22th July, 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.
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