[Brief translation]
Xenesys Inc. (head office: Akashi, Hyogo Prefecture, president: Mr. Kiminao Satomi) has jointly conducted with Saga University the development of an Ocean Thermal Energy Conversion (OTEC) system and other systems. The ceremony for the conclusion of the factory building agreement between Imari-shi and Xenesys Inc. was held on March 15th in Saga-shi, Saga Prefecture. Xenesys Inc. is to spend 1.8 billion yen for constructing their own R&D center and manufacturing facilities that manufacture such products as heat exchangers. Xenesys Inc. is to begin operation from November 2008. The Governor of Saga Prefecture and the Mayor of Saga City welcomed the advance of this business and said, "Xenesys Inc. has the potential of developing these technologies worldwide, and we hope to disseminate these Saga-launched technologies, which contribute to all human beings and to the world". In response to this encouragement, Mr. Satomi declared his resolution to move ahead quickly and reach out to the world. He was also deeply grateful that Xenesys Inc. has the opportunity to implement their project in Saga Prefecture, where there is high understanding of OTEC. New facilities will commence the operation with 24 employees, which will increase to 41 after 2 years. About half will be recruited locally.