Solverdi Worldwide Ltd (ASX:SWW), the world’s renewable utility, today announced it executed a US$14.8 million annual contract for biofuels energy supply to Turkish Republic Northern Cyprus. Under the terms of a three term (five years per term), renewable contract between Solverdi and IBI, Inc, IBI has assigned to Solverdi a 15 year commitment for the supply of biofuel from the Turkish Republic of Northern Cyprus. The government commitment was issued through a tender offer in March 2009 by the Agriculture Department of Northern Cyprus.

Solverdi’s contract calls for a guaranteed government minimum of 15,000 metric tons per year, and will increase to 20,000 metric tons in January 2010. The contract is based on a blended rate of 5.75% of all diesel fuel consumed or sold in Northern Cyprus.

Chief Executive Officer Dennis M. Danzik stated, “The contract in Cyprus offered up the opportunity to ship and convert our former Narangba facility, which was located outside Brisbane Australia, to Cyprus. Solverdi technology is currently being incorporated into the reactor portions of our former Narangba refinery in Los Angeles, before shipment to our new plant site at Famagusta, in the Turkish Republic of Northern Cyprus.”

Danzik also stated, “Our current success in Cyprus is based on the diligent work in the United States of Dane Woods, CEO of IBI and Cruz Bustamante, former Lt. Governor of California. Leading Solverdi’s effort in Cyprus, our newest management team member, Hasan Ozbafli, has done a superior job in winning this opportunity to supply biofuels to the Northern Cyprus government.”

“Our contracted business for 2010 is now very strong, and with this new foundation, we intend to move into other Mediterranean countries from our base in Cyprus, headed by Mr. Ozbafli. The delivery of our plant equipment is already underway, and installation of Phase I will begin in January. Cyprus is a manageable, business friendly opportunity in a Country that is acting in good faith to expand access and use of renewable fuels and energy.” Danzik added.

Dane Woods, CEO of IBI, Inc stated, “In 2008 our firm began a search to identify the best technology partner to fulfill the biofuels supply requirement. In identifying Solverdi, we have found a competent operator with superior engineering and manufacturing skills. Solverdi is actually delivering renewable product. The Solverdi business model will allow for steady growth for years to come. ”

Cruz Bustamante, former California Lt Governor, and House Speaker stated, “Solverdi’s business is unique in the world of renewable energy. I have had the experience of hearing and seeing dozens of renewable opportunities, most are just that, opportunities. Solverdi’s renewable energy delivery is a working business, and Solverdi’s team is laser focused on installations. I look forward to working with the Solverdi team.”

Solverdi has the distinct advantage, through utilization of its licensed technology, to produce valuable renewable byproducts--all from various wastewater materials, in turn resulting in renewable fuels, steam, and water. The Solverdi Process leverages its renewable fuels and specially engineered equipment with the use of amplified solar energy to supply electricity to an industrial or commercial building’s uninterruptable power supply.

About Solverdi Worldwide Ltd.

Solverdi Worldwide Limited is the world’s first renewable utility. It offers customers a “behind the meter” solution for generating electricity during peak utilization periods at 15 - 25% below peak rates per kilowatt hour. In addition, the Solverdi Process is used to produce steam and compressed air, and to recapture non-potable water. The Solverdi Process includes an amplified solar cracking (thermal) system that delivers renewable electricity and incorporates the use of solar and renewable fuels and utilizes a commercial building’s uninterruptable power supply and interior energy infrastructure. The average system is installed on the exterior of the building and fits inside a 10’ x 10' area. All systems are designed and supervised by professional engineers, and meet LEED standards in the U.S. The company also operates Australia’s largest capacity renewable fuel production facility, near Brisbane, Queensland, and an additional facility in Berkeley Vale, New South Wales.

Forward Looking Statements

The Information herein contains forward-looking statements that involve risks, uncertainties, assumptions and other factors, which, if they do not materialize or prove correct, could cause Solverdi results to differ materially from historical results, or those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words "planned," "expects," "believes," "strategy," "opportunity," "anticipates," and similar words. These statements may include, among others, plans, strategies and objectives of management for future operations; any statements regarding proposed new products, services or developments; any statements regarding future economic conditions or performance; statements of belief; and any statements of assumptions underlying any of the foregoing. The potential risks and uncertainties may include, but are not limited to, competition in our target markets; potential capital needs; management of future growth and expansion; risk of third-party claims of infringement; protection of proprietary information, customer acceptance of the company's products and fee structures; the success of Solverdi brand development efforts; risks associated with strategic alliances; reliance on distribution channels; product concentration; need to develop new and enhanced products; potential product defects; our ability to hire and retain qualified employees and key management personnel; and risks associated with changes in domestic and international market conditions and the entry into and development of international markets for the company's products. Solverdi assumes no obligation to update any forward-looking statement to reflect events or circumstances arising after the date on which it was made.

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