SANTA BARBARA, CA -- (Marketwired) -- 06/29/15 -- Save The World Air, Inc., d/b/a STWA (the "Company") (OTCQX: ZERO), a developer of integrated technology solutions for the energy industry, today announced that it has entered into an exclusive agreement with Norrønt AS ("NAS") whereby NAS will have sole distribution rights for the Company's Applied Oil Technology™ (AOT™) to energy infrastructure in Norway.
NAS' exclusive distribution agreement for the Norwegian energy industry provides STWA with comprehensive access to a target market in which its technologies have never before been deployed. NAS is currently engaged in discussions with various midstream entities operating in Norway, and is specifically targeting a new, major pipeline for AOT deployment. STWA and NAS also plan to combine the expertise of their respective engineering teams to modify AOT for subsea implementation. This would be the first time that STWA's technology would be engineered for subsea use, representing an opportunity to penetrate a major segment of the global energy industry.
Greggory Bigger, STWA Chief Executive Officer and Chairman, commented, "We are excited to be working with an energy consulting and engineering firm as reputable as Norrønt AS, and to gain unparalleled access to the Norwegian market. We are grateful to NAS for their aggressive marketing of our AOT technology and collaborative development into the subsea pipeline sector, which has been an untapped market for the Company. As we continue to make strides in moving from R&D to commercialization, we believe that this partnership will lead to ongoing AOT deployments that could result in substantial financial benefit for STWA and our shareholders."
As a multidisciplinary consulting firm, Norrønt AS provides services in project management, technical consulting and engineering, and more. The firm strives to implement innovation, energy-efficient design and sustainable solutions. Its professional staff, which includes many employees with master's degrees and PhD's in engineering and science, possesses a diverse range of experience in project management and industrial engineering. NAS provides research and development support for its partners, and specializes in improving efficiencies for oil and gas infrastructure, subsea engineering, and offshore operations.
Dag Zeiner-Gundersen, Norrønt AS Founder and Principal, commented, "We seek to offer and support innovative technologies that increase operational efficiencies for the energy industry, while promoting green development of conventional energy. As such, we foresee deep synergies with STWA, its technology and management team. We are proud to bring AOT, and its unique approach to flow assurance for crude oil pipelines, to the Norwegian midstream market. Our engineering staff is looking forward to working with STWA's technical team for enhancements to the technology, specifically in regards to its potential first implementation on a subsea line. Discussions are underway with various entities for potential AOT deployment in Norway, and we hope to bring mutual success for both companies through multiple contract wins."
Mr. Bigger concluded, "The opportunity to enter the Norwegian energy market, and simultaneously to enhance AOT for the subsea sector, is another critical step forward for STWA as we expand our technology offerings and business development initiatives. We look forward to deploying our cutting-edge viscosity reduction solutions for more efficient feedstock transport in Norway. I expect that working alongside NAS' highly accomplished engineering team will lead to enhancements to our technology for additional AOT applications, providing STWA with the opportunity to solve flow assurance problems for new market segments. We look forward to a fruitful and lasting partnership with NAS, which will be a critical ally as we increase our global reach and continue down the path to commercialization."
For further information about STWA, Inc., visit www.stwa.com, read our SEC filings at https://ir.stockpr.com/stwa/all-sec-filings and subscribe to Email Alerts at https://ir.stockpr.com/stwa/email-alerts to receive company news and shareholder updates.
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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
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Source: Save the World Air, Inc.