World Health Energy's subsidiary GNE-India forms JV with Prakash Anthony to install 250-acre commercial algae farm in Karnataka, India, to produce algal oil for biofuels, food protein, fish feed
November 23, 2010
– Commercial and Technology Licensing Agreement to Commence Within 60 Days
World Health Energy Holdings, Inc. (PINKSHEETS: WHEN), a public holding company operating in the alternative energy sector, announced today that the company's wholly-owned subsidiary, GNE-India, has signed a letter of intent with Prakash Anthony via a joint venture to install a 250 acre commercial farm on premises located in the Ramanagara District of Karnataka, India in order to produce fish feed and Algal Oil. The initial project will consist of a 2.5 acre system known as the GB3000, an Algae Enhancement Technology used for growing algae. The full Commercial and Technology agreements are to be signed by both parties within sixty days and planning of the initial system to begin immediately following the agreement. The company will inform shareholders of the projected completion date of the algae farm after the signing of the joint venture agreement.
World Health Energy Holdings, Inc. recently acquired GNE-India, an algae technology company with the distribution and licensing rights to a unique and innovative system to grow algae quickly and efficiently for energy and food protein. GNE-India owns and retains the territorial rights for distribution and sales of the proprietary technology to both India and Sri Lanka.
World Health Energy Holdings, Inc. has formulated a business plan 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 World Health Energy Holdings, Inc. http://www.worldhealthenergy.com
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.
About GNE-India, Inc. http://www.globalworldenergy.org
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.