NEW YORK, NY -- (Marketwire) -- 06/24/11 -- World Health Energy Holdings, Inc. (OTCQB: WHEN) (PINKSHEETS: WHEN), a public holding company developing joint venture partnerships for algae production for biodiesel and commercial fish food, announced today that the company has signed a Memorandum of Understanding (MOU) for a joint venture with SHK Energy Projects Private Limited of India. Initially utilizing a five acre site, plans call for expansion to over 45 acres in the near term. The site already has a substantial infrastructure of pumps and pipes running along a water canal which offers many of the required resources necessary for algae growing systems.
Jeremy Werblowsky, CFO of World Health Energy Holdings, said, 'It is exciting to see the interest in our GNE GB 3000 system from a number of potential joint venture partners. We are currently involved with two Letters of Intent (LOI) and two MOUs for the development of algae commercial farms comprising from 2.5 acres to 250 acres. The LOIs and MOUs are necessary steps to forming mutually beneficial joint ventures. We look forward to working with SHK Energy and benefiting from their business relationships and resources.'
World Health Energy Holdings, Inc. recently acquired GNE-India, an algae technology company with the distribution and licensing rights to a unique and innovative technology, the GNE GB 3000 system, to grow algae quickly and efficiently for the production of biodiesel and commercial fish food protein. GNE-India owns and retains the territorial rights for distribution and sales of the proprietary technology to both India and Sri Lanka. The company has exclusive distribution and licensing rights to the GNE GB 3000 system in India and Croatia. Earlier this year, the GB 3000 system was used to grow a combination of local algae species, as well as Chlorella, targeting the product to the fish feed and biodiesel markets.
World Health Energy Holdings, Inc. is focused on biofuels produced from algae, which boasts substantially higher yields in comparison to ethanol derived from corn, rapeseed, jatropha and palm oil. The company also works with visionary enterprises in the multi-billion dollar renewable energy arena producing progressive, broad-based solutions for better physical, nutritional and environmental health worldwide. In addition, the company is pursuing an ancillary use of algae -- the efficient production of high-protein fish feed for commercial fish farms.
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About SHK Energy Projects Private Limited
Based in Bangalore, India, SHK Energy Projects Private Ltd. develops and operates renewable energy projects, in addition to consulting on sustainable energy projects with other companies. Corporate Website: http://www.shkenergies.com/
About World Health Energy Holdings, Inc.
World Health Energy Holdings, Inc. is an emerging renewable energy and biofuel company. The company will produce, sub-license and market high-quality, low cost B100 Biodiesel to replace traditional fossil fuels with proprietary algae biofuel systems. Corporate website: http://www.worldhealthenergy.com
About GNE-India, Inc.www.gne.bz
GNE Global Natural Energy Ltd. is an algae tech company with unique systems to grow algae commercially for energy and food. The Company was founded by top experts in the plant and algae field after several years of research and development to create affordable and viable algae biofuel systems.
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This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause World Health Energy Holdings, Inc.'s actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
World Health Energy Holdings, Inc.