean Power website via a Malta Update link on the home page.
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This release is from the PWRE web site. If you read it carefully, PWRE is essentially announcing (again) that it has three JV projects underway (Caribean, Turkey, Greece) with a total of 6mm gals/d of water production to be built. This is a pretty good indication of near term business potential.
Gm
As a paid consultant to the company, these are my disclaimers:
 Message 7879715
Message 5903465 |
