World Energy Solutions, Inc. Acquires H-Hybrid Technologies, Inc. from UTEK Corporation

UTEK Corporation, an innovation services company, and World Energy Solutions, Inc, an energy services company and electronics manufacturer, are pleased to announce that World Energy Solutions, Inc. has acquired H-Hybrid Technologies, Inc., a wholly owned subsidiary of UTEK, in a stock transaction.

H-Hybrid Technologies contains the H-Hybrid (trademark pending) designation as well as a worldwide exclusive license to patented inventions for an apparatus and method of generating hydrogen and oxygen gases designed to increase fuel economy and decrease hydrocarbon emissions in gasoline powered vehicles. The gases are generated on demand by an electrolyzer that separates water into a gaseous mixture of hydrogen and oxygen. The electrolyzer is designed to be adapted to vehicles to provide a pre-combustion gas mixture to the fuel system on demand, thereby obviating the need for onboard storage of hydrogen.

Ben Croxton, Chief Executive Officer of World Energy Solutions, Inc., said, “We believe the addition of this licensed technology will advance our goal of introducing our own system for fuel enhancement and emissions reduction for the OEM marketplace. We feel that combining these technologies with our existing technology will strengthen our intellectual property focused on improving fuel efficiency and lowering emissions in automobiles.”

“UTEK is pleased to consummate this technology transfer with World Energy Solutions,” said Joel Edelson, Vice President of Technology Licensing at UTEK Corporation.

About World Energy Solutions, Inc.

World Energy Solutions, Inc. (WES) is an energy services company and electronics manufacturer. WES’ primary business focus is the development of technology for lowering electrical, gas and water usage for commercial, government and residential facilities. As a manufacturer of transient voltage surge suppressor systems, WES uses cutting-edge technologies and design standards to provide its customers with full lifetime warranties on its products. For more information about WES, please visit its website at www.wesinc.net.

About UTEK Corporation

UTEK® is a leading innovation services company. UTEK’s services enable clients to become stronger innovators, rapidly source externally developed technologies and create value from their intellectual property. UTEK is a business development company with operations in the United States and the United Kingdom. For more information about UTEK, please visit its website at www.utekcorp.com.