Ocean Thermal Energy Corporation Reaffirms Its Commitment to the United Nations Sustainable Development Goals
LANCASTER, PA / ACCESSWIRE / March 29, 2018 / Ocean Thermal Energy Corporation (OTCQB: CPWR) ("OTE" or the "Company"), a project developer for Ocean Thermal Energy Conversion (OTEC) plants that generate renewable energy without the use of fossil fuels, today reaffirmed its commitment to the United Nations Sustainable Development Goals.
Reports about the number of people without regular access to potable water are alarming. According to the World Health Organization (WHO), 844 million people around the world lack access to a basic safe water source. An additional 2 billion have access to only contaminated water, which transmits diseases such as cholera, dysentery, and typhoid. Several countries in Africa are expected to run out of water within the next 30 years. Cape Town, the largest city in highly developed South Africa, was on the brink of running out of water only one month ago.
To combat these conditions, on September 25th, 2015, the United Nations adopted the Sustainable Development Goals (SDGs), a global agenda developed by the 193 Member States with the goal of ending poverty by 2030. The SDGs are comprised of 17 core goals that range from providing clean water and affordable and clean energy to generating opportunities for economic development. The SDGs provide a critical roadmap to a sustainable future and more prosperous world.
The SDGs's goals are not only to end poverty, but also to protect the planet and ensure prosperity for all. They are part of a new sustainable development agenda and have been adopted by a large number of countries throughout the world. As part of this powerful and ambitious agenda, the UN put out a call to action for the private sector to play a fundamental role in achieving these goals and actively deliver solutions to global issues. Each goal has specific targets to be achieved over the next 15 years and requires everyone - governments, the private sector, civil society, and people like you - to do their part.
Ocean Thermal Energy Corporation Reaffirms Its Commitment
Ocean Thermal Energy Corporation is reaffirming its commitment to this agenda and invites impact investors to support the company's agenda with investment and by aligning themselves with these Global goals. The Ocean Thermal Energy Conversion (OTEC) technology developed by Ocean Thermal Energy Corporation provides the optimal vehicle to make these investments work for the benefit of the World population while creating opportunity for exceptional Return on Investment for its investors.
OTE Corporation Drives Advances
Ocean Thermal Energy Corporation is playing a major role in the advance of the OTEC industry by designing, receiving approval, and establishing projects in the Bahamas, U.S. Virgin Islands, and with a major U.S. Defense contractor. OTE believes that OTEC technology is now truly ready for commercialization and OTE's business model and technology provide an ideal basis to establish the Company as the industry leader for the implementation of renewable energy based on OTEC technology.
About OTEC and SWAC
OTEC plants generate renewable energy by "harvesting" the heat in ocean water and using that heat to warm liquids with a low boiling point (such as ammonia) so that vapor is produced. The vapor turns a turbine and generates electricity. Cold water then condenses the vapor, and the closed loop cycle continues. Supporting the efforts for more sustainable living in developing nations around the world, OTE's OTEC and SWAC technologies drastically reduce the output of carbon emissions and produce renewable energy without the use of fossil fuels. This translates to slowing down climate change and cleaning up our atmosphere for a healthier planet for all.
About Ocean Thermal Energy Corporation
OTE is a Lancaster, Pennsylvania-based company that designs and develops deep-water hydrothermal clean-energy systems which produce fossil-fuel free electricity through Ocean Thermal Energy Conversion (OTEC), and environmentally friendly cooling through Seawater Air Conditioning (SWAC) without the use of fossil fuels. An important part of the technology is the production of large amounts of water for drinking, aquaculture, agriculture, and economic development.
OTE's technology is ideally suited to tropical and subtropical regions of the world - where about 3 billion people live. It utilizes the natural temperature differential in oceans to generate base-load, 24/7, clean, non-polluting electricity, as well as alternative, energy-efficient cooling systems and fresh water, the latter of which is essential for the entire world, particularly developing communities.
For additional information regarding OTE, please visit the company's website at www.otecorporation.com.
Safe Harbor Statement
Except for the historical information contained herein, this press release contains forward-looking statements made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that statements in this press release regarding OTE's plans or expectations constitute forward-looking statements. These statements involve risks and uncertainties that can cause actual results to differ materially from those in such forward-looking statements. These risks and uncertainties include, without limitation: a decision by any of the interested parties to not enter into a definitive power purchase agreement; the inability of the parties to successfully negotiate and enter into a definitive power purchase agreement; the inability of the parties to meet every closing condition contained in such definitive power purchase agreement and the protection and maintenance of OTE's intellectual property rights.
Additional information and factors that could cause actual results to differ materially from those in the forward-looking statements are contained in OTE's periodic reports filed with the Securities and Exchange Commission under the heading "Risk Factors." Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made, and the facts and assumptions underlying the forward-looking statements may change.
Except as required by law, OTE disclaims any obligation to update these forward-looking statements to reflect future information, events or circumstances.
Becky Wink Cooper
SOURCE: Ocean Thermal Energy Corporation