Save The World Air, Inc. Awarded $4 Million Licensing Agreement
19 September 2000
Save The World Air, Inc. Awarded $4 Million Licensing Agreement
NEW YORK--Sept. 18, 2000--Save The World Air, Inc. (OTC:ZERO) announced today that it was awarded a contract by Tibbys Auto Supplies, Ltd., a leading automotive parts and accessories supply firm in Jamaica, to provide the Zero Emission Fuel Saver Device to its dozen outlets located in and around major cities in Jamaica.The exclusive Agreement is for a five-year term and is worth a guaranteed minimum of $4 million in royalty payments to Save The World Air, Inc. Save The World Air will manufacture the Devices, while Tibbys Auto Supplies will market them through its distribution outlets. The contract is a take-or-pay agreement, granting Tibbys Auto Supplies the exclusive marketing rights to the Device in Jamaica during the term of the Agreement. Save The World Air, Inc. anticipates that it will perform live tests of the Device in Jamaica to assist Tibbys Auto Supplies in its marketing efforts.