SOURCE: World Health Energy Holdings, Inc.

July 20, 2011 16:05 ET

World Health Energy Holdings Inc. Announces Letter of Intent for Joint Venture With Eco Green Fuels Pvt. Ltd. for Development of Algae Farm for Biodiesel Production

Initial Production Goal of One Million Liters of Algal Oil to Eco Green Fuels

NEW YORK, NY--(Marketwire - Jul 20, 2011) - World Health Energy Holdings, Inc. (OTCQB: WHEN) (PINKSHEETS: WHEN), a public holding company developing joint venture partnerships for algae production for biodiesel and commercial fish food, announced today that the company has signed a Letter of Intent (LOI) for a comprehensive joint venture with Eco Green Fuels, Pvt Ltd. (EFG). The near term goal of the joint venture is the start up of production to a minimum capacity of providing one million liters of Algal Oil to EFG by the last quarter of 2012.

Jeremy Werblowsky, CFO of World Health Energy Holdings, said, "This is our fourth LOI in India, with two advancing to the Memorandum of Understanding (MOU) stage. The very real interest in our GNE GB 3000 system from a number of potential joint venture partners is very encouraging. WHEN is now working towards the development of algae commercial farms of 2.5 acres to 250 acres. As a frame of reference, with our proprietary algae growth enhancement technology WHEN can produce over 700,000 liters monthly on 25 acres. And as we scale up to a 250 acre project, we can produce over 7 million liters on a monthly basis."

World Health Energy Holdings, Inc. recently acquired GNE-India, an algae technology company with the distribution and licensing rights to a unique and innovative technology, the GNE GB 3000 system, to grow algae quickly and efficiently for the production of biodiesel and commercial fish food protein. GNE-India owns and retains the territorial rights for distribution and sales of the proprietary technology to both India and Sri Lanka. The company has exclusive distribution and licensing rights to the GNE GB 3000 system in India and Croatia. Earlier this year, the GB 3000 system was used to grow a combination of local algae species, as well as Chlorella, targeting the product to the fish feed and biodiesel markets.

World Health Energy Holdings, Inc. is focused on biofuels produced from algae, which boasts substantially higher yields in comparison to ethanol derived from corn, rapeseed, jatropha and palm oil. The company also works with visionary enterprises in the multi-billion dollar renewable energy arena producing progressive, broad-based solutions for better physical, nutritional and environmental health worldwide. In addition, the company is pursuing an ancillary use of algae -- the efficient production of high-protein fish feed for commercial fish farms.

Ongoing Shareholder Updates

Shareholders and interested investors who would like to be added to WHEN's corporate e-mail list are encouraged to send an e-mail to info@worldhealthenergy.com for all future corporate press releases and industry updates.

About Eco Green Fuels Pvt. Ltd. http://www.ecogreenfuels.in

Eco Green Fuels Pvt. Ltd. (EGF) is the first company in India to have established an end to end solution in the emerging market of alternative fuels through the agricultural route. The concept initiated by Julesh Bantia in 2007, has novel objectives like providing village employment, creating green patches on dry land, help corporates achieve their CSR's and also provide Bio Manure to organic farmers all over the world.

About World Health Energy Holdings, Inc.

World Health Energy Holdings, Inc. is an emerging renewable energy and biofuel company. The company will produce, sub-license and market high-quality, low cost B100 Biodiesel to replace traditional fossil fuels with proprietary algae biofuel systems. Corporate website: http://www.worldhealthenergy.com

About GNE-India, Inc. http://www.gne.bz

GNE Global Natural Energy Ltd. is an algae tech company with unique systems to grow algae commercially for energy and food. The Company was founded by top experts in the plant and algae field after several years of research and development to create affordable and viable algae biofuel systems.

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This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause World Health Energy Holdings, Inc.'s actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

Contact Information

  • Contact:

    World Health Energy Holdings, Inc.
    Investor Relations
    212-444-1019