Environmental Solutions Worldwide, Inc. Signs Memorandum of Understanding with PURI tech of Germany
CONCORD, Ontario--June 20, 2005--Environmental Solutions Worldwide, Inc. (ESW) (OTCBB:ESWW) announced today that the Company's wholly owned subsidiary ESW Canada, Inc. (ESWC) has entered into a Memorandum Of Understanding (MOU) with PURI tech GmbH of Germany. The MOU outlines the requirements of both parties to finalize a contractual agreement for the preferred sales and distribution of diesel catalyst products for the German, Austrian and Italian markets.Our Research and Development Department at our Tech Center in Montgomeryville, PA has been working with PURI tech in several catalyst development programs since October of 2004. Catalyst engineers at ESWA have developed new diesel catalysts for the European Retrofit markets based on the Company's proprietary wire mesh catalyzed substrate. The Company has also been working with PURI tech in a catalyst development program for a number of PURI tech's Original Equipment Manufacturer (OEM) customers for the European market.
Mr. Kahlert, President of PURI tech GmbH commented, "With ESW's cutting edge catalysts, we will be in a greater position to significantly expand upon our current market segments and better serve our customers. We will be selling the new products primarily with our partners into the areas of ON and OFF-Road, OEM and aftermarket opportunities. I believe the high PM emission reductions and overall versatility of the ESW products will help PURI tech to position ourselves as a catalyst technology leader in key European markets."
Mr. David Johnson, ESW's President and CEO commented, "As the Company's global reach develops, we continue to attract recognized catalytic converter distributors like PURI tech GmbH. PURI tech's established key OEM relationships and major distribution network in Germany, Austria and Italy facilitates a synergistic relationship between both our companies. It is a pleasure working with professional companies such as PURI tech as we seek to broaden the scope of our global sales and distribution network."
About PURI tech
PURI tech GmbH markets and sells emission reduction products for on and off-road applications primarily in the European market since 2001. The offered products range from catalytic components to complete Diesel Particulate Control Systems and necessary electronic monitoring Accessories. The products are being sold to OEM customers as well as into Retrofit and Aftermarket. The products are being used in passenger cars, heavy duty vehicles (trucks and buses) and with the off-road machinery (construction machinery, fork lifts, mining and tunneling, etc.). PURI tech's diversified team has many years of experience in engine and emission reduction technology as well in design of complete emission reduction systems.
For further information, please visit: www.puritech.de
About Environmental Solutions Worldwide Inc.
With headquarters in Concord, Ontario, Environmental Solutions Worldwide, Inc. is a publicly traded company engaged through its subsidiaries ESW Canada, Inc. and ESW America, Inc. in the design, development, ISO 9001:2000 certified manufacturing and sales of environmental technologies. ESW currently manufactures and markets a line of catalytic emission control products and catalytic conversion technologies for diesel, gasoline and alternative fueled engines for a multitude of applications.
For updated information, please visit the Company's Web site at: www.cleanerfuture.com
Safe Harbor
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (The "Act"). In particular, when used in the preceding discussion, the words "pleased" "plan," "confident that," "believe," "expect," or "intend to," and similar conditional expressions are intended to identify forward looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, general acceptance of the Company's products and technologies, competitive factors, the ability to successfully complete additional financings and other risks described in the Company's SEC reports and filings.