Thursday, October 03, 2024 1:16:52 AM
LOS ANGELES, CA -- (MARKET WIRE) -- November 1, 2006 -- Save the World Air, Inc. (OTCBB: ZERO) today announced that is has appointed PT Carbon Credit Indonesia ("PT CCI") to serve as the company's exclusive distributor for its MAG ChargR™, ECO ChargR™ and CAT-MATE® devices in Indonesia.
The Company's wholly-owned subsidiary, STWA Asia Pte. Limited, and PT CCI have entered into a Distribution Agreement under which PT CCI has agreed to establish a letter of credit to support its initial order of 10,000 units, which order will be placed before November 30, 2006. The Distribution Agreement provides that PT CCI is required to purchase 600,000 devices over a five-year period in order to remain the exclusive distributor of the Company's products in Indonesia.
Bruce McKinnon, President of Save the World Air, stated, "This distribution agreement is the result of a successful testing program undertaken by STWA and CV Indako Trading, in Medan Indonesia. CV Indako Trading is a major Honda Distributor in Indonesia and an affiliate of PT CCI. STWA is pleased to add PT CCI to its distributor base."
Arifin Posmadi, Director of PT CCI, added, "We will first focus on supplying MAG ChargR devices to the motorcycle aftermarket because the people of Indonesia desperately need relief from the rising cost of gasoline and air pollution. Our initial market focus will be in Jakarta, Medan, Yogyakarta, Surabaya and Bandung. We are privileged to be Save the World's Air's exclusive distributor in Indonesia."
STWA is also continuing its marketing efforts to governmental entities in Indonesia and internationally in cooperation with the United Nations Environmental Programme.
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