Arrow Resources Development, Inc. (OTCBB: ARWD) (herein "Arrow") has entered into a Memorandum of Understanding with Four Crystal Funding, Inc. (herein "Four Crystal") and GTherm Inc. (herein "GTherm") for Four Crystal to invest $10,000,000 at a price of $1.00 per share of Arrow common stock. Arrow has further agreed to have geothermal power plants, employing the GTherm technology, built and operated on its properties in Indonesia. GTherm has agreed to build and maintain up to two hundred 50 mega watt (MW) geo-thermal power plants using the GTherm technology. GTherm, Inc. has developed an advanced, patent-pending Single Well Engineered Geothermal System(TM) ("SWEGS") that eliminates many of the limiting factors present with current water-based Enhanced Geothermal Systems. The first geothermal Plant will be in Kendari, Southeast Sulawesi for the use of PT. Tiga Daun Nusantara, Arrow's joint venture partner, on the initial plantation site. GTherm technology uses proven components developed and tested at the US Department of Energy and by United Technologies Corporation and is cost competitive with conventional fossil fuel electric power generation technologies.
The site for the initial geothermal 50 MW plant was chosen to coincide with the site of Arrow Resources Development, Inc. and PT. Tiga Daun Nusantara large scale plantation/farming and ethanol plants in Indonesia. This will be the initial site to showcase the patented technology of the Geothermal Plant as well as provide the energy for the Agriculture and later Ethanol project of Arrow and PT. Tiga Daun Nusantara. The remainder of the energy not utilized by PT. Tiga Daun Nusantara will be sold to PT. Perusahaan Listrik Negara (PLN) to provide an alternative, environmentally friendly renewable energy to the surrounding area which has been plagued with an inconsistent electricity supply.
For more information about the company, please visit their website at www.arrowrd.com.
About Arrow Resources Development, Inc.
Arrow Resources Development, Inc. develops and coordinates corporate operations, finance, sales and marketing activities along with the administration of the corporate citizenship programs for natural resource development companies in the Asian market. Its initial relationship with Arrow Pacific Resources Group Limited (BVI Company) is for the development of large scale plantation and farming operations in Indonesia. Arrow has signed a similar agreement with Gerakan Masyarakat Pelestari Lingkungan Hidup (GMPLH), and GMPLH's joint venture partner, PT. Tiga Daun (Indonesian company owned by Arrow Pacific) for the large scale plantation/farming and ethanol plants in Indonesia. Arrow's agreements entitle the Company to 10% of all gross revenue generated by all their partners' plantation/farming including any and all sales of natural resources and derivative products. For more information about the company, please visit their website at www.arrowrd.com.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
Contact: Arrow Resources Development, Inc. Investor Relations Email Contact
-------------------- a little at a time turns a penny to a dime! Posts: 303 | From: lake charles | Registered: May 2006
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