UTEK Spins Off Device To Seperate H2O into Hydrogen

Thursday, June 12th, 2008 at 4:13 pm

UTEK Spins Off Device To Seperate H2O into Hydrogen ANDSTRING Oxygen

Author: www.SolarAme.com

World Energy Solutions, Inc. acquires Advanced Alternative Energy, Inc. from UTEK Corporation
2:00a ET June 11, 2008 (Business Wire)

UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a leading innovation services company focused on technology transfer, and World Energy Solutions, Inc, (OTCBB:WEGY) an energy services company and electronics manufacturer, are pleased to announce that World Energy Solutions, Inc. has acquired Advanced Alternative Energy, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.

Advanced Alternative Energy, Inc. has negotiated a worldwide exclusive license to a device that can separate water into its component elements of hydrogen and oxygen. Thin metal oxide films have been developed in a laboratory at Florida State University for the purpose of improving the efficiency of water electrolysis. The films have demonstrated the ability to generate both hydrogen and oxygen near their thermodynamic limits, thus potentially allowing for very high efficiencies.

“World Energy Solutions is enthusiastic about this technology and its contribution to help expand our proprietary position in alternative energy. We believe that the technology has the potential to improve the fuel efficiency of internal combustion engines with the addition of efficiently generated hydrogen gas,” said Benjamin Croxton, Chief Executive Officer at World Energy Solutions.

“UTEK is pleased to consummate this technology transfer with World Energy Solutions,” said Joel Edelson, Vice President of Technology Licensing at UTEK Corporation. …

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