The Company has invested in Aquarius Power, Inc., a Texas company, to become a strategic shareholder in order to provide a land-based wave energy system that uses a combination of gravity and “buoyancy” found within the interaction between air and water to produce power that can be used to generate electricity and / or produce potable water.
The AQuarius Wave Energy System uses wave motion to harness gravity in order to produce power. The ideal clean energy source for the 21st century, AQuarius has the potential to transform cities and towns into self-sufficient, eco-friendly communities by making them net producers of electricity and clean drinking water. Cost-efficient and easily combined into an integrated model, the AQuarius Wave Energy System’s exceptional attributes give it a leading edge over other renewable energy technologies.
AQuarius is a baseload zero carbon footprint that uses no consumables and can be installed virtually anywhere on the planet that is cost effective against any fossil fuel alternatives. The system, which can be built turn-key within 6 months of obtaining permits, has an operating life of over 60 years and is clean, scalable, reliable, and extremely flexible. Its operating cost is comparably low as hydroelectric systems.
The Company plans to install this breakthrough technology for the 100-MW power plant project in Yen Bai Province, Northern Vietnam.