Clean Water Solution Corp. Receives $500,000 Funding for Production
Business Editors/Utilities Writers
BAKERSFIELD, Calif.--(BUSINESS WIRE)--Dec. 1, 1999--
Spectrum-Arabieh Inc. (OTCBB:SPUM) has received $500,000 in investment
funding from BKR Partners of Dallas.
Funds will be used for commercial production and to continue
sales efforts of Spectrum's revolutionary water treatment technology.
Spectrum-Arabieh offers The Clean Water Solution for the world.
Its new desalination technology produces fresh drinking, irrigation
and sanitation water from the ocean at a fraction of the economical
and environmental costs associated with reverse osmosis.
Visit www.spectrum-arabieh.com for more information.
The $500,000 bridge investment was selected from several offers
made to the company stemming from the Oct. 28, 1999, Business Wire
news release announcing technology and importation approval from the
Kingdom of Saudi Arabia.
Approval from scientists at the Saudi Arabian Desalination
Research Institute verifies the effectiveness of Spectrum's water
treatment technology, and it allows the company to import desalination
production plants into Saudi Arabia.
"This funding will enhance our sales efforts, enable us to begin
assembling pilot plants, and gear up for full-scale commercial
production," stated Sam J. Higgins, chairman and chief executive
officer. He noted that excitement, interest and media exposure have
increased since the Saudi approval announcement.
Higgins also confirmed that Spectrum has had numerous new funding
offers from investment groups and investment bankers around the world.
Negotiations for technology right options and joint venture plant
production programs are now being pursued.
Spectrum-Arabieh, a technology development and marketing company,
is dedicated to providing abundant clean water to the world at a very
low, economical and environmental cost. It is now in the process of
bringing its clean water solution to the thirsty desert lands of the
Middle East and the Arabian Gulf.
The company's breakthrough water treatment process, PIMA
(Photonic Ionization, Manipulation and Augmentation) Desalination
Technology, achieves molecular modification of seawater through the
use of lasers and photonics. The PIMA process produces fresh, clean,
usable water from the ocean without heat, high pressure or toxic
chemicals.
Forward-looking statements, if any, in this release, are made
pursuant to the "Safe Harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that such
forward-looking statements involve risks and uncertainties, including,
without limitation, continued acceptance of the company's products,
competition, new products and technological changes, intellectual
property rights and other risks. Visit www.spectrum-arabieh.com for
more information.
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CONTACT: Spectrum-Arabieh Inc.
Mona Qamar, 877/321-1228 (public relations)
mqamar@spectrum-arabieh.com
or
Corporate information hotline, 661/328-5628 |
