This news seems to validate the long term value of this stock even though the current quarter may not be all that impressive. I'm definitely a buyer here.
WorldWater & Power Corp. Signs $1.145 Million Contract to Provide Solar Power for California Embroidery Plant
Wednesday December 21, 7:30 am ET
With New Contract, Company Announces Revenue Guidance for 2006
PENNINGTON, N.J.--(BUSINESS WIRE)--Dec. 21, 2005--WorldWater & Power Corp. (OTC BB: WWAT - News), developer of proprietary high-powered solar energy systems, today announced that it has signed a $1,145,800 contract to build and install a solar electric power generation system for Quality Embroidery in Los Angeles, California. The photovoltaic (PV) system will provide electricity for the company, and is expected to substantially reduce electrical usage costs for the facility.
With the signing of this contract, on top of its earlier announced 2005 contract backlog of $23 million, the Company issued Revenue Guidance for 2006, projecting Revenue of $25 million to $35 million.
For Quality Embroidery, WorldWater & Power Corp. plans rooftop and carport installation of the PV panels that will power the system. Plans call for construction of the carport and installation of the systems by GJ Electric of Los Angeles. The project will be managed and supervised by Quantum Energy Group, the California engineering, construction and project management firm acquired by WorldWater & Power Corp. earlier this year. The contract is subject to approval of financing and the utility rebate application, following which construction is expected to begin immediately.
About WorldWater & Power Corporation
WorldWater & Power Corporation is a full-service, international solar engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's water supply and energy problems. For more information about WorldWater & Power Corp., visit their website at www.worldwater.com.
Information about WorldWater's newly acquired subsidiary, Quantum Energy Group, is available at www.quantumenergygroup.com.
Forward Looking Statement
Except for historical information contained herein, this document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks and uncertainties that may cause the Company's actual results or outcomes to be materially different from those anticipated and discussed herein. Further, the Company operates in industries where securities values may be volatile and may be influenced by regulatory and other factors beyond the Company's control. Other important factors that the Company believes might cause such differences are discussed in the risk factors detailed in the Company's 10-KSB and its quarterly reports on Form 10-QSB both as filed with the Securities and Exchange Commission, which include the Company's cash flow difficulties, dependence on significant customers, and rapid development of technology, among other risks. In assessing forward-looking statements contained herein, readers are urged to carefully read all cautionary statements contained in the Company's filings with the Securities and Exchange Commission.
Contact:
WorldWater & Power Corp.
Rose Mary Schwarz, 609-818-0700, ext. 33
rschwarz@worldwater.com
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Source: WorldWater & Power Corp.
I am only expressing my personal opinions or repeating public information from SEC filings or media outlets-which may or may not be correct. Do your own investigating before investing!
