Located in Santa Barbara, California, Save The World Inc. (“STWA”) has quickly earned a reputation in their sector as a pioneering company known for creating technology focused on energy efficiency of large-scale energy production and improved fuel economy for diesel fleets. Today, STWA announced they have signed a new exclusive licensing agreement with Temple University.
The new licensing agreement will reflect updated technologies and terms covering intellectual property related to the corporation’s products. The agreement provides for a convergent, non-divisional relationship with Temple University based largely on the grant of exclusive rights and co-ownership of future Intellectual Property (IP) through co-development.
STWA completed its final adjusted payment to Temple University on March 28 which will cover obligations for its Applied Oil Technology (AOT) for crude oil viscosity reduction and ELEKTRA for improved diesel engine efficiency, and began negotiations with Temple to execute new licensing agreements. This may be a sign of even bigger things on the horizon for STWA.
Leading the team at STWA is Mr. Cecil Bond Kyte whom serves as the Chairman and CEO of the emerging company. Bond Kyte stated, “We worked closely with Temple University through the challenges and delays we inherited years ago, culminating today in this mutually-beneficial agreement. The success of our accomplishments is largely based on the professionalism, moderation and resolution skills of Temple University’s Office of Technology Development and Commercialization, allowing both parties to benefit greatly.”
Mr. Kyte added, “This marks yet another significant milestone reached in the last six months. We are currently full-scale testing our AOT with the U.S. DOE and are currently exploring marketing and industry partners for full commercialization of our product. We would not be where we are today without the support of Temple and our partners.”
Currently, STWA is trading in the $0.25 range. To learn more about this press release or the company as a whole, visit STWA’s corporate website at: www.stwa.com
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