NEW YORK, NY -- (Marketwire) -- 12/21/11 -- 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 the signing of Letter of Intent with Prime Inc., an India Industrial and transport Company, to develop a biodiesel production facility ramping up to 250 acres with a budget of up to 100 million dollars.
The proposed sites for development are in Tamil Nadu and Karnataka, India and will utilize an Algae Enhancement Technology, known as the GB3000 system, used for growing algae for the production of Fish Feed, Proteins and Bio-fuel in the Territory of India. Prime Inc. India's current clients include: Exon, Shell, General Electric (GE) and Siemens.
Liran Kosman, CFO of World Health Energy, said: "We look forward to working with Prime Inc. India in the design, development and support of a cost-efficient algae production farm. We anticipate scaling up operations and completing a number of significant algae projects in 2012."
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.
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About World Health Energy Holdings, Inc.
World Health Energy Holdings, Inc. is an emerging algae for food and renewable energy 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.
Original article: http://www.sys-con.com/node/2108849