STWA, Inc., a developer of energy efficiency technologies for the oil pipeline and diesel engine markets, today announced that its chairman and CEO, Cecil Bond Kyte, will tour China and meet with government and commercial officials regarding the commercialization of the company’s Applied Oil Technology™ (AOT) oil pipeline efficiency technology.
Kyte will be joined by Ruilin Zhao, founder and CEO of Beijing Heng He Xing Ye Technology Development Co., Ltd., with which STWA recently signed a letter of intent for the licensing, sales and distribution of AOT™ into the Chinese market.
Kyte and Zhoa will co-present the AOT™ technology and detail its economic and environmental benefits to key decision makers in China’s oil pipeline industry.
“I’m fully confident in a successful commercialization of AOT™ technology in China based on a strong technological platform, shared strategic vision with STWA and the potential needs of China’s rapidly developing oil industry. These factors, together with a partnership grounded in mutual sincerity and enthusiasm, assures us of a successful outcome,” Zhao stated in the press release.
The U.S. Department of Energy recently published tests demonstrating that AOT™ is capable of reducing the amount of energy used in oil transportation by 13 percent, triggering heavy interest in STWA’s technology.
STWA and TDC believe the technology and its benefits will be of immediate interest to Chinese petroleum producers, shippers and their servicing industries as they work to meet the State Council of China’s recent mandate to reduce energy consumption 16 percent by 2015.
“TDC has been aware of our technology for some time now and they have been tracking our progress. When our U.S. Department of Energy results were published they reached out to us because they know the enormous impact AOT™ can have on China’s oil pipeline industry and the mandate to reduce its energy consumption by 16 percent,” Kyte stated. “We are in the desirable position of offering a solution that creates substantial economic benefits while also addressing the challenge to reduce energy consumption.”
Bjørn Simundson, STWA’s executive director of Program Management/Operations, said TDC approached the company after hearing about its results with the U.S. Department of Energy. TDC recognized that AOT™ could help meet China’s nationwide mandates for the oil industry.
“[TDC is] interested in using their established systems and networks to help us break into the Chinese market quickly and with legal protection on both sides of the Pacific Ocean. We are working together to form the go-forward plan and details at this time,” Simundson stated.
For more information visit www.stwa.com
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