WorldWater & Solar Technologies Announces Signing of Letter of Intent for Large Solar Farms in Spain WorldWater & Solar Technologies Corp. (OTC BB:WWAT.OB), developer and marketer of proprietary high-power solar systems, today announced that the Company has signed a Letter of Intent with M&G Promociones de Vivienda Urbana S.A., a real estate developer in Spain, to build several solar farms in Lorca (Murcia), Spain over the next five years. The contract to be negotiated will reflect plans by M&G to build three 10-MegaWatt (MW) farms over the next three years, with implementation starting in 2008 – 10MW each year – along with two 50MW farms in the fourth and fifth years. Negotiations will begin within weeks in Madrid to conclude the contract, which will be subject to conditions including financing, licensing and other commercial and permitting issues.
“This Letter of Intent represents a new phase of growth for WorldWater,” stated Quentin T. Kelly, Chairman and CEO. “WorldWater has been chosen to provide complete turnkey systems and support for these massive solar electric farms in Spain, where renewable power is expected to provide long-term energy solutions with minimal environmental impact. We look forward to announcing the final terms of this agreement and see this as a transformational event for our company – validating both our technology and leadership in the industry. We expect to incorporate the solar concentrator technologies of both ENTECH, Inc., the firm we have signed a Letter of Intent to acquire, and EMCORE Corp., the company which invested in WorldWater last year to terrestrialize its space technology, in these multi-megawatt projects.”
About WorldWater & Solar Technologies Corp:
WorldWater & Solar Technologies Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Solar Technologies Corp., visit the website at www.worldwater.com.
About M&G Promociones de Vivienda Urbana S.A.
With head offices in Madrid, M&G Promociones (CIF A81968018) is a real estate development company with principal land and housing development projects in Madrid, Valencia and Murcia provinces.
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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Dont mean to scare anyone just saying be careful especially on these huge gains.. the emails i've had in my emails are from jonto*pisoperfecto.com, drpt1*yahoo.de, and my favorite pumper bulls in advantage.
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There is a huge difference in pumps out there. some are legitimate and some are P+D.
IMO this is one is far from being a pump and dump.
SWRI was a good example of a P+D.
I am kicking myself for not looking more into this co. 3 months back when I first saw this.
As it stands I bought a few last week on a semi-dip and will continue to add as I see fit.
I don't have to watch daily and I feel comfortable holding this.
from ullnv's post. worth reading for anyone in this stock.
BTW congrats ulln for being persistent and passionate for WWAT.
WorldWater and Solar Technologies Corp: Drought-Tolerant While droughts aren't necessary for WorldWater and Solar Technologies Corp. (OTC:WWAT) to profit, the conditions out West this summer certainly won't hurt.
WWAT is a small but growing company that offers solar technologies to solve water needs for industrial and residential customers. WWAT combines its high-power solar technology with its pumps and motors, which are used in irrigation, refrigeration and cooling, and in supplying water to urban and rural areas. This combination of sun and water allows customers to deliver water with minimal energy costs.
In a region like the West, with lots of sun and lots of concerns about water supply, a company like WWAT stands to do quite well. Fortunately for WWAT and its investors, the company has a significant presence in California, and we should see its revenues grow significantly this year as a result of the conditions out there. But don't mistake this growth for a short-term aberration due to particularly bad weather; water scarcity is an ongoing issue in California and many other places in America and the rest of the world, and a company like WWAT stands to make strong profits in the coming years. Because power plants are enormous water consumers and often use steam turbines to generate electricity, they may be forced to reduce their output during severe droughts.
Moreover, droughts obviously reduce the availability of hydroelectric power, raising energy prices further. Because WWAT's solar pumps are independent of the grid system, their owners maintain the same cost of energy for their water pumping operations regardless of the drought conditions. WWAT's system is the only solar system with this capability; other grid-tied solar systems shut down when grid power is interrupted.
In addition, WWAT is seeking to develop a next generation of solar powered pumps using solar thermal technologies. Unlike photovoltaic systems, these systems focus and intensify the sun's rays with advanced mirror arrays, producing enough heat to generate steam and power from a steam turbine.
According to the company's website, On May 24, 2007, WWAT entered into a Memorandum of Understanding with Solargenix Energy, LLC. Solargenix Energy has acquired key licensing agreements, filed patents and registered trademarks on solar thermal collectors that cover operating temperatures from 120°F (48°C) to 750°F (398°C). The companies plan to jointly offer a full spectrum of solar power capabilities for industrial, residential and commercial buildings -- from lighting to heating, from driving motors and pumps to hot water supply and HVAC. It is important to note that Acciona, a major Spanish utility company in Europe, is a majority owner of Solargenix and is actively seeking to develop solar thermal power plants, particularly in the American Southwest and California where the solar conditions are most favorable.
Indeed, we've already seen the company start to grow in 2006 as the green revolution has increased interest in technologies like the ones offered by WWAT. Revenues for 2006 were five times as high as in 2005, and three times as high as in 2004. The company is growing more profitable, and it wouldn't surprise me if 2007 were a major step forward.
Type of stock: A water company with a very aggressive and ambitious management team that is addressing two of the most urgent environmental issues of our times: efficient power and water supplies.
Price target: WWAT's stock has nearly tripled since May, but it's still only trading at $1.73. It wouldn't surprise me to see this company more than double to $5 by the end of the year.
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No, everyone knows about it already. They need to increase the shares to close the Entech deal. Why do you think we are not at $5 by now? The contract was a LOI becuase it can't be official before Entech is closed. They stated they are using the Entech panels in the PR. Stick with making a couple of hundred here are there and leave the understanding to me.
-------------------- What can i say??I'm a greedy B*stard
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ullnvrknw...take a look at your name... "WE" aren't at $5 yet because so far all we have are letters of intent with the possibility to increase shares and do a RS...(aside from the airport deal) Once those deals are done...will decide where this goes...keep in mind...many buy on rumor...sell on news...
WWAT appears to be a great investment...as well as an occasional great day trade...but it is still wise to proceed with caution...particularly if people are just starting to come into this stock... Now let's have another great day!
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards!
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