NEW YORK, May 23, 2017 (GLOBE NEWSWIRE) -- PHI Group, Inc., (www.phiglobal.com) (OTCQB:PHIL), a company focused on acquisitions and investments in natural resources, energy, agriculture and special situations, announced today that the Company has signed a Business Cooperation Agreement with Dr. Martin Nguyen, a Vietnamese-American scientist, to manufacture and market water treatment systems for agricultural cultivation.
Dr. Nguyen's water treatment devices are environmentally friendly, cost-effective and require no energy to operate. They are used to increase crop yield, induce seed germination and benefit the health of livestock.
These systems are among a series of products developed by Dr. Nguyen using quantum technology in a combination of disciplines including applied physics, applied water science, biological system engineering and agricultural economics. The systems incorporate complex electromagnetic force, advanced oxidation, electrocoagulation and ultrasound and have been proven to reduce water consumption by up to 30% and reduce fertilizer usage by 30-50% while boosting crop yields by 30%-50%. They also dramatically reduce chlorine, balance PH level and eliminate scaling.
The Company plans to use these water conditioning systems in conjunction with proprietary enhanced bioavailable nutrient and natural symbiotic immune systems, without chemical pesticides and synthetic fertilizers, for its organic farming program in the U.S. through Abundant Farms, a subsidiary of the Company. In addition, the Company intends to supply these units to Maxagro Group in Romania (www.maxagro.ro) and imminent joint-venture farming operations in Asia and Central America to help boost the quality and yields of produce and increase revenues from operations. The Company will also make these systems available to other farmers around the world, including hydroponics, medicinal herb and cannabis growers.
Dr. Martin Nguyen said: "We are glad to cooperate with PHI Group to make our innovative products available to farm owners. We are confident this will prove to be a win-win strategy for everyone."
Henry Fahman, CEO of PHI Group, stated, "We look forward to deploying Dr. Nguyen's water conditioning systems initially for our own usage and for our join-venture operations. Subsequently, we want to share the benefits of these systems with other farmers around the world to help meet the growing need for organic agricultural products. We believe this will bring about significant economic value for our shareholders and all other stakeholders."
About PHI Group
PHI Group (www.phiglobal.com) primarily focuses on acquisitions as a principal and invests in select industries and special situations that may substantially enhance shareholder value. PHI Group also provides merger and acquisition advisory services through its wholly owned subsidiary, PHI Capital Holdings, Inc. (www.phicapitalholdings.com)
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements pursuant to the "safe-harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Source: PHI Group, Inc.