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VelaTel's Subsidiary VN Tech Advances Its Plans for Green Energy Technology in ChinaSAN DIEGO, Jul 25, 2012 (GlobeNewswire via COMTEX) -- VelaTel Global Communications (OTCQB:VELA), a leader in deploying and operating wireless broadband and telecommunication networks worldwide, announced today that its subsidiary VN Technologies, a leader in developing hydrogen fuel cell green energy technology, has completed its initial round of test trials commissioned by China Mobile Limited. China Mobile has submitted a comprehensive report of the test trial results to key ministries of China's Central Government. Meanwhile, China Telecom Corporation has also commissioned VN Tech to construct trial test sites in Beijing on its behalf. China Mobile is the largest mobile telephone operator worldwide (based on number of subscribers 650 million) and is the driving force behind the Global TD-LTE Initiative. China Telecom is China's largest fixed line telephone company, and also provides data, multimedia and other telecommunications and information services to more than 200 million subscribers. Both companies deploy thousands of telecommunications base transceivers and other infrastructure that require back-up power needs. "These test trials with China's two top telecommunications operators build confidence for the operators and for the Chinese Central Government to develop a standard to replace out of date back up batteries with hydrogen fuel cell power. I strongly believe the entire industry will shift towards green energy in the near future," predicted President of VN Tech, Mr. Hongye Luo. VelaTel also announced that China's Communications Standards Association, www.ccsa.org.cn/english, has entrusted Mr. Luo to head the technical committee that will develop national standards and specifications for the use of hydrogen fuel cells in the telecommunication industry. After adoption, these standards will also be submitted to the Telecommunications Standards Sector of the International Telecommunication Union. The strong support from China Mobile and China Telecom positions VN Tech's product to become the "industry standard" for fuel cell systems in China. Mr. Luo's leadership role in developing standards and specifications also creates the prospect for VN Tech's fuel cell specifications to be adopted as the official "government standard" in China, and eventually worldwide. VelaTel's President, Colin Tay, remarked: "Mr. Luo is an invaluable asset to our team. His experience and expertise in the Chinese telecom industry enables VN Tech to reach historical milestones." About VelaTel Global Communications, Inc. VelaTel acquires spectrum assets through acquisition or joint venture relationships, and provides capital, engineering, architectural and construction services related to the build-out of wireless broadband telecommunications networks, which it then operates by offering services attractive to residential, enterprise and government subscribers. VelaTel currently focuses on emerging markets where internet penetration rate is low relative to the capacity of incumbent operators to provide comparable cutting edge services, and/or where the entry cost to acquire spectrum is low relative to projected subscribers. VelaTel currently has project operations in People's Republic of China, Peru, Croatia and Montenegro. Additional target markets include countries in Latin America, the Caribbean, Southeast Asia and Eastern Europe. VelaTel's administrative headquarters are in Carlsbad, California. For more information, please visit www.velatel.com. The VelaTel Global Communications logo is available at //www.globenewswire.com/newsroom/prs/ pkgid=13404 Safe Harbor This press release may contain forward-looking statements that involve risks and uncertainties. Actual results, events and performances could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results, expressed or implied, to differ materially from expected results. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making an investment decision. This news release was distributed by GlobeNewswire, www.globenewswire.com SOURCE: VelaTel Global Communications (Logo: http://media.primezone.com/cache/20823/int/14316.jpg) CONTACT: VelaTel Global Communications, Inc. Tim Matula Investor Relations (Toll Free) 1-877-260-9170 [email protected] |
