ORLANDO – GDT Tek, Inc. (OTC: GDTK) focused on renewable and sustainable energy technologies today announced that on April 29, 2011, the Company entered into an exclusive licensing agreement with Steriwave Hungary Ltd., a British corporation. Under the licensing agreement, the Company granted exclusive rights to market, distribute, and deploy the Company’s renewable and sustainable energy technology that converts heat and/or waste heat into electricity in certain European countries. The countries covered by the agreement include Italy, Spain, Romania, Slovakia, and the United Kingdom. The initial term of the agreement is for 18 months, and will be automatically renewable for an additional 15 years upon funding of the first European electricity generating project obtained by Steriwave utilizing the Company’s renewable and sustainable energy technology. Steriwave will provide funding for the waste heat to electricity projects. The parties will split the gross profit from projects covered by the agreement 70% to Steriwave and 30% to the Company until the principle investment of Steriwave is paid back, and thereafter, the parties shall split gross profits 50% each.
Bo Linton, President of GDT Tek stated, “We are very pleased to form this alliance with Steriwave. The interests of their group are very wide and in many domains from Microwave to Ultrasound technologies. Steriwave is backed by many international scientists of the Telesio Galilei academy, Lium University, and the Noetic Advanced Studies Institutes, which brings more financing options, attention, and credentials to the GDT Tek waste heat to electricity projects.”
About Steriwave Hungary LTD - Steriwave PLC based in London has developed a new concept for central heating systems, water sterilization systems and sterilization of bio-hazardous waste. Please visit the website for further information www.steriwave.com.
About GDT Tek Inc. - is an Orlando, Florida-based publicly traded company (OTC: GDTK) focused on renewable and sustainable energy technologies. The company has licensed patented waste heat to electric power generation technology and is driving its adoption by power plants, landfills and other waste-heat generating industries. GDT Tek’s waste heat to electricity systems are powerful enough to serve as a primary energy source, highly efficient, immediately cash-flow positive when installed under a Power Purchase Agreement and are scalable with system sizes from 150 KW/Hr to 5000 KW/Hr currently available. The GDT Tek system has been proven through a long-term five year installation at a San Jose, California-area landfill. Waste heat captured from landfill-generated methane gas generator engine exhaust and radiator jacket coolant systems is used by the GDT Tek system to generate electricity which is then sold to the grid. Professor Robert W. Dibble of the University of California at Berkeley assessed the GDT Tek system and stated that “Of the many technologies that I have evaluated over the course of the past several decades, GDT Tek’s heat to power conversion solution has proven to be the most reliable, versatile, efficient, lowest emissions, and overall cost-effective solution available in today’s changing world market.”
RTR Global Investments, LLC is a wholly owned subsidiary of GDT Tek, Inc. Its holds renewable and sustainable energy projects, contracts, and power purchase agreements for its parent company GDT Tek, Inc.
GDT Tek, Inc.’s website is www.gdttek.com, which is in the process of being updated; please sign up for our newsletter on our renewable and sustainable energy (http://www.gdttek.com/info-signup.php) for information about the company.
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SOURCE GDT Tek, Inc.