Empresas y finanzas

WorldWater & Solar Technologies Announces Completion of ENTECH Merger



    WorldWater & Solar Technologies Corp. (OTC BB: WWAT.OB), developer
    and marketer of proprietary high-power solar systems, today announced
    that it has closed the merger with ENTECH, Inc. of Keller, Texas. This
    transaction was made possible through agreement with one of
    WorldWater´s largest investors, the Quercus Trust (Quercus). Quercus
    exchanged 19.7 million of its common shares of WorldWater for 19,700
    shares of convertible preferred stock and supplied WWAT with a $6
    million bridge loan. The 19.7 million common shares and the bridge
    loan were subsequently utilized to complete the ENTECH merger.

    Pursuant to the exchange agreement, once a shareholders meeting is
    held and additional common shares are authorized, a subsequent
    exchange with Quercus will be implemented. As a result, Quercus will
    receive 19.7 million common shares in exchange for the 19,700 shares
    of convertible preferred stock previously issued.

    "The Quercus Trust, which has been an investor in our company
    since last spring, has demonstrated its strong commitment to both
    WorldWater and ENTECH by making this transaction possible on an
    expedited basis," said Quentin T. Kelly, Chairman and CEO. "As our
    investors know, the merger with ENTECH, 19 months in the making, paves
    the way for our company to provide 20x concentrator PV systems to the
    U.S. and international markets at costs among the lowest of all solar
    suppliers, including thin film manufacturers. Quercus made it possible
    to move forward without further delays, allowing us to take advantage
    of the many opportunities now on the table across the globe. With
    solar energy taking on greater significance both in the U.S. and
    overseas -- and oil prices at near all-time highs -- we simply could
    not wait any longer to merge our two companies and leverage the
    resulting synergies. Quercus enabled this to happen."

    Dr. Walter Hesse, CEO of ENTECH, commented, "This is terrific. Now
    ENTECH and WorldWater & Solar Technologies can proceed with the
    production of our 20x concentrator lines. Together with WorldWater, we
    will be able to supply ´solar farms´ throughout the world with
    electricity production at costs and efficiencies that we believe
    change the current economics of solar power - making it affordable to
    millions."

    About WorldWater & Solar Technologies Corp:

    WorldWater & Solar Technologies Corporation is a full-service,
    international solar electric engineering and water management company
    with unique, high-powered and patented solar technology that can not
    only generate and distribute electricity, but can drive 1000
    horsepower motors and pumps from sunshine independently or in
    conjunction with the electric grid, providing solutions to a broad
    spectrum of the world´s electricity and water supply problems. For
    more information about WorldWater & Solar Technologies Corp., visit
    the website at www.worldwater.com.

    About ENTECH, Inc:

    ENTECH provides advanced concentrator solar energy technology for
    a variety of applications, ranging from solar power arrays for
    spacecraft and terrestrial implementation to day lighting systems for
    commercial buildings. The company´s patented solar power systems
    produce electricity from sunlight for applications on Earth
    (terrestrial power) and in space (spacecraft power). ENTECH´s arched
    Fresnel lenses capture sunlight and focus it onto small solar cells,
    thereby reducing electricity costs compared to conventional flat-plate
    (planar) solar energy approaches. Additional information can be found
    at http://www.entechsolar.com.

    Forward Looking Statements:

    Except for historical information contained herein, this document
    contains forward-looking statements within the meaning of the Private
    Securities Litigation Reform Act of 1995. These statements involve
    known and unknown risks and uncertainties that may cause the Company´s
    actual results or outcomes to be materially different from those
    anticipated and discussed herein. Further, the Company operates in
    industries where securities values may be volatile and may be
    influenced by regulatory and other factors beyond the Company´s
    control. Other important factors that the Company believes might cause
    such differences are discussed in the risk factors detailed in the
    Company´s 10-KSB and its quarterly reports on Form 10-QSB both as
    filed with the Securities and Exchange Commission, which include the
    Company´s cash flow difficulties, dependence on significant customers,
    and rapid development of technology, among other risks. In assessing
    forward-looking statements contained herein, readers are urged to
    carefully read all cautionary statements contained in the Company´s
    filings with the Securities and Exchange Commission.