Arrow Receives Authorization Towards Renewable Energy Initiative
07 Dicembre 2009 - 5:12PM
Marketwired
Arrow Resources Development, Inc. (OTCBB: ARWD) and PT. Sumber Alam
Utama (SAU), its joint venture partner, have received authorization
from the Indonesian Office of Director General of the National
Trade Department for GTherm Inc. and 7100 Group, LLC to be the sole
agent and supplier for SAU's geothermal and solar energy
development projects. Arrow's Indonesian subsidiary, PT Arrow
Renewable Energy, signed a joint venture agreement with SAU to
develop GTherm's patent pending Single Well Engineered Geothermal
System ("SWEGS").
GTherm, Inc. was engaged by SAU to manufacture, provide the
technology and engineering expertise to support the construction,
operations in distributing equipment to generate and transmit solar
power and energy for usage and/or sale to its customers. Arrow
intends to install and operate solar energy equipment capable of
producing a minimum of 50 MW per location and a maximum of 10,000
MW throughout Indonesia.
7,100 Group, LLC was engaged by SAU to manufacture, provide the
technology and engineering expertise to support the construction,
operations in distributing equipment to generate and transmit solar
power and energy for usage and/or sale to its customers. Arrow
intends to install and operate solar energy equipment capable of
producing a minimum of 500 MW and a maximum of 2,000 MW throughout
Indonesia.
About Arrow Resources Development, Inc.
Arrow Resources Development, Inc. develops and coordinates
corporate operations, finance, sales and marketing activities along
with the administration of the corporate citizenship programs for
natural resource development companies in the Asian market. Its
initial relationship with Arrow Pacific Resources Group Limited
(BVI Company) is for the development of large scale plantation and
farming operations in Indonesia. Arrow has signed a similar
agreement with Gerakan Masyarakat Pelestari Lingkungan Hidup
(GMPLH), and GMPLH's joint venture partner, PT Tiga Daun
(Indonesian company owned by Arrow Pacific) for the large scale
plantation/farming and ethanol plants in Indonesia. Arrow's
agreements entitle the Company to 10% of all gross revenue
generated by all their partners' plantation/farming including any
and all sales of natural resources and derivative products. For
more information about the company, please visit their website at
www.arrowrd.com.
Safe Harbor: Statements regarding financial matters in this
press release other than historical facts are "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, Section 21E of the Securities Exchange Act of 1934, and as
that term is defined in the Private Securities Litigation Reform
Act of 1995. The Company intends that such statements about the
Company's future expectations, including future revenues and
earnings, technology efficacy and all other forward-looking
statements be subject to the Safe Harbors created thereby. The
Company is a development stage firm that continues to be dependent
upon outside capital to sustain its existence. Since these
statements (future operational results and sales) involve risks and
uncertainties and are subject to change at any time, the Company's
actual results may differ materially from expected results.
Contact: Arrow Resources Development, Inc. Investor Relations
Email Contact
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