QUEENSLAND, Australia and NEW YORK, Aug. 19, 2008 (GLOBE NEWSWIRE) -- Save The World Technologies Inc. (Other OTC:SWTG) an environmental technologies company, has entered into a Joint Venture agreement with Civilization Communications Inc (CIVCOM), headed by Hank Schwartz to establish a Bio Fuels joint venture.
As part of the joint venture, the Save The World Technologies "Super Kiri Tree" will create reforestation and be planted and intercropped to provide the feedstock for the creation of bio fuels. The fast growth nature of the Super Kiri Tree will provide an ongoing supply with harvesting expected every three to four years.
Working with Native American Tribes for the reforestation, several project sites are under joint evaluation with the first planned project encompassing approximately 18,000 acres. Using SWTG's advanced growing matrix, this can create a forest of up to 15,000,000 trees over the next three to five years.
Save The World Technologies will receive an upfront payment for each tree supplied as well as sharing in the post harvest revenue and carbon credits.
"We are excited to be working with Hank and CIVCOM to see new plantations of the Super Kiri Tree being created in the USA," said SWTG CEO Mr. Tindall. "The company has spent many years developing the proprietary lab and growing matrix for the Super Kiri Tree, it is great to see projects in the United States and Australia now taking shape."
The Super Kiri Tree was developed by the company to provide an alternative to the continual depletion our natural resources and old forests.
Following each Super Kiri Tree plantation harvesting, the tree re-grows from the stump and root structure, creating a renewable resource.
Our solution creates fast growing re-forestation projects, which provide large positive environmental impact through delivering fast growing timber, large green house gas sequestration (absorption) and diverse usage post harvesting.
Current project targets include the use of younger trees in continual cyclic harvesting for bio-fuel projects, coal mine site rehabilitation and large timber supplies to a wide range of industries.
About Save The World Technologies Inc.
Save The World Technologies Inc. works with inventors, engineers, technicians and marketers to create a cleaner and safer world through incubation, development, production and marketing of products for a sustainable future. The company's core projects include an All Air Engine, Super Kiri Tree and Electric Commuter Vehicle. For more information please visit www.swtg.us or www.swtg.com.au
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Any statements set forth above that are not historical facts are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, such factors as market acceptance, ability to attract and retain customers and joint venture partners, success of marketing and sales efforts, product performance, competitive products and pricing, growth in targeted markets, risks of foreign operations, and other information detailed from time to time in the Company's filings with the United States Securities and Exchange Commission