ELGT .96........sitting just below a buck on 10,000 vol...needs a little push to break 1.00....it will come sooner rather than later as Lockheed has a keen appreciation for the Watermaker and what it can do and there is a huge need for it for our troops spread all over the world in some pretty rough places:
(COMTEX) B: ELGT Subsidiary Atmospheric Water Technology ('AWT') Signs E
B: ELGT Subsidiary Atmospheric Water Technology ('AWT') Signs Exclusive
Agreement With Lockheed Martin
DALLAS, Nov 19, 2002 /PRNewswire-FirstCall via COMTEX/ -- Electric & Gas
Technology, Inc. (OTC Bulletin Board: ELGT) ("ELGT") today amplifies on the
previously announced signing of an agreement with a major defense contractor,
announcing that Lockheed Martin will act as ELGT's exclusive partner for
delivering the WATERMAKER(TM) Solution Portfolio to the United States Federal,
State and Local Governments and Military locations worldwide. The WATERMAKER(TM)
Solution produces healthy, purified drinking water from the "atmospheric air we
breathe."
In explaining the importance of this relationship Cynthia Sailar, Vice President
of LMDT commented, "Lockheed Martin Distribution Technologies is very excited
that we have signed the agreement. We are committed to ELGT and its product
suite." Lockheed Martin's initial thrust will be into the United States Federal,
State and Local Governments and Military locations around the world.
According to S. Mort Zimmerman, Chairman of the Board of ELGT, the relationship
is a validation of the U.S. patent and copyrighted technology that ELGT has
created. "We have always believed that our technology for converting air into
water has a special place in assisting people and countries around the world who
are in need of purified drinking water. The United Nations has designated the
year 2003 as the 'Year of Fresh Water' to emphasize the urgent need for healthy
purified water throughout the World. The agreement with Lockheed Martin will
facilitate our intent to bring this technology to market. Lockheed Martin is a
respected and highly recognized company in the government and defense sector and
has the professional leadership we have been seeking to distribute our
technology globally. We are looking forward to a long term successful
relationship with Lockheed Martin."
The WATERMAKER(TM) technology is a unique electronic system that produces clean
water without connection to any source of water other than that suspended as
vapor in air. ELGT's WATERMAKER(TM) technology originated through the issuance
and receipt of U.S. Patents in 1981 and 1996 and is further supported through
two additional patents pending and copyrights. The scaleable technology produces
from 5 to 10,000 gallons of pure water per day. Large metropolitan solutions can
produce up to 2,000,000 gallons per day and when installed with an automatic
bottling facility will produce 3,780,000 two (2) liter bottles per day utilizing
only electricity. The systems can be fabricated and installed in 90 to 120 days.
ELGT advised that statistically the amount of water which continuously
re-circulates in the Earth's atmosphere is approx. 13,000 trillion cu meter or
more than 3 million trillion gallons or 11.3 million trillion liters.
ELGT has installations currently in Dallas, Texas, Saudi Arabia, U.A.E., Egypt
and Pakistan.
About Lockheed Martin Distribution Technologies
Lockheed Martin Distribution Technologies, Owego, NY, is a business unit of
Lockheed Martin Systems Integration - Owego, which is a business segment of
Lockheed Martin Corporation, Bethesda, Maryland. LMDT designs, produces, and
integrates mail automation, material handling, recognition and information
processing systems for postal services, package delivery operations, and
corporate mail centers as well as distribution, fulfillment, and manufacturing
centers worldwide.
About Electric & Gas Technology, Inc.
Electric & Gas Technology, Inc. ("ELGT") was organized under the laws of the
State of Texas on March 18, 1985, to serve as a holding company for several
operating subsidiary businesses. Atmospheric Water Technology, Inc. ("AWT") a
subsidiary of ELGT incorporated in June 1997, was created to focus on the
opportunities in the water industry. Other ELGT businesses include Reynolds
Equipment Company that provides a broad line of precision instrumentation to the
natural gas industry, Hydel, Ltd. that designs and sells meter sockets and pole
line hardware to the electric utility industry, and Logic Metals, Inc. an
affiliated manufacturer of precision sheet metal applications.
SAFE HARBOR INVESTMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF
1995.
This press release contains forward-looking information within the meaning of
Section 29A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. Forward-looking statements include statements concerning
plans, objectives, goals, strategies, future events or performances and
underlying assumption and other statements, which are other than statements of
historical facts. Certain statements contained herein are forward-looking
statements and, accordingly, involve risks and uncertainties, which could cause
actual results, or outcomes to differ materially from those expressed in the
forward-looking statements. The Company's expectations, beliefs and projections
are expressed in good faith and are believed by the Company to have a reasonable
basis, including without limitations, management's examination of historical
operating trends, data contained in the Company's records and other data
available from third parties, but there can be no assurance that management's
expectations, beliefs or projections will result, or be achieved, or
accomplished.
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SOURCE Electric & Gas Technology, Inc.
CONTACT: Dan Zimmerman, Executive Vice President of Electric & Gas
Technology, Inc., +1-972-272-3424, or elgt@elgt-amti.com ; or
Petruzella, CEO of Netbreeze, Inc., +1-972-929-5100, for Elec
Technology, Inc.
URL: elgt-amti.com
prnewswire.com
ELGT Subsidiary Atmospheric Water Technology ('AWT') Signs Excl
ELGT Subsidiary Atmospheric Water Technology ('AWT') Signs Exclusive Agreement
With Major Government and Defense Contractor
DALLAS, Oct. 24 /PRNewswire-FirstCall/ -- Electric & Gas Technology, Inc.
(OTC Bulletin Board: ELGT) ("ELGT") announced today the signing of an
exclusive agreement with a major government and defense contractor for the
United States Government and Military locations worldwide for WATERMAKER(TM)
Solution Portfolio. The WATERMAKER(TM) Solution produces healthy, purified
drinking water from the atmospheric air we breathe.
According to S. Mort Zimmerman, Chairman of the Board of ELGT, the
relationship is a validation of its U.S. patent and copyrighted technology
that AWT has created. "We have always believed that our technology in
converting air into water has a special place in assisting people and
countries around the world that are in need of purified drinking water. The
United Nations has designated the year 2003 as the 'Year of Fresh Water' to
emphasize the urgent need for healthy purified water needed throughout the
World. The agreement with this major government contractor will facilitate
our ability to bring this technology to market. They are a very well
respected company in the government and defense sector and have the
professional leadership we were looking for to distribute our technology
globally. We are looking forward to a long term successful relationship with
this well known contractor."
The WATERMAKER(TM) is a unique system which provides an abundance of clean
water before it has been exposed to earthly contaminates. The system produces
from 30 gallons per day up to 10,000 per day. The large metropolitan solution
can produce up to 2,000,000 gallons per day and installed with a unique
automatic bottling facility should produce 3,780,000 - two (2) liter bottles
per day utilizing only electricity. The systems can be fabricated and
installed in 90 to 120 days depending on the volume of production required.
ELGT advised that statistically the amount of water which continuously
recirculates in the Earth's atmosphere is approx. 13,000 trillion cu meter or
more than 3 million trillion gallons or 11.3 million trillion liters.
ELGT has large installations currently in Saudi Arabia, U.A.E., Egypt and
Pakistan.
Electric & Gas Technology, Inc. ("ELGT") was organized under the laws of
the State of Texas on March 18, 1985, to serve as a holding company for
several operating subsidiary businesses. Atmospheric Water Technology, Inc.
("AWT") a subsidiary of ELGT incorporated in June 1997, was created to focus
on the opportunities in the water industry. Other ELGT businesses include a
company in the natural gas industry to provide a broad line of precision
instrumentations, electric group that designs and sells meter sockets and pole
line hardware, and an affiliated manufacturing group for producing sheet metal
applications. |
