Clyvia Inc. Enters into Memorandum of Understanding for the Marketing of its Technology in South-East Asia.POINT ROBERTS Point Roberts, uninc. town (1990 pop. 750), Whatcom co., NW Wash., on the Strait of Georgia near the tip of the Point Roberts peninsula, extending south from British Columbia, Canada, and separated from the Washington mainland by Boundary Bay. , Wash. -- Clyvia Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CLYV) announced today that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Clyvia Technology GmbH ("Clyvia GmbH") has entered into a non-binding memorandum of understanding A Memorandum of Understanding (MoU) is a legal document describing a bilateral or multilateral agreement between parties. It expresses a convergence of will between the parties, indicating an intended common line of action and may not imply a legal commitment. (the "MOU (Minutes Of Usage) A metric used to compute billing and/or statistics for telephone calls or other network use. ") with Singapore businessman, Wong Chee Wah. Pursuant to the terms of the MOU, Mr. Wah will be given an exclusive sales license to market the systems being developed by Clyvia GmbH for the production of fuel and diesel from organic waste materials (the "Fuel Technology") in Singapore, Thailand, Burma and Japan. Clyvia GmbH will also grant to Mr. Wah a non-exclusive license to market the Fuel Technology in China, Taiwan, Australia, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. , Korea, Malaysia, Indonesia, the Philippines and India. If Mr. Wah is able to generate orders for the Fuel Technology from any of these countries, Mr. Wah will be granted an exclusive license for that country. According to Dr. Manfred Sappok, one of Clyvia GmbH's managing directors, "With the distribution partner in Asia, the marketing of our technology, once development is completed, will have a much more solid foundation. We believe the agreement will provide markets for our systems in a strategically important sales region." About Clyvia Clyvia Inc. is currently in the process of a developing a proprietary technology that utilizes a process known as fractional depolymerization depolymerization /de·po·lym·er·iza·tion/ (de?po-lim?er-i-za´shun) the conversion of a polymer into its component monomers. depolymerization to produce diesel fuel and heating oil from various forms of recyclable waste materials, including waste oils, plastics and organics. The process used by Clyvia's technology splits longer complex carbon molecules into simpler molecules at a temperature of 400 degrees C. These simpler molecules are then evaporated and precipitated inside a condenser condenser Device for reducing a gas or vapour to a liquid. Condensers are used in power plants to condense exhaust steam from turbines and in refrigeration plants to condense refrigerant vapours, such as ammonia and Freons. as diesel oil or heating oil. This Press Release may contain, in addition to historical information, forward-looking statements. These forward looking statements are based on management's expectations and beliefs, and may involve known and unknown risks and uncertainties and other factors that may cause the actual results to be materially different from the results implied herein. In particular, Clyvia GmbH is still in the process of developing the Fuel Technology and there are no assurances that Clyvia GmbH will be able to successfully develop marketable products based on that technology. Even if Clyvia GmbH is able to successfully develop such a product, there can be no assurances that a commercial market will develop for those products or that Mr. Wah will be able to generate any orders for those products. Readers are cautioned not to place undue reliance on the forward-looking statements made in this Press Release. CLYVIA INC. WALTER P.W. NOTTER, Chief Executive Officer and President |
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