Odyssey Enters Strategic Partnership With Hylem Water
26 Abril 2010 - 6:00AM
Odyssey Oil & Energy, Inc. (OTCBB:OOGI) is pleased to announce
a strategic partnership with Hylem Water (Pty) Ltd. Odyssey has
entered into a Memorandum of Understanding to help Hylem raise an
amount of $2.5 million in order for Hylem to implement its business
plan and Odyssey will take up to a 51% interest in Hylem.
Hylem Water manufactures and markets its Rubicon Sachet, which
purifies drinking water making it particularly effective in rural
areas; it also has the license for the Ferate Technology, which
removes heavy metals from mining and industrial wastewater.
"Hylem is a perfect fit in our on going quest as a Green
Technology Company," said Arthur Johnson - President.
About the Bio-Fuels Division
ALG Western Oil (Pty) Ltd, a subsidiary of Odyssey, is currently
operating in a joint venture with Xstrata Alloys, a subsidiary of
Xstrata Plc (LSE:XTA), the world's largest producer of ferrochrome
in a project at one of Xstrata's Ferro-chrome smelters near
Rustenburg in South Africa to capture and sequestrate the carbon
dioxide emissions thereby creating carbon credits.
Currently all the carbon monoxide from the ferrochrome smelters
is flared to carbon dioxide and released into the atmosphere.
The current phase is the growing of a selected algae strain in
photo bio-reactors, utilizing the carbon dioxide (CO2) flue gas
coming from the exhausts of the generators, (with the aid of
sunlight and some nutrients, through the process of photosynthesis)
to sequestrate the environmentally harmful CO2 emissions and
produce high value compounds like vegetable oil which can be used
directly as a bio fuel instead of diesel and or jet fuel,
carbohydrates and protein to be used in the animal feed industry
and the release of oxygen back into the atmosphere.
ALG Western Oil has a pilot plant at Xstrata's Boschoek Smelter,
The next phase will be the rolling out on a commercial scale.
The process turns harmful emissions into oxygen while producing
bio-fuel, a clean renewable source of energy. By using Algae as the
feedstock no food related resources are being consumed to produce
the bio-fuel.
For further information on the company please contact the
company at
+27(11) 807-1446
www.odysseyoil.net
This release contains various forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, which represent
the company's expectations or beliefs concerning future events of
the company's financial performance. These forward-looking
statements are further qualified by important factors that could
cause actual results to differ materially from those in the
forward-looking statements. These factors include the effect of
competitive pricing, the company's dependence on the ability of
third party manufacturers to produce components on a basis which is
cost-effective to the company, market acceptance of the company's
products and the effects of government regulation. Results actually
achieved may differ materially from expected results included in
these statements.
CONTACT: Odyssey Oil & Energy, Inc.
Arthur Johnson - President
+27(83)654-2633
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