GWS Technologies, Inc. Announces Joint Venture with SEDCO, Inc. to Develop Green Industrial Park
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--GWS Technologies, Inc. (OTCBB: GWSC) an alternative energy company developing renewable energy solutions, today announced that it has entered into a strategic partnership and joint venture with Sustainable Eco-Green Development Company, Inc. (SEDCO) to develop a Green Industrial Park on approximately 1,000 acres adjacent to the Phoenix-Mesa Gateway Airport in Mesa, Arizona. GWS will provide equipment and technology integration on the project, with initial cost estimates for solar equipment expected to exceed $4 million. Design work is underway for a ground-based solar power plant which will provide temporary power to the site and will ultimately be relocated as project construction begins to become a permanent rooftop solar power plant, supplying electricity to the Green Park.
SEDCO and GWS have also agreed to collaborate on a program to acquire existing businesses, products and technologies in the renewable energy field and then build facilities for those businesses in the Green Park.
“We’re very enthusiastic about our partnership with GWS Technologies, and we believe the Phoenix-Mesa Gateway project will become a template for other green industrial parks across the country,” said SEDCO CEO Tom Layton. “Land is always a key component in valuing a business, and our making the land available and being able to construct customized facilities for renewable energy companies gives us a significant advantage in attracting start-up companies, as well as attracting manufacturing and assembly plants that want to relocate to Arizona.”
“This is a tremendous growth opportunity for us, both in regard to enhanced revenues and through strategic acquisitions,” said GWS Technologies’ CEO, Richard Reincke. “Phoenix-Mesa Gateway Airport is developing as a major commercial and aviation hub, so we are in the right place at the right time to benefit from this expansion and bring more green-collar jobs to Arizona.” The Airport has been designated as a Foreign Trade Zone, which provides special customs procedures to U.S. plants engaged in international trade-related activities. This helps to offset customs advantages available to overseas producers who compete with domestic industry.
According to a report by Arizona State University, Phoenix-Gateway Airport had a $500 million economic impact during the last fiscal year. Additional growth includes the development of a $1 billion mega-resort, retail and mixed use project by DMB Associates, Westcor and Gaylord Entertainment at the former General Motors Desert Proving Grounds next to the Airport.
About GWS Technologies, Inc.
“GWS” stands for GreenWindSolar. We are an alternative energy company developing renewable energy solutions. A “green” wave of emerging environmental regulations, and government-wide “green” initiatives, are changing the way consumers, the commercial sector, and states, counties and municipalities, do business. The company was founded in 2005 and is headquartered in Scottsdale, Arizona.
Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the company to be materially different from those expressed or implied by such forward-looking statements. The forward-looking statements are subject to risks and uncertainties including, without limitation, changes in levels of competition, possible loss of customers, and the company's ability to attract and retain key personnel.
Contact:For GWS Technologies, Inc.
Stuart T. Smith,
512-267-2430
Fax: 512-267-2530
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