House Approves the 'American Clean Energy and Security Act of 2009,' the Most Sweeping Energy Reform Package in Decades
STWA Reviewing Viability of Stimulus Funds for Its ELEKTRA™ and MagChargR™ Product Manufacturing; Department of Energy (DOE) Announces $256 Million Investment to Improve the Energy Efficiency of the American Economy
SANTA BARBARA, CA--(Marketwire - June 30, 2009) - Save the World Air, Inc. (
"Recently the Obama administration proposed sweeping new fuel economy standards for passenger cars and light trucks, and with the passage of the American Clean Energy and Security Act of 2009 through the house recently, it is likely that this legislation will become law," stated Mr. Cecil Bond Kyte, Chairman and CEO of Save The World Air, Inc. "Now, U.S. Department of Energy (DOE) Secretary, Dr. Steven Chu has announced plans to provide $256 million from the American Recovery and Reinvestment Act to support energy efficiency improvements in major industrial sectors throughout our economy. Funding is targeted at reducing the energy consumption of U.S. manufacturing and information technology industries, while creating jobs and stimulating economic growth."
At a press conference President Obama was quoted as saying, "... you take a look at the national fuel efficiency standard that we put into place -- I think it's fair to say that over the first six months we've seen more action on shifting ourselves away from our dependence on foreign oil and fossil fuels than at any time in several decades."
Mr. Kyte added, "STWA is perfectly positioned to respond to this, as our products address these issues directly. We plan to manufacture in the U.S., and as it is the DOE's intention to help create manufacturing jobs quickly, along with jobs for technicians and experts who will be needed in the long-term to maintain and operate the new equipment, we believe STWA can help lead the way with its ELEKTRA technology."
The DOE will support research, development, and demonstration projects for advanced industrial materials that can be used in fuel flexibility programs, combined heat and power technologies, energy intensive processes, and nanomaterials and nanomanufacturing. This project is intended to help the U.S. industrial sector increase competitiveness, while rapidly introducing advanced technologies.
Secretary Chu was quoted as saying, "Supporting the development of the latest industrial technologies plays an important role in helping U.S. industry to lead the world in energy efficiency and productivity." He added, "Working together with American manufacturing and IT industries, we will be able to create new jobs, reduce industrial energy use and limit damaging greenhouse gas emissions."
For more information on these opportunities and to view the Funding Opportunity Announcements visit: www.energy.gov/recovery.
About Save The World Air, Inc.
Save The World Air, Inc. develops and licenses patented and patent pending flux field pollution control and performance improvement technologies, including the ELEKTRA, ZEFS and MKIV, which have been scientifically tested and proven to significantly reduce harmful exhaust emissions, improve performance and enhance fuel economy. The products have been engineered to serve as either stand alone pollution control systems or can be used (in conjunction with catalytic converters) to create a more effective total pollution control system that not only reduces harmful emissions, but also decreases greenhouse gases, improves fuel efficiency and boosts performance.
More information including a company Fact Sheet, logos and media articles are available at: http://www.irthcommunications.com/clients_ZERO.php, and at: http://www.magchargr.com.
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Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Released June 30, 2009