PENNINGTON, N.J., Jan. 11, 2006 (PRIMEZONE) -- WorldWater & Power Corp. (OTCBB:WWAT), developer and marketer of proprietary high-power solar systems, today announced it has engaged legal counsel to seek delisting of the Company's stock on the Berlin Stock Exchange.
"We believe that the listing of WorldWater & Power Corp. stock on the Berlin Exchange does not benefit the Company or its shareholders, and are therefore taking the necessary steps to remove the Company from this exchange," stated Quentin T. Kelly, Chairman and Chief Executive Office of WorldWater & Power.
"There are so many positive things occurring at WorldWater," Kelly continued, "including strong demand for our product and services as demonstrated by our current backlog, the expectation of 2006 revenue between $25 million and $35 million, and the acquisition of Quantum Energy Group to better position the Company to handle the emerging implementation volume."
The Company's common stock will continue to trade on the Frankfurt Stock Exchange, Mr. Kelly said.
About WorldWater & Power Corp:
WorldWater & Power Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Power Corp., visit the website at www.worldwater.com. Information about Quantum Energy Group is available at www.quantumenergygroup.com.
Forward Looking Statement
Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB and its quarterly reports on Form 10-QSB both as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission.
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