BANGKOK, March 29--PRNewswire-AsiaNet/InfoQuest Company to Form Partnerships With Businesses, Government and Research Institutions to Develop Advanced Electric Propulsion Systems in Thailand for Global Marketplace WaveCrest Laboratories has selected Thailand as the location of the WaveCrest Center of Excellence Asia. The company will partner with businesses, government ministries, and academic and research institutions in Thailand to develop, manufacture and market advanced electric propulsion and drive systems. By working together through the Center of Excellence Asia, these organizations will bring technology solutions for improving energy efficiency and reducing pollution caused by harmful emissions to markets around the world. Making the announcement Sunday at the National Science and Technology Development Agency (NSTDA), WaveCrest President and CEO Roy Barbee said the Center of Excellence Asia is a new concept that emphasizes partnerships for extending technology. "It will not simply be 'outsourcing' what exists now, but rather a collaboration of many enterprises to continue developing new and better technology solutions," Mr. Barbee said. "The benefits of success associated with the Center of Excellence Asia will be enormous for Thailand." Mr. Barbee joined Science and Technology Minister Korn Dabbaransi on the occasion of Minister Korn's announcing the formation of an initiative by NSTDA to promote alternative energy technology in Thailand. "Thailand shares with many countries concern about air and noise pollution and energy dependency," Minister Korn said. "By this initiative, Thailand intends to establish a formidable technology capability to solve these problems. WaveCrest Laboratories is a leading technology development company in electric propulsion systems. We welcome their participation in this initiative." "Our goal is to provide Thailand with a 21st Century industry for improving the nation's environment and quality of life," Mr. Barbee said. "This will benefit Thailand and other nations around the world for many years to come as advanced electric propulsion technology is used to solve the growing problems associated with transportation-based pollution. This technology will also help lessen the world's dependence on oil." An important aspect of establishing the Center of Excellence Asia in Bangkok, Mr. Barbee said, is that it will create "Thai-based solutions" for solving pollution problems associated with vehicle emissions. WaveCrest's electric propulsion systems will be developed, commercialized and marketed in Thailand. Company officials said in the coming weeks there will be further announcements about the Center's operating structure and charter, a board of directors that will be comprised of notable leaders from business, government and academia, as well as the Center's first partners. WaveCrest is currently in Thailand showcasing its technology at the 26th Bangkok International Motor Show with its initial Thai manufacturing partners. On display at the show is a wide range of vehicles and industrial equipment that is environmentally friendly but does not compromise performance. The exhibit is located in space E-4 on the Concourse Level of the Bangkok International and Trade Centre (BITEC). For more information about WaveCrest, visit its Web site: http://www.wavecrestlabs.com SOURCE WaveCrest Laboratories CONTACT: Kelly Kocher of WaveCrest Laboratories, +1-703-435-7102, or [email protected] Web site: http://www.wavecrestlabs.com --Distributed by AsiaNet (www.asianetnews.net)--