SANTA BARBARA, CA--(Marketwire - Nov 21, 2011) - Ensuring continued rights to its platform technology, STWA, Inc. (OTCBB: ZERO) ("STWA" or the "Company"), an innovative company creating technology focused on energy efficiency of large-scale energy production and improved fuel economy for diesel fleets, announced today that is has delivered the second of three scheduled license payments to Temple University per its two exclusive worldwide licensing agreements executed on August 9, 2011.
The exclusive licensing agreement covers STWA's Applied Oil Technology (AOT™) crude oil viscosity reduction technology and ELEKTRA™ for improved diesel engine efficiency, as well as future advancements to the technology through collaborative R&D between STWA and Temple University.
"Since the execution of our new exclusive worldwide licensing agreement with Temple University in August, we have delivered on our licensing payments, as well as a major development milestone by proving, as reported by the U.S. Department of Energy, AOT™ increases pipeline efficiencies by 13.14% to 13.55% when AOT™ was running at just one-third of its intended power capacity," stated STWA Chairman and CEO Mr. Cecil Bond Kyte. "We are moving forward with our next development milestones and look forward to continuing our very productive collaboration with Dr. Tao, Chairman of Temple University's Physics Department, and Temple's office of Technology Development and Commercialization."
Stephen G. Nappi, Director of Technology Development and Commercialization at Temple University added, "We are pleased with STWA's ability to advance the applied oil and fuel injection technologies beyond the laboratory setting to field-based proof-of-concept. In addition to achieving these significant development milestones, including the favorable results reported by the U.S. Department of Energy's Rocky Mountain Oilfield Testing Center, STWA continues to fulfill its obligations under our exclusive license agreements. We look forward to building from this momentum to optimize performance of these technologies and ready them for deployment in the marketplace."
About STWA, Inc.
STWA, Inc. (OTCBB: ZERO) is an innovative company creating technology focused on energy efficiency of large-scale energy production and improved fuel economy for diesel fleets. The Company's Patented and Patent Pending technologies, including AOT™ (Applied Oil Technology), under development with Temple University, and ELEKTRA™ (for Improved Diesel Engine Efficiency), provide efficient and cost-effective means of improving the efficacy of crude oil transport and diesel engine efficiency to assist in meeting global increasing energy demands and emission quality standards. Applications include: (AOT™) Crude oil extraction & delivery systems, including oil platforms, oil fields and pipeline transmission systems. (ELEKTRA™) Diesel trucks, trains, marine vessels, military fleets and jet turbines.
More information including a company Fact Sheet, logos and media articles are available at: http://www.stwa.com.
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.