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Article Excerpt
TAMPA, Fla. & ST. PETERSBURG, Fla. -- UTEK Corporation (AMEX:UTK) (LSE-AIM:UTK), a leading innovation services company focused on technology transfer, and World Energy Solutions, Inc, (OTCBB:WEGY) an energy services company and electronics manufacturer, are pleased to announce that World Energy Solutions, Inc. has acquired Advanced Alternative Energy, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.
Advanced Alternative Energy, Inc. has negotiated a worldwide exclusive license to a device that can separate water into its component elements of hydrogen and oxygen. Thin metal oxide films have been developed in a laboratory at Florida State University for the purpose of improving the efficiency of water electrolysis. The films have demonstrated the ability to generate both...
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