SANTA BARBARA, CA -- (Marketwired) -- 06/23/15 -- Save The World Air, Inc., d/b/a STWA (the "Company") (OTCQX: ZERO), a developer of integrated technology solutions for the energy industry, held its annual meeting of stockholders on June 19, 2015, during which all resolutions put to the meeting were adopted.
Greggory Bigger, Charles Blum, Nathan Shelton, Mark Stubbs, Don Dickson and Thomas Bundros were elected to the Company's Board of Directors. The stockholders also ratified the Company's appointment of Weinberg & Co., P.A., to serve as the Company's independent auditors for the year ending December 31, 2015. After the meeting, the Board appointed Messrs. Blum, Shelton, Stubbs and Bundros to serve on the Company's Audit Committee. Messrs. Blum and Shelton were also appointed to serve on the Company's Nominating and Corporate Governance Committees, and Messrs. Dickson, Stubbs, Shelton and Blum were appointed to serve on the Company's Compensation Committee.
Greggory Bigger, STWA Chairman and Chief Executive Officer commented, "I am thrilled with the resounding success of our shareholder meeting. On behalf of our executive management team and Board of Directors, I'd like to express our sincere gratitude to our loyal shareholders for their continued support, the majority of whom voted to pass very meaningful and important initiatives for our Company. I also want to specifically point out our many international shareholders who have been so supportive, and let them know that we may look at the opportunity to bring the meeting to London or Sydney in the future. I look forward to continuing discussions, and to providing shareholders with updates on our progress as material events occur."
The ongoing development, testing, manufacture and commercialization of the Company’s Applied Oil Technology™ (AOT™) and STWA Joule Heat™ (SJH™) crude oil viscosity reduction systems were discussed during a presentation to shareholders at the meeting, including:
- Placement of the AOT system on a major North American crude oil and condensate pipeline;
- Expanded global reach for AOT seeking deployment with six pipeline operators in the Middle East, Europe, Africa and Canada;
- Established an alliance with Energy Tech Africa (ETA), and together with ETA submitted a proposal for AOT deployment in the Persian Gulf of Iraq, and in Algeria;
- Deployed commercial SJH prototype in the Greater Monument Butte oilfield in the Uintah Basin of Utah;
- Testing operations moving forward with the largest midstream operator in the U.S.; and
- Strengthen the balance sheet and provide additional financing instruments to expedite the commercialization strategy for AOT and SJH, and to move on a bifurcated growth strategy through synergistic M&A, targeting complementary technologies as well as operating teams.
Mr. Bigger continued, "I'm also very happy to report that the board of directors and executive management had the opportunity to work together over the weekend regarding many of the top priorities and initiatives that will spearhead STWA through the remainder of 2015 as well as 2016. We continue to execute a multiphase strategy for enhancing shareholder value by moving both AOT and STWA Joule Heat from the lab to the field, while developing additional, innovative technologies to further expand our global reach. Given our products' ability to improve throughput, lower operational costs and enhance sustainability, we expect ongoing opportunities to deploy our technology for today's efficiency-minded energy industry."
For further information about STWA, please visit www.stwa.com, read our SEC filings at https://ir.stockpr.com/stwa/all-sec-filings and subscribe to our Email Alerts at https://ir.stockpr.com/stwa/email-alerts to receive company news and shareholder updates.
Safe Harbor Statement:
Some of the statements in this release may constitute forward-looking statements under federal securities laws. Please visit the following link for our complete cautionary forward-looking statement: http://www.stwa.com/site-info/disclaimer
About Save the World Air, Inc. d/b/a STWA
Save The World Air, Inc. (STWA) (OTCQX: ZERO) provides the global energy industry with patent-protected industrial equipment designed to deliver measurable performance improvements to crude oil pipelines. Developed in partnership with leading crude oil production and transportation entities, STWA's high-value solutions address the enormous capacity inadequacies of domestic and overseas pipeline infrastructures that were designed and constructed prior to the current worldwide surge in oil production. In support of our clients' commitment to the responsible sourcing of energy and environmental stewardship, STWA combines scientific research with inventive problem solving to provide energy efficiency 'clean tech' solutions to bring new efficiencies and lower operational costs to the upstream, midstream and gathering sectors. More information is available at: www.stwa.com.
Save the World Air, Inc. d/b/a STWA
Tel: +1 805 845-3581
Investor Relations & Media Contact
M Group Strategic Communications
Tel: +1 212 266 0191
Source: Save The World Air, Inc.