New York, May 26, 2023 (GLOBE NEWSWIRE) — PHI Group, Inc. (n/k/a Philux Global Group Inc., www.phiglobal.com, PHIL), is pleased to announce that the Company has signed a Business Cooperation Agreement with SSE Group JSC, a Vietnamese joint stock company, to jointly cooperate in the areas of energy efficiency and mitigation of global greenhouse gas (GHG) emissions by using SSE Group’s proprietary technologies.
According to the agreement, SSE Group JSC and Philux Global Group Inc. have incorporated “SSE Global Group Inc.,” a Wyoming corporation, Registration ID 2023-00127, to apply SSE Group’s breakthrough technologies for the energy industry, especially to improve fuel efficiency and mitigate global GHG emissions.
Global GHG emissions have been steadily increasing over the years, primarily due to human activities such as burning fossil fuels, deforestation, industrial processes, and agriculture. Carbon dioxide (CO2) is the most significant GHG, accounting for the majority of emissions. The main sectors contributing to GHG emissions are energy production, transportation, industry, agriculture, and land use change. Emerging economies, such as China and India, have witnessed significant increases in emissions due to rapid industrialization and urbanization. Rising GHG emissions lead to the greenhouse effect, causing global warming and climate change. This phenomenon contributes to various environmental and socio-economic challenges, including extreme weather events, sea-level rise, disrupted ecosystems, and threats to human health and food security.
SSE Group’s proprietary technologies are a self-sustaining energy system created by absolute interactions with the air condition of the cosmos. This system enhances and extends the burning time of traditional fuels such as gasoline, diesel and coal by 50% or more and eliminates toxic emissions surpassing Euro6 standards of harmful exhaust. It also cleans the carbon in the internal combustion engine and stabilizes the burning temperature of the engine chamber for optimal performance. For use in vehicles, the installation is fast and inexpensive and does not require any additional power supply or batteries. SSE Group’s technologies can also be applied to fossil fuel power plants to save input fuels and eliminate toxic emissions.
Mrs. Hana Nguyen, Chairperson and General Director of SSE Group JSC, stated: “We look forward to cooperating with Philux Global Group to take our company to the next level and carry out our vision to become a major participant in the energy industry by improving fuel efficiency and reducing harmful emissions on a global scale.”
Mr. Henry Fahman, Chairman and Chief Executive Officer of PHI Group, Inc., concurred: “We are delighted to partner with SSE Group JSC through this strategic alliance and strongly believe that by combining our strengths we will be able to generate tremendous benefits for shareholders of our companies, the global community and all stakeholders in the near future.”
About SSE Group JSC
SSE Group JSC is a Vietnam-based joint stock company (www.groupsse.org) that has successfully developed a self-sustainable energy system using proprietary technologies for the improvement of fuel efficiency and mitigation of global greenhouse gas emissions. This system enhances and extends the burning time of traditional fuels such as gasoline, diesel and coal by 50% or more and eliminates toxic emissions surpassing Euro6 standards of harmful exhaust.
About PHI Group
PHI Group (n/k/a Philux Global Group Inc., www.phiglobal.com, PHIL) primarily focuses on PHILUX Global Funds, a group of Luxembourg bank funds organized as “Reserved Alternative Investment Fund” (“RAIF”) (www.philuxfunds.com) , and building the Asia Diamond Exchange (“ADE”) in Vietnam. The Company also engages in mergers and acquisitions and invests in attractive businesses that have large, growing market potential and select special situations that may substantially enhance shareholder value.
Safe Harbor Act and Forward-looking Statements
This news release contains “forward-looking statements” pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.
Philux Global Group Inc., (f/k/a PHI Group, Inc.)
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