House Approves the 'American Clean Energy and Security Act of 2009,' the Most Sweeping Energy Reform Package in Decades
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SANTA BARBARA, CA, Jun 30 (MARKET WIRE) --
Save the World Air, Inc. (OTCBB: ZERO), an innovative pioneer in the clean
technology industry focused on energy efficiency and air quality issues,
has begun the process of reviewing grant funding available under the
American Recovery and Reinvestment Act of 2009. The Act allocates $256
million for three main areas of concentration, one of which includes
Advanced Materials in Support of Advanced Clean Energy Technologies and
Energy-Intensive Processes, which has been allocated $50 million.
"Recently the Obama administration proposed sweeping new fuel economy
standards for passenger cars and light trucks, and with the passage of the
American Clean Energy and Security Act of 2009 through the house recently,
it is likely that this legislation will become law," stated Mr. Cecil Bond
Kyte, Chairman and CEO of Save The World Air, Inc. "Now, U.S. Department
of Energy (DOE) Secretary, Dr. Steven Chu has announced plans to provide
$256 million from the American Recovery and Reinvestment Act to support
energy efficiency improvements in major industrial sectors throughout our
economy. Funding is targeted at reducing the energy consumption of U.S.
manufacturing and information technology industries, while creating jobs
and stimulating economic growth."
At a press conference President Obama was quoted as saying, "... you take
a look at the national fuel efficiency standard that we put into place --
I think it's fair to say that over the first six months we've seen more
action on shifting ourselves away from our dependence on foreign oil and
fossil fuels than at any time in several decades."
Mr. Kyte added, "STWA is perfectly positioned to respond to this, as our
products address these issues directly. We plan to manufacture in the
U.S., and as it is the DOE's intention to help create manufacturing jobs
quickly, along with jobs for technicians and experts who will be needed
in the long-term to maintain and operate the new equipment, we believe
STWA can help lead the way with its ELEKTRA technology."
The DOE will support research, development, and demonstration projects for
advanced industrial materials that can be used in fuel flexibility
programs, combined heat and power technologies, energy intensive
processes, and nanomaterials and nanomanufacturing. This project is
intended to help the U.S. industrial sector increase competitiveness,
while rapidly introducing advanced technologies.
Secretary Chu was quoted as saying, "Supporting the development of the
latest industrial technologies plays an important role in helping U.S.
industry to lead the world in energy efficiency and productivity." He
added, "Working together with American manufacturing and IT industries, we
will be able to create new jobs, reduce industrial energy use and limit
damaging greenhouse gas emissions."
For more information on these opportunities and to view the Funding
Opportunity Announcements visit: www.energy.gov/recovery.
About Save The World Air, Inc.
Save The World Air, Inc. develops and licenses patented and patent pending
flux field pollution control and performance improvement technologies,
including the ELEKTRA, ZEFS and MKIV, which have been scientifically
tested and proven to significantly reduce harmful exhaust emissions,
improve performance and enhance fuel economy. The products have been
engineered to serve as either stand alone pollution control systems or
can be used (in conjunction with catalytic converters) to create a more
effective total pollution control system that not only reduces harmful
emissions, but also decreases greenhouse gases, improves fuel efficiency
and boosts performance.
More information including a company Fact Sheet, logos and media articles
are available at: http://www.irthcommunications.com/clients_ZERO.php, and
at: http://www.magchargr.com.
Follow STWA on Twitter: http://www.twitter.com/stwainc
Follow STWA on Facebook: http://www.facebook.com/group.php?gid=50849493541
Safe Harbor Statement
This press release contains information that constitutes forward-looking
statements made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Any such forward-looking
statements involve risks and uncertainties that could cause actual results
to differ materially from any future results described within the
forward-looking statements. Risk factors that could contribute to such
differences include those matters more fully disclosed in the Company's
reports filed with the Securities and Exchange Commission. The
forward-looking information provided herein represents the Company's
estimates as of the date of the press release, and subsequent events and
developments may cause the Company's estimates to change. The Company
specifically disclaims any obligation to update the forward-looking
information in the future. Therefore, this forward-looking information
should not be relied upon as representing the Company's estimates of its
future financial performance as of any date subsequent to the date of this
press release.
IRTH Communications, LLC
Mark B. Moline
Managing Partner
760-458-4899
Email Contact
http://www.irthcommunications.com
http://www.twitter.com/irthcomm
Save The World Air, Inc.
Charles R. Blum
President
323-932-7040
Copyright 2009, Market Wire, All rights reserved.
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