Wave Dispersion Technologies, Inc. Signs Partnership Agreement with Abu Dhabi’s International Golden Group, Initial Value in excess of $100 million USD
WhisprWave Floating Security Barrier Solutions (FSB’s) Deployed for the Protection of Critical Maritime Infrastructure in UAE
Abu Dhabi, UAE, Summit, NJ, March 2, 2009- Wave Dispersion Technologies, Inc. (WDT) and International Golden Group (IGG) have entered into a strategic partnership agreement for the provision of Floating Security Barriers (FSB) / Vessel Exclusion Barriers (VEB) to be installed at critical maritime infrastructure sites in the UAE encompassing oil, gas, power generation, and desalination facilities.
The contract covers 3 years, including the initial contract period with options, and has a value of USD $100 million, if all options are exercised and performance incentives are achieved. The initial production of the contract is being manufactured in Norfolk, VA, USA. The contract provides that WDT will utilize its WhisprWaveÒ Technology to ultimately manufacture FSB components locally in the UAE and provide related maritime services in support of the protective systems.
The initial phase of this agreement is to undertake a pilot project at one of the critical maritime infrastructure sites in Abu Dhabi. Following a successful pilot project with security issues achieved as planned, the partnership agreement will be extended to cover other critical maritime infrastructure sites within the UAE.
The FSB is designed with inherent flexibility to provide a platform that enables the addition of CCTV, Radar, Sonar, Anti-Swimmer Detection and Anti-Intrusion Detection Systems. Moreover, the system will act as a limited wave attenuator and with the addition of an attached oil boom will limit the affected area of oil spills.
According to Mr. Fadil Al Kaabi, CEO of IGG, “This partnership represents a great example of the cooperation between the UAE and USA in sharing technology and expertise to help secure our critical national maritime infrastructure. We look forward to working with WDT to further market this technology throughout the Middle East.”
According to Dennis G. Smith, CEO of WDT, “WDT has successfully marketed and installed its WhisprWaveÒ Technology in the USA, and elsewhere, but this agreement represents a true extension and prime example of cooperation by the USA to meet the UAE’s need for cutting edge technologies and foresight to proactively protect its critical maritime infrastructure. We look forward to a long and prosperous relationship with IGG.”
About Wave Dispersion Technologies, Inc.:
http://www.whisprwave.com/ - The Global Leader in Maritime Homeland Port Security Barrier & Buoy Protection Systems
Wave Dispersion Technologies, Inc. (WDT) has developed the patented WhisprWave® floating articulated breakwater technology to afford erosion control protection to shoreline beaches, coastal marinas, anchorages, and other areas subject to destructive erosive wave / wake forces. In addition the WhisprWave® security barrier designs are currently installed, being demonstrated or being reviewed by many US Government Agencies and Foreign Sovereigns including but not limited to the US Army Corp of Engineers "USACE", US Navy "USN", US Coast Guard "USCG", US Army "USA", USMC MEF Iraq, US Bureau of Reclamation "USBR", UAE CNIA, NAOC, and other clients for applications that range from Homeland Security / Force Protection to Beach Erosion Protection to Marina Wave & Wake Protection.
WhisprWave® breakwater technology has wide ranging maritime applications from erosion control to homeland security. The Company has been developing the technology for over 10 years and holds 9 Domestic and International Patents for the WhisprWave®'s unique design and utility, with an additional 23 patents pending.
WDT is a Listed Featured Private Company on http://www.homelanddefensestocks.com/, http://www.borderandportsecurity.com and the Investor Ideas Home page http://www.investorideas.com/
About International Golden Group:
International Golden Group LLC is a well established company in Abu Dhabi-UAE specialized in providing High-end Security & Defense Solutions with an excellent reputation in the UAE and Gulf market.
IGG has entered into long-term strategic business alliances with other local and international companies relying on a professional team of highly dedicated and experienced personnel along with a worldwide network of agents and affiliates committed to providing high- level services to its customers.
Through the implementation of the latest advanced technology, IGG is now capable to supply a variety of military, security, civilian and COTS products and technical solutions for various purposes related to the security needs of its clients.
International Golden Group LLC has positioned itself to become soon a first-class manufacturer of special products for the local and regional defense markets.
Contact:
Managing Director
Jonathan B. Smith
248-229-9010
jbsmith@whisprwave.com
Media / Investors:
Dawn Van Zant, dvanzant@HomelandDefenseStocks.com
www.HomelandDefenseStocks.com, Investorideas.com
Source: Wave Dispersion Technologies, Inc
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