NEW YORK, NY -- (Marketwire) -- 03/15/11 -- 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 Dr. B Shivalingaiah from SHK Energy Projects Private Limited via a joint venture to build a 250-acre commercial algae farm in Karnataka, India to produce fish feed and Algal Oil. The initial project will consist of a 2.5 acre algae farm utilizing the GB3000, an Algae Enhancement Technology used for the efficient production of rapidly growing algae. The company will inform shareholders of the projected completion date of the algae farm after the signing of the joint venture agreement.
The letter of intent is in addition to the initial projects announced with Prakash Anthony in November of this past year and with David Lobo in January of this year. Similar to today's announced LOI, the agreement with Anthony involves a joint venture to install a 250 acre commercial farm on premises located in the Ramanagara District of Karnataka, India for the production of algae to produce fish feed and Algal Oil. The second LOI is with David Lobo from Deejay Coconut Farm PVT via a joint venture to build a 250-acre commercial algae farm in Bangalore, India.
Dr. B Shivalingaiah, after completing his Ph.D in Hamilton, Canada, served as a professor in P.E.S. College of Engineering Mandya (PESCE Mandya). Two years later, he began working for the Karnataka State government where he worked in various prestigious positions such as Member Secretary, Karnataka State Pollution Control Board (KSPCB), Bangalore, Chairman, KSPCB, Bangalore and Managing Director of Karnataka Renewable Energy, Bangalore. He is currently managing director of SHK Energy Projects Pvt Ltd.
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.
Jeremy Werblowsky, CFO of World Health Energy Holdings, said, 'World Health Energy looks forward to working with such a prestigious professor such as Dr. B Shivalingaiah. Given his extensive experience working in various sectors of state government, World Health Energy is confident on its prospects for algae production in 2011 once the joint venture agreement is signed and GNE-India and Dr. B Shivalingaiah begin working together.'
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.
About SHK Energy Projects Pvt Ltd. http://www.shkenergies.com/
SHK Energy Projects Pvt Ltd. develops and operates reliable and profitable renewable energy projects to provide Green and Clean energy. Our founders, partners and advisory panels have experience and knowledge, coupled with industry networks and the latest technologies can provide a focused and sound service base. Our partners have combined 85 years of Renewable energy and Environmental experience providing solutions to industries and society. Leading government organization in developing law and enforcing it.
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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.