MIAMI, April 8 /PRNewswire-FirstCall/ -- Universal Communication Systems,
Inc. (OTC Bulletin Board: UCSY) company chairman Michael J. Zwebner announced
today that the company has signed an agreement with their Chinese joint
venture partners, JiangSu Yangtze Petrochemical Co Limited of Shanghai China,
a division of Petro-China, to commence a program of "PV Solarization" of two
first test cases -- PetroChina Gas Stations in China.
The program will be enacted through their new Chinese corporation:
Shanghai Gaochen Energy Technology and Development Co Limited, (SGETD) which
was recently formed for the proposed new business.
Under the terms of the agreement, SGETD will, using the latest Photo
Voltaic (PV) Solar Energy Panels and Systems, and appertaining technologies
perfected in Israel, plan the complete PV Solarization of two PetroChina Gas
Stations. The initial costs of these first two installations is estimated to
be up to $100,000 each. The pay-back schedule is estimated to be less than 3
years.
UCSY Company chairman, Michael Zwebner stated: "This is a very major
achievement for our company. PetroChina is one of the world's largest
Petroleum companies and operates thousands of Gas Stations throughout China.
As part of our agreement, following the successful installation and conversion
of the initial two PetroChina Gas Stations transferring from Grid Connected
electric power to PV Solar Energy, we will contract further to "PV Solarize"
over 1,000 additional Gas Stations in a contract potentially worth over
$100 million. Our Chinese joint venture partners are very excited about the
possibilities of moving from Grid Supplied Electric Power, to PV Solar Energy
Systems."
In addition, as previously reported, UCSY subsidiary Millennium Electric
TOU Limited will jointly develop the local market for Photo Voltaic Solar
Panels and Systems, for sales and distribution to both the Chinese market and
for export to other markets around the world. It is also anticipated that the
group will eventually contract to manufacture a range of Millennium's PV Solar
panels in China.
About PetroChina
PetroChina, one of the largest companies in the Peoples Republic of China
in terms of sales, is engaged in a broad range of activities related to
petroleum and natural gas, including: exploration, development and production
of crude oil and natural gas; refining, transportation, storage and marketing,
including import and export of crude oil and petroleum products;
production and sale of chemical products; and transmission, marketing and sale
of natural gas.
Further information can be viewed at: http://www.PetroChina.com
About Universal Communication Systems Inc.
For further information, visit our web address: http://www.ucsy.com
About AirWater Corporation
For further information, visit our web address:
http://www.airwatercorp.com
About Millennium Electric T.O.U. Limited
Visit our web address: http://www.millennium-electric-inc.com
Safe Harbor Statement
Caution Concerning Forward-Looking Statements by Universal Communication
Systems, Inc.
This document includes certain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations or beliefs, and are
subject to uncertainty and changes in circumstances. Actual results may vary
materially from those expressed or implied by the statements herein due to
changes in economic, business, competitive, technological and/or regulatory
factors, and factors affecting the integration of the businesses of Universal
Communication Systems, Inc. More detailed information about these factors may
be found in filings by Universal Communication Systems, Inc. with the
Securities and Exchange Commission, including their most recent annual reports
on Form 10-KSB and quarterly reports on Form 10-QSB. Universal Communication
Systems, Inc. is under no obligation to, and expressly disclaims any such
obligation to, update or alter their forward-looking statements, whether as a
result of new information, future events, or otherwise.
Contact:
Universal Communication Systems, Inc., Miami
Rolando Sablon, 305-672-6344
Company web address: http://www.ucsy.com
For further information email us at: info@ucsy.com
SOURCE Universal Communication Systems, Inc.
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Related links: http://www.ucsy.com http://www.millennium-electric-inc.com http://www.PetroChina.com
CONTACT: Rolando Sablon, Universal Communication Systems, +1-305-672-6344, or info@ucsy.com
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