GWSO Global Warming Solutions Inc (PK)

Global Warming Solutions, Inc. (Pink Sheets:GWSO) ๏ฟฝ a developer of technologies aimed at mitigating the effects of global warming ๏ฟฝ today announced that the company has signed a letter of intent with VEGA S.r.l an Italian alternative energy company for the purpose of forming a Joint Venture in Italy that will produce solar panels based on the LETG technology. The JV will be an Italian Company named ๏ฟฝAlpha Energy๏ฟฝ and will be equally owned by Global Warming Solutions, Inc. and Vega S.r.l. respectively. The JV agreement calls for Vega to provide complete funding and operational support for the JV and for Global Warming Solutions to provide the licensing of the LETG technology. This agreement comes only one month after Global Warming Solutions, Inc. appointed a European Sales Manager Mr. Antonio Adamo to its board of directors. Commenting on the transaction Mr. Adamo stated: ๏ฟฝWe are very excited to have initiated this deal with Vega Energy. I have been a believer in the LETG technology for a long time and feel that the European market will benefit greatly from the energy savings of the LETG.๏ฟฝ Mr. Settimio Gallo, CEO of Vega Energy s.r.l, stated: ๏ฟฝWe are excited to be participating in this JV with Global Warming Solutions and we hope to establish a cutting edge production plant that will produce high efficiency solar panels based on the LETG technology.๏ฟฝ Dr. Vladimir Vasilenko CEO and Dr. Dmitry Kosynkin CTO both traveled to Italy last week to meet the Vega Energy team and to discuss the details of the Joint Venture. ๏ฟฝThis transaction shows that we are moving towards our goal of successfully commercializing technologies that we have developed or acquired,๏ฟฝ said Dr. Vladimir Vasilenko, CEO of Global Warming Solutions. ๏ฟฝWe hope to establish a long lasting relationship with Vega and Mr. Gallo and to bring to market LETG solar Panels and Solar Energy systems.๏ฟฝ About Global Warming Solutions, Inc. Global Warming Solutions develops and commercializes technologies that help mitigate Global Warming and its effect on our planet. The Company targets three areas that help reduce the extent of Global Warming and fight issues that have risen in consequence: Clean Energy, Carbon Control, and Water Purification. Current climate models predict that global temperatures will rise sharply over the next century. The increase in temperatures can be slowed or eliminated by decreasing the amounts of greenhouse gases released into the Earth๏ฟฝs atmosphere. Global Warming Solutions seeks to leverage its experience and management to help make a difference in the fight for climate control. For more information visit the company website: http://www.globalwarmingsolutions.com The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The company's actual results could differ materially from those discussed herein.