U.S.-based PHI Group, Inc. has signed a cooperation agreement with Vietnamese company SSE Group JSC to provide solutions to global greenhouse gas (GHG) emissions with the Vietnamese firm’s technologies.
PHI Group, listed on Nasdaq as PHIL, announced via the Nasdaq website on Saturday that the two groups have incorporated “SSE Global Group Inc.” - a Wyoming corporation to apply the Vietnamese group’s breakthrough technologies for the energy industry, especially to improve fuel efficiency and mitigate global GHG emissions.
PHI claims that SSE Group’s 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 Euro-6 standards of harmful exhaust.
The system also cleans the carbon in the internal combustion engine and stabilizes the burning temperature of the engine chamber for optimal performance, PHI says. 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.
Henry Fahman, chairman and CEO of PHI Group, said in the release: “We 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.”
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 is a Vietnam-based joint stock company that has successfully developed a self-sustainable energy system using its proprietary technologies for the improvement of fuel efficiency and mitigation of global greenhouse gas emissions.
This system, PHI Group says, 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.
PHI Group is a diversified global holding company. It is developing its Asia Diamond Exchange project (ADE) in Vietnam and plans to invest up to $5 billion in the country.
The ADE project will consist of rough and lab-grown diamond trading centers in Chu Lai, Quang Nam province on Vietnam’s central coast, and polished diamond centers near Long Thanh International Airport which is under construction in Dong Nai province bordering Ho Chi Minh City, the nation’s southern economic hub.