FRIEDBERG, Germany, Nov. 24, 2004 (BUSINESS WIRE) -- VG Tech Inc.'s wholly owned subsidiary, Aqua Society GmbH, has entered into a non-binding memorandum of understanding with Gulf Water Treatment Co. Ltd. (GWT) to collaborate on the production of water treatment, filtration and desalination systems in the United Arab Emirates effective Dec. 1.
Under the agreement, VG Tech will provide materials, equipment, expertise and training to GWT. The fees and prices to be paid to the Company for providing these materials and services to GWT have yet to be determined.
GWT is a limited liability company established under the laws of the UAE. GWT specializes in the custom design and manufacture of water and waste-water treatment equipment, parts and chemicals for markets within member states of the Cooperation Council for the Arab States of the Gulf.
Aqua Society (www.aquasociety.com) is a German company with limited liability that is in the process of developing technologies for application in the fields of refrigeration and water purification. Currently Aqua Society has developed a working prototype of an apparatus for extracting potable water from the atmosphere and is in the process of developing technologies for optimizing the energy consumption of refrigerating units and refrigerated shipping containers.
###
