PENNINGTON, N.J., Feb. 24, 2006 (PRIMEZONE) -- WorldWater & Power Corp. (OTCBB:WWAT), developer and marketer of proprietary high-power solar systems, and New America Network, Inc., d/b/a NAI Global, Inc., an international commercial real estate service firm, have announced the signing of an agreement to introduce WorldWater & Power's solar energy and technology to the NAI Global network of commercial property managers and clients.
According to the terms of the agreement, NAI will help to identify prospects for the purchase of equipment, electric power or services from WorldWater & Power. In addition, NAI may assist in negotiating such purchases and in obtaining governmental approvals necessary for the construction of projects designed by WorldWater & Power that NAI has been instrumental in arranging.
"Our collaboration with NAI has the potential of being very beneficial for both firms," said Quentin T. Kelly, Chairman of WorldWater & Power. "NAI has access to commercial properties throughout the United States and around the world, and they strongly believe in the use of solar energy on those properties."
Gerald C. Finn, Chairman, Founder and CEO of NAI Global, shares Mr. Kelly's enthusiasm. "We see this as an exciting opportunity for NAI," said Mr. Finn. "The solar powered systems designed by WorldWater & Power can provide significant savings in terms of energy costs for properties," he continued. "Reducing operating costs by using solar energy translates into added value that will be very attractive to our clients and will provide NAI with an important competitive advantage in our industry."
The current agreement is the culmination of several joint efforts by the two firms over the past six months. In October 2005, WorldWater & Power and NAI Global combined to donate the Mobile MaxPure to residents of Waveland, Mississippi, one of the Gulf Coast communities most severely damaged by Hurricane Katrina. After nearly four months, the Mobile MaxPure, a solar powered mobile water pumping and purification unit designed and built by WorldWater & Power, still provides the only potable water to displaced residents and relief workers in the devastated area, as featured by MSNBC.com and the December 2005/January 2006 issue of FSB (Fortune Small Business) magazine.
In January, representatives of WorldWater & Power attended the NAI Global 2006 National Convention in Las Vegas, Nevada. Mr. Kelly was a guest panelist and speaker on the subject of Emergency Preparedness and Disaster Recovery and on the advantages of using solar power for controlling or eliminating electrical usage costs in commercial properties.
About WorldWater & Power Corp.
WorldWater & Power Corporation is a full-service, international solar electric engineering and water management company with unique, high-powered and patented solar technology that provides solutions to a broad spectrum of the world's electricity and water supply problems. For more information about WorldWater & Power Corp., visit the website at www.worldwater.com.
About NAI Global
NAI Global is the world's only managed network of independently owned commercial real estate services firms, with over 300 offices in over 40 countries. Since 1978, NAI Global clients have built their businesses on the power of NAI's expanding network. NAI Global's extensive services include corporate real estate services, brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence and related consulting and advisory services. To learn more, visit www.naiglobal.com
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