ST. PETERSBURG, Fla., July 25, 2007 (PRIME NEWSWIRE) -- World Energy Solutions, Inc. (OTCBB:WEGY), a company focused on energy conservation technologies and environmental sustainability, announced that additional money has been allocated for the enlargement and expansion of the company's Research and Development facility in St. Petersburg, Florida.
The expansion will enable WES to accommodate large vehicles for the installation of the company's proprietary fuel additive systems, principally the hydrogen/oxygen additive to diesel engines. Additionally, World Energy Solutions' expansion will enable the company to carry out the manufacturing of large technical hardware without having to sub-contract component manufacturing. The expansion will include the acquisition of a range of machine tools and associated ducting and electrical supplies. The first new machine tools are expected to be delivered and commissioned by the end of July, 2007. The rearrangement of the laboratory will be completed by mid August, 2007.
Management expects that the expanded R&D facility will significantly increase the speed of production of components for new product prototypes. Additionally, the specification of component parts can be made more exact and the new plant and machinery will enable the laboratory staff to work to higher manufacture tolerances than would be possible with outsourced components.
Ben Croxton, CEO of World Energy Solutions, Inc., stated, "WES management hopes to create a more efficient production environment for the development of new components. We anticipate there will be significant cost and time savings, as well as the production of higher quality parts.
Recently Reported News
World Energy Solutions (WES) has begun retrofitting a new 2007 Ford F-650 with the company's proprietary hydrogen/oxygen system to reduce the truck's fuel consumption and harmful emissions. The company has entered the diesel engine market to capture the strong commercial demand for the company's proven hydrogen/oxygen (HHO) powered internal combustion engine technology. The expansion of the WES R&D facility is anticipated to speed up this development.
About World Energy Solutions, Inc. (WES)
World Energy Solutions, Inc. (OTCBB:WEGY) is an Energy Services Company and electronics manufacturer. WES's primary business focus is the development of technology for lowering electrical, gas and water usage for commercial, government and residential facilities. For more information about WES please visit its website at www.wesinc.net.
Forward-Looking Statements
Certain matters discussed in this press release are 'forward-looking statements.' These forward-looking statements can generally be identified as such because the context of the statement will include words such as 'expects,' 'should,' 'believes,' 'anticipates' or words of similar import. Similarly, statements that describe World Energy Solutions' future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of World Energy Solutions, which could cause actual results to differ materially from those currently anticipated. Although World Energy Solutions believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and World Energy Solutions does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.