Save the World Air Receives First Order From Golden Allied for China
LOS ANGELES, CA -- (MARKET WIRE) -- July 27, 2006 -- Save the World Air, Inc. ("STWA") (
This order fulfills the first part of the distribution agreement, signed with GAE earlier this year, in which the initial order is to be placed by July 31, 2006. The distribution agreement requires GAE to purchase 11,500,000 devices over a five-year period in order to remain STWA's exclusive distributor in China. The placing of the first order with GAE is a significant milestone for STWA as it marks the Company's transition to generating revenues through the commercial sale of its devices.
Bruce McKinnon, President of STWA, commented, "We are excited about this watershed event. Our team has worked very hard over the years to develop products that fulfill the need to reduce hazardous emissions from the air, while improving fuel efficiency and engine performance. Finally we are able to bring these products to market and start generating revenue. We intend to continue to target both the OEM and retail markets as we continue increasing our sales and marketing efforts throughout this year and in the future."
John Bakalian, President of GAE, added, "Today marks a big day in the history of STWA and GAE. We have placed our first order for STWA products. The ZEFS™ devices will be sold throughout China. We are seeing strong interest in all STWA devices and anticipate exceeding our projected minimums for the first year and the years thereafter. The cooperation between STWA and GAE will allow us to aggressively penetrate the Chinese market and we are very optimistic about our future business together."
About Save the World Air, Inc.
Save the World Air, Inc., is currently engaged in the product development, initial sales and marketing of devices using proprietary technologies that can be installed on motor vehicles, motorcycles and stationary engines to reduce harmful emissions caused by internal combustion engines. The company's patented ZEFS devices have been shown to reduce harmful emission, improve both fuel efficiency and enhance engine performance in repeated independent laboratory testing. The company's patent-pending CAT-MATE devices have been shown to reduce harmful emissions in repeated independent laboratory testing. For more information, visit the company's website at www.stwa.com.
About Golden Allied Enterprise
GAE specializes in assisting U.S. companies develop business opportunities in China, through a network of U.S. and Chinese businessmen, investment bankers and politicians in both countries. Through one of its Chinese advisors, GAE has been deeply involved in Shanghai Volkswagen, the first and largest automobile joint venture in China, as well as United Automotive Electronic Systems, Ltd., a German-Chinese joint venture that became the largest auto parts manufacturing company in China. GAE has offices in Shanghai and Santa Cruz, California.
Safe Harbor Statement
The statements contained herein, which are not historical, are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, the company's filings and future filings with the Securities and Exchange Commission, including those set forth in the company's Annual Report on From 10-KSB for the year ended December 31, 2005.
Released July 27, 2006