SNM Global Wave Technologies Gain Traction: U.S. Department of Energy 2010 Budget $48m Up 400% From 2008
October 18 2010 - 12:07PM
Marketwired
SNM Global Holdings (PINKSHEETS: SNMN) Wave energy (hydrokinectic)
development programs expect a flurry of activity thanks to $48
million in grants available to wave energy technologies from the
United States Department of Energy and an influx of funding from a
state initiative aimed at igniting the sector.
In fiscal year 2010, the Wind and Water Power Program budget for
water power activities was approximately $48.0 million, up from $8
million in 2008. Similar increases in government backed
developmental funding are being witnessed worldwide, particularly
in the UK.
The U.S. Department of Energy's Wind and Water Power Program
leads the nation's efforts to improve the performance, lower the
costs, and accelerate the deployment of wind and water power
technologies.
The Company has recently announced the launch of its Small &
Micro Hydro Technology Development Projects resulting from its
recent technology acquisitions (internally valued at $12.5 million)
and has already announced that eleven (11) major projects have been
launched in preparation for commercialization and international
distribution.
Each of the technology solutions, resulting from its recent
technology acquisitions, is a unique integration of proven
sustainable alternative sources, engineered to provide redundant
energy supplies in a wide variety of applications, particularly
adaptable as solutions for emerging markets.
It is expected that a number of the Small & Micro Hydro
technologies can be integrated with the Company's recently
announced Clean Water initiative, thereby providing both energy and
clean water sources simultaneously.
The recent market reports from Frost & Sullivan have
estimated that the "global ocean energy industry can be worth $1
trillion" and Pike Research states hydrokinetic energy is "50 to
100 times more cost-efficient than wind or solar"... and can be
more reliable than other kinds of renewable energy sources such as
wind or solar.
And, according to a new report from Pike Research, strong growth
in the desalination technology market is predicted over the next
several years, and the respected cleantech market intelligence firm
forecasts that global desalination investment will double from $8.3
billion in 2010 to $16.6 billion per year by 2016, representing
cumulative spending of $87.8 billion during that period.
The Company's acquired technologies and development projects
will be integrated into the Company's MicroTechnology Transfer
(mt2) Program and MicroEquity Partner Program; and will be
introduced into SNM Global's distribution network for emerging
market insertion and introduction.
SNM Global's MicroTechnology Transfer (mt2) Program and
MicroEquity Partner Program enable the acquisition, development,
and transfer of technologies that will provide for the betterment
of society and provide the catalyst for emerging markets to
leapfrog into the sustainable sectors that will drive the
twenty-first century.
The Company encourages collaboration with public, private and
institutional partners in all phases of the development and
technology transfer cycle; and accepts submissions from both
collaborative development, distribution and inventor partners
through the Collaboration Portal on its new website at
www.SNMNglobal.com.
About SNM Global Holdings SNM Global
Holdings (SNM Global) is a technology holding and development
company that invests in, acquires, and develops Intellectual
Property Assets and Operations in the Clean/Alternative Energy,
Biotech, Water and Better Health & Living sectors adapted
specifically for the emerging global markets.
The Company realizes revenues from the distribution of its
technology, products, and solutions through its network of
international agents and distributors and through the licensing of
Intellectual Property through its innovative mt2 Program. The
Company provides its International MicroEquity Partner program to
our local partners in our target international markets. This
program provides initial funding to a community building and
life-enhancing organization. The Company sees profits through
equity ownership and sales and distribution of its technology and
solutions. The company operates through its subsidiaries and
various distribution partners worldwide.
"SAFE HARBOR STATEMENT" UNDER THE PRIVATE SECURITIES LITIGATION
REFORM ACT OF 1995
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements to be materially different
from the statements made herein.
CONTACT: SNM Global Holdings 100 Pall Mall Saint James
London SW1Y 5NQ United Kingdom Tel Number: (44) 020 7096 0200
info@snmnglobal.com
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