STWA Reports Initial Revenues
May 27 2014 - 5:59AM
Marketwired
STWA Reports Initial Revenues
SANTA BARBARA,
CA--(Marketwired - May 27, 2014) - STWA, Inc.
(the "Company") (OTCQB: ZERO), a
developer of integrated solutions for the energy
industry, announced today that it has received its first
revenue of $60,000, representing the first lease payment arising
from the installation of its Applied Oil Technology flow assurance
product on a pipeline located in Wichita, Kansas. We are pleased
and excited about this significant milestone and development in our
efforts to commercialize our AOT technology, and look forward to
the collaborative testing of our product on this pipeline with our
client and Temple University.
Developed to address the historic surge in upstream oil
production and pressing critical infrastructure needs, the Applied
Oil Technology (known as the "AOT") system is a long-distance crude
oil pipeline flow assurance product designed to increase flow rates
and improve efficiency of pipelines.
The 110-ton AOT Midstream installation (pictured) is the result
of a 5-year research and development project conducted by STWA,
Temple University of Philadelphia and 19 energy-industry companies,
suppliers and manufacturers and is installed in North America for
the first time.
The AOT system is based on technology developed by physicists at
Temple University to alter the mechanical properties of crude oil
under flow. The technology operates by reducing the viscosity of
crude by exposing it to precise electrical fields in the pipeline.
The product was designed to meet the rigorous demands of major
pipeline pumping stations, in order to improve flow and reduce
energy-consumption operating costs and emissions associated with
transporting oil over long distances.
"This marks a significant moment in our Company's history," said
STWA Technical and Operational Director Bjorn Simundson. "Our job
has been to take this technology out of obscurity in a science lab,
and navigate the process to bring it to commercial reality. This
installation and what we believe will be a successful test of our
technology is a first step in that direction. We have been truly
blessed to work with some of the sharpest minds in the industry on
this monumental undertaking, and during our recent presentation at
the PEG conference, the reception and interest in this technology
and our ability to innovate and execute within this complex
industry was paramount. As a result of this success and that
conference presentation, we have already added two more major
companies under NDA and are studying their infrastructure needs at
this time with more on the way. With this AOT, and the forthcoming
testing of our new upstream products beginning this summer, we
believe we are really in a good spot moving forward. I'm humbled
and honored to be a part of this amazing team."
"When I first became a part of this Company in 2012 as the CFO,
it became readily apparent that there was an unprecedented
opportunity awaiting us for a commercialized product such as AOT,"
commented Gregg Bigger, STWA Chief Executive Officer and Chairman
of the Board. "Due to the rampant growth in oil production over the
past several years due to new technologies and techniques being
widely deployed seemingly overnight, producers and pipeline
operators are intently focused on increasing takeaway capacity
through operational efficiencies, which is precisely what AOT is
designed to accomplish. We have been working diligently to
commercialize our AOT technology. We would like to thank all of our
employees, industry partners, customers and most importantly our
shareholders for standing by us during this journey. Thank you for
your continued support."
Safe Harbor Statement: Some of the statements in this release
may constitute forward-looking statements under federal securities
laws. Please visit the following link for our complete cautionary
forward-looking statement:
http://ir.stockpr.com/stwa/safeharbor
About STWA, Inc. STWA, Inc. (Save the World Air, Inc.) is a
Nevada Corporation that works with commercial entities, educational
institutions and industry manufacturers to deliver innovative
solutions and licensable technologies to the conventional energy
production and transportation industry. More information is
available at: www.stwa.com. STWA, Inc. The Company's SEC filings
can be found here.
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Investor Relations & Media Contact: STWA, Inc. Tel: (805)
845-3581 E-mail: investor@stwa.com